On December 16, WuXi Biologics announced on the Hong Kong Stock Exchange that as of the announcement date, the company was not aware of any changes in the regulatory regime that could have a material adverse impact on business operations, and would continue to strive to empower its partners and was confident in continued rapid growth in the future.
As a contracted custom R&D manufacturing service enterprise (CDMO) that provides a full range of end-to-end solutions, the company helps global partners discover, develop and produce biological drugs for the benefit of patients. The Company would like to emphasize that it strictly complies with applicable laws and regulations at its global operating bases and that all business operations are normal.
Pursuant to a resolution adopted by the Company's shareholders at the Annual General Meeting held on 16 June 2021, the Directors of the Company were granted a general authorization to repurchase shares not exceeding 10% of the total number of shares issued by the Company as at 16 June 2021 (i.e. not exceeding a total of 423 million Shares). The Board of Directors announced that it had agreed to use the repurchase authorization to repurchase shares on the open market from time to time for a total price not exceeding $500 million.
On December 15, WuXi Biologics' intraday share price fell by more than 20%, and Hong Kong stocks closed down 19.24% at HK$79.1.
![WuXi Biologics: We are not aware of any regulatory regime changes that may have a material adverse impact on our operations[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)