Shares of Chinese pharmaceutical company WUXI APPTEC Co. Ltd. (2359.HK) plummeted by 10.60% on Wednesday, closing at HK$66.35 per share.
The sharp decline comes after reports surfaced that WUXI APPTEC is exploring the sale of several of its pharmaceutical units, including its cell and gene therapy manufacturing arm WUXI Advanced Therapies, as potential U.S. restrictions loom over the company.
The potential divestment of key business units and the uncertainty surrounding potential U.S. restrictions on the company's operations have raised concerns among investors about WUXI APPTEC's future growth prospects and profitability. The market reaction suggests that investors are pricing in the potential negative impact on the company's business and financials.
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