- Both companies have lost almost 40% in Hong Kong this year
- WuXi Bio denies CEO has ties to military-linked institution
WuXi AppTec Co. tumbled after a US Senate committee advanced a bill Wednesday that may ban Chinese biotech firms and some others from federal contracts.
WuXi AppTec plunged as much as 21%, while its sister company WuXi Biologics Cayman Inc. dropped 19%. Both stocks have lost close to 40% so far this year, making them the worst performers on the benchmark Hang Seng Index.
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