China-Based Pfizer mRNA Manufacturing Partner - WuXi Biologics Stock Plunges
Pfizer is a major client of WuXi Biologics.WuXi (2269.HK) plummeted 24% last Friday. The HKSE had to stop trading of the stock. Is this another sign of the beginning of the end of the mRNA industry?
December 8, 2023: According to the Wall Street Street Journal, Bloomberg, and the China South Morning Post, the Hong Kong Stock Exchange (HKSE) suspended trading of WuXi Biologics Cayman Inc. (2269.HK) Pfizer (PFE) mRNA-LNP manufacturing parter - after WuXi plummeted 24% last Friday, erasing $5.62 billion in market capitalization.
According to Bloomberg, “The stock was down 24% when the the Hong Kong Stock Exchange (HKSE) suspended trading in late morning ‘pending the release of an announcement which may constitute inside information of the company.’”
Stay Ahead of Respiratory Infections this Winter - just in case.
The Wellness Company is offering prescription medicine kits for acute infections, such as pneumonia or bronchitis.
Use code KINGSTON at checkout and save 10% on prescription medicine kits and supplements. Order here.
BioTech Stocks Continue to Plummet Due to Decreased mRNA Demand
Keep reading with a 7-day free trial
Subscribe to The Kingston Report to keep reading this post and get 7 days of free access to the full post archives.