WuXi Biologics (Shanghai) Co., Ltd. Removed from the U.S. Commerce Department's Unverified List

Rhea-AI Summary

WuXi Biologics, a global leader in Contract Research, Development and Manufacturing, announced its subsidiary WuXi Biologics (Shanghai) Co., Ltd. was removed from the U.S. Department of Commerce's Unverified List (UVL), effective Dec. 16, 2022. This follows successful on-site checks by the Department in cooperation with China's Ministry of Commerce. Both subsidiaries faced UVL placement in February 2022 due to verification delays for U.S. exports, but since then, compliance has been reaffirmed. WuXi Biologics remains committed to high compliance standards and advancing its Environmental, Social, and Governance (ESG) initiatives.

Positive

• Successful removal of WuXi Biologics (Shanghai) from the U.S. Department of Commerce's Unverified List enhances operational credibility.
• Completion of compliance checks demonstrates commitment to regulatory standards.

Negative

• None.

SHANGHAI, Dec. 15, 2022 /PRNewswire/ -- WuXi Biologics ("WuXi Bio", 2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO), announced that its subsidiary WuXi Biologics (Shanghai) Co., Ltd. has been removed from the Unverified List (UVL) by the U.S. Department of Commerce, effective Dec. 16, 2022. Consequently, both subsidiaries WuXi Biologics Co., Ltd. and WuXi Biologics (Shanghai) Co., Ltd. have been successfully removed from the UVL.

In February 2022, two subsidiaries of WuXi Biologics – 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. Subsequently, both subsidiaries successfully completed the on-site end-use checks conducted by the U.S. Department of Commerce, in coordination with China's Ministry of Commerce (MOFCOM). WuXi Biologics Co., Ltd. was removed from the UVL on Oct. 7, 2022.

WuXi Biologics is committed to operating with the highest standard of compliance and in accordance with relevant laws and regulations.

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

Media
PR@wuxibiologics.com

Business
info@wuxibiologics.com

 

 

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SOURCE WuXi Biologics

FAQ

What does it mean for WuXi Biologics (Shanghai) to be removed from the Unverified List?

Being removed from the Unverified List signifies that WuXi Biologics (Shanghai) has successfully met compliance standards set by the U.S. Department of Commerce, allowing for smoother operations and exports.

When was WuXi Biologics (Shanghai) removed from the Unverified List?

WuXi Biologics (Shanghai) was officially removed from the Unverified List effective Dec. 16, 2022.

Why were WuXi Biologics' subsidiaries placed on the Unverified List in February 2022?

The subsidiaries were placed on the Unverified List due to delayed verifications required for receiving certain products exported from the United States.

What impact does the removal from the Unverified List have on WuXi Biologics' operations?

Removal from the Unverified List allows WuXi Biologics to continue its operations without the restrictions that come with being on the list, potentially leading to increased business opportunities.

How does WuXi Biologics address Environmental, Social, and Governance (ESG) responsibilities?

WuXi Biologics integrates ESG responsibilities into its core business strategy, aiming to lead in sustainability within the biologics CRDMO sector.