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☆ Chinese Company Under Congressional Scrutiny Makes Key U.S. Drugs
▼ + stars: | 2024-04-15 | by ( Christina Jewett | ) www.nytimes.com time to read: +1 min

A Chinese company targeted by members of Congress over potential ties to the Chinese government makes blockbuster drugs for the American market that have been hailed as advances in the treatment of cancers, obesity and debilitating illnesses like cystic fibrosis. WuXi AppTec is one of several companies that lawmakers have identified as potential threats to the security of individual Americans’ genetic information and U.S. intellectual property. A Senate committee approved a bill in March that aides say is intended to push U.S. companies away from doing business with them. The Congressional spotlight on the company has rattled the pharmaceutical industry, which is already struggling with widespread drug shortages now at a 20-year high. Some biotech executives have pushed back, trying to impress on Congress that a sudden decoupling could take some drugs out of the pipeline for years.

Organizations: New York Times Locations: WuXi, U.S

☆ U.S. curbs on China to rise as 'decoupling is really in full force,' expert warns, amid possible TikTok ban
▼ + stars: | 2024-03-12 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

"The question is to what extent and how broad will it be," Okun told CNBC's "Street Signs Asia" on Monday. House Speaker Mike Johnson told reporters the TikTok divesture bill will be on the floor on Wednesday. The Committee wants a "reset," with China Okun said. It is going to apply certainly into biotech – I think this is the sector you want to watch next." The U.S. Senate voted earlier this month to approve a bill that could restrict business with Chinese biotech firms, such as WuXi AppTec and BGI, on national security concerns.

Persons: Steven Okun, Okun, CNBC's, Mike Johnson, China Okun Organizations: APAC Advisors, ByteDance, Chinese Communist Party, U.S, Senate Locations: China, America, U.S, WuXi

☆ Former U.S. official's work for Chinese client stirs concern over disclosure loopholes
▼ + stars: | 2024-03-12 | by ( ) www.cnbc.com time to read: +4 min

Advocating for foreign clients is legal and U.S. law includes a public disclosure exemption for lawyers. The Paul, Weiss law firm declined to comment on the letter, and Lynch did not respond to Reuters emails. The U.S. Treasury and Commerce departments say DJI supported biometric surveillance and tracking of Muslim Uyghur minorities in China. "It is appalling that former senior U.S. officials use their connections to serve the interests of U.S. adversaries," Risch said. Others argue that stricter FARA rules on disclosure could give authoritarian countries like Russia and China cover for their own stifling of free speech.

Persons: Loretta Lynch, Obama, Lynch, Paul, Weiss, DJI, FARA, Jim Risch, Risch, Jonathan Turley, Turley Organizations: U.S, senior Defense Department, SZ DJI Technology Co, U.S . Department of Justice, Reuters, Department of Defense, China's Communist Party, U.S . Treasury, Commerce, The Defense Department, Pentagon, Justice, Republican, Senate Foreign Relations, American Civil Liberties Union, Justice Department, George Washington University Locations: FARA, U.S, China, WuXi, Russia

WASHINGTON (AP) — U.S. lawmakers are raising alarms about what they see as America’s failure to compete with China in biotechnology, warning of the risks to U.S. national security and commercial interests. Bills have been introduced in the House and Senate to bar “foreign adversary biotech companies of concern” from doing business with federally funded medical providers. Photos You Should See View All 33 ImagesCritics of the legislation warn that restrictions on Chinese companies would impede advances that could bring a greater good. “It’s not just a supply chain battle or a national security battle or an economic security battle; I would submit it’s a moral and ethical battle,” Gallagher said. He said any restrictive U.S. measures should be tailored to address military concerns and concerns about genomic data security.

Persons: walling, ”, Abigail Coplin, Rachel King, Mike Gallagher, Gallagher, “ It’s, ” Gallagher, “ we’re, Biden, Tom Bollyky, Bollyky, Ray Yip, Yip, “, Anna Puglisi, Puglisi, ” Puglisi, BGI, WuXi AppTec, Dake Kang Organizations: WASHINGTON, — U.S, Biotechnology, Bills, Embassy, Biden, Vassar College, Biotechnology Innovation Organization, National Security Commission, Emerging Biotechnology, U.S . Senate, Chinese Communist Party, Wisconsin Republican, “, Bloomberg, Council, Foreign Relations, U.S . Centers for Disease Control, Georgetown University’s Center for Security, Emerging, The Defense Department, Commerce Department, Associated Press Locations: China, U.S, ”, South China, Wisconsin, Boston, United States, WuXi, Beijing

☆ Want to cash in on the weight-loss drug boom? Morgan Stanley names 4 global stocks
▼ + stars: | 2024-02-01 | by ( Amala Balakrishner | ) www.cnbc.com time to read: +4 min

Under-the-radar stock picks Morgan Stanley reckons the way to play the obesity theme in Asia is through names involved in GLP-1 drug development that "could find upside in burgeoning overseas markets." Calling it "top beneficiary as global demand for GLP-1 drugs significantly outpaces capacity," Morgan Stanley has an overweight rating on the stock. Morgan Stanley has an investment horizon of just over six months for WuXi AppTec and Innovent and over 12 months for Chugai and EBOS. Morgan Stanley's analysts estimate that worldwide sales of Orforglipron could hit $7 billion in 2023. Elsewhere, it sees opportunities for EBOS following the Australian government's approval for it to distribute obesity drugs.

Persons: Eli Lilly, Morgan, Sean Wu, Morgan Stanley's, Health Organization's, Morgan Stanley, Chugai, Goldman, EBOS, CNBC's Michael Bloom Organizations: Novo Nordisk, Health, WHO, BMI, WuXi AppTec, Australian, Hong Kong Stock Exchange, China Health Care, Goldman Sachs, Health Care Equity, Zealand ETF Locations: U.S, Asia, Asia Pacific, Australia, GLP, WuXi, China, Japan, New Zealand, Zealand

☆ China’s reopening has gotten Wall Street excited. Here’s how the pros are playing it
▼ + stars: | 2023-01-10 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

Over the past week, a host of Wall Street banks have turned increasingly bullish on the world's second-largest economy and have upgraded their outlook on Chinese stocks. Morgan Stanley expects China's GDP to grow by an "above-consensus" 5.4% in 2023, on the back of a "fast-tracked" reopening and more proactive policy easing. Meanwhile, UBS says Chinese stocks look increasingly attractive. How to play the reopening Against this backdrop, analysts have named a slew of both Chinese and global stocks they think will benefit most from China's reopening. Bank of America's domestic reopening beneficiaries include consumer stocks such as alcoholic beverage makers Kweichow Moutai and Tsingtao Brew , airline stocks including China Southern Airlines , as well as online travel platform Trip.com .

☆ Morgan Stanley turns bullish on China stocks, giving them serious upside potential
▼ + stars: | 2022-12-06 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Morgan Stanley has turned bullish on China stocks for the first time in nearly two years as the country embarks on a "clear path set towards reopening." It had held its equal weight rating on Chinese stocks since Jan. 2021 and was last overweight on China in March 2020. Morgan Stanley also gave the major Chinese stock indexes large potential upsides. Morgan Stanley recommended investing in offshore Chinese stocks. Stocks set to benefit Morgan Stanley highlighted a list of stocks it said are set to benefit from the easing in China.

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