Largest WuXi Biologics Shareholder Sells Stake Again as Share Price Hits Record High

Shares of WuXi Biologics (HK:2269) jumped to a record HK$104.8 per share in Hong Kong Monday.
Shirley TianJan 05,2021,00:06

Biotech firm Wuxin Biologics’s largest shareholder WuXi Biologics Holdings sold 82 million shares of its subsidiary for HK$95 to HK97 per share Monday, according to local news sources.

Shares of WuXi Biologics (HK:2269) jumped to a new record of HK$104.8 per share in Hong Kong Monday.

This is not the first time the parent sold its stakes.

Biologics Holdings sold 33 million shares (before the stock split) in September, and that was the ninth time since its initial public offering three years ago, according to the South China Morning Post.

Today the company also announced that it obtained Good Manufacturing Practice (GMP) certification from Brazil’s Agência Nacional de Vigilância Sanitária (ANVISA). According to the company, this is WuXi’s third GMP certification, which makes it the first company in China to receive authorizations from the FDA, European Medicines Agency (EMA), and ANVISA to manufacture biologics.

“We are very excited to have reached another regulatory milestone during this challenging year, said Chris Chen, CEO of WuXi Biologics.

“As outsourcing demand increases around the world, we have made huge strides in expanding our services globally and plan to increase our total biomanufacturing capacity to 300,000 liters after 2023. WuXi Biologics will continue to enable our global partners throughout the development and manufacturing process to provide life-saving treatments to patients worldwide.”