WuXi Biologics Co., Ltd. Removed from Unverified List

Rhea-AI Summary

WuXi Biologics, a global leader in Contract Research, Development and Manufacturing, announced that its subsidiary, WuXi Biologics Co., Ltd., was removed from the U.S. Department of Commerce's Unverified List (UVL) as of October 7, 2022. This follows a successful on-site end-use check completed in June 2022. The company aims to maintain high compliance standards and is working towards delisting its other subsidiary, WuXi Biologics (Shanghai) Co., Ltd. WuXi Biologics is committed to sustainability and enhancing its ESG strategy.

Positive

• Removal from the U.S. Department of Commerce's Unverified List enhances credibility.
• Successful completion of the on-site end-use check indicates strong compliance efforts.

Negative

• None.

WUXI, China, Oct. 9, 2022 /PRNewswire/ -- WuXi Biologics ("WuXi Bio", 2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO), announced that its subsidiary WuXi Biologics Co., Ltd. located in Wuxi city was removed from the Unverified List (UVL) by the U.S. Department of Commerce, effective October 7, 2022.

In February 2022, two subsidiaries of WuXi Biologics, namely, WuXi Biologics Co., Ltd. and WuXi Biologics (Shanghai) Co., Ltd., were placed on the UVL due to delayed verifications required for the receipt of certain products exported from the United States. In June, WuXi Biologics Co., Ltd. successfully completed the on-site end-use check conducted by the U.S. Department of Commerce, in coordination with China's Ministry of Commerce (MOFCOM).  

WuXi Biologics has always committed to operating with the highest standard of compliance and in accordance with relevant guidelines and regulations. The company is also working closely with relevant government authorities to schedule the on-site end-use check of its other subsidiary, WuXi Biologics (Shanghai) Co., Ltd., and will commence the UVL delisting process for such entity as soon as the check is completed. 

About WuXi Biologics

WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics from concept to commercialization for the benefit of patients worldwide.

WuXi Biologics views Environmental, Social, and Governance (ESG) responsibilities as an integral component of our ethos and business strategy, and we aim to become an ESG leader in the biologics CRDMO sector. Our facilities use next-generation biomanufacturing technologies and clean energy sources. We have also established an ESG committee led by our CEO to steer the comprehensive ESG strategy and its implementation, enhancing our commitment to sustainability. For more information about WuXi Biologics, please visit: www.wuxibiologics.com.

Contacts

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PR@wuxibiologics.com

Business
info@wuxibiologics.com

 

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SOURCE WuXi Biologics

FAQ

What does it mean for WuXi Biologics Co., Ltd. to be removed from the Unverified List?

Being removed from the Unverified List indicates that WuXi Biologics Co., Ltd. has met compliance requirements set by the U.S. Department of Commerce, enhancing its credibility in international operations.

When was WuXi Biologics Co., Ltd. removed from the Unverified List?

WuXi Biologics Co., Ltd. was removed from the Unverified List effective October 7, 2022.

What steps did WuXi Biologics take to be removed from the Unverified List?

WuXi Biologics successfully completed an on-site end-use check conducted by the U.S. Department of Commerce in coordination with China's Ministry of Commerce.

What is the future plan for WuXi Biologics (Shanghai) Co., Ltd. regarding the Unverified List?

WuXi Biologics is working closely with authorities to schedule an end-use check for its subsidiary WuXi Biologics (Shanghai) Co., Ltd. to begin the delisting process.

How does WuXi Biologics support ESG initiatives?

WuXi Biologics integrates Environmental, Social, and Governance (ESG) responsibilities into its business strategy, aiming to become a leader in the biologics CRDMO sector.