WuXi Bi­o­log­ics’ stock slides 24% as man­u­fac­tur­ing busi­ness slows amid biotech down­turn

WuXi Bi­o­log­ics stock has plum­met­ed 24% to the low­est it’s been this year af­ter the Hong Kong stock ex­change closed Mon­day morn­ing, as the man­u­fac­tur­er cites slow­er busi­ness due to biotech fund­ing slow­down.

“Our in­dus­try is go­ing through a tough time,” the com­pa­ny said in an in­vestor pre­sen­ta­tion on Mon­day, due to the chal­leng­ing macro­eco­nom­ic en­vi­ron­ment caus­ing a down­turn in CRD­MO busi­ness­es.

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