Af­ter $10B in mar­ket val­ue lost, Chi­na's WuXi Bi­o­log­ics re­moved from US un­ver­i­fied list

WuXi Bi­o­log­ics has cause to cel­e­brate as it finds it­self re­moved from the US De­part­ment of Com­merce’s un­ver­i­fied list.

The Chi­na-based con­tract re­search and man­u­fac­tur­ing gi­ant was ini­tial­ly placed on the list in Feb­ru­ary of this year af­ter de­lays in ver­i­fi­ca­tions for cer­tain prod­ucts that were be­ing ex­port­ed to the US. At the time, the com­pa­ny had been im­port­ing items that were sub­ject to US ex­port con­trol, but with the com­merce de­part­ment’s ver­i­fi­ca­tion process not be­ing able to take place due to Covid-19, it was enough for the com­pa­ny to find its way on­to the un­ver­i­fied list. How­ev­er, WuXi Bi­o­log­ics stressed that it was not black­list­ed.

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