7/10, 9:34 PM (Source: TeleTrader)
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HK company's acquisition of US pharma firm probed - report

The Committee on Foreign Investment in the US (Cfius) launched an investigation of the 2017 acquisition of Ritedose Corporation by a Chinese company, The Wall Street Journal reported on Friday, citing defense officials.

Ritedose, a US company from Columbia, North Carolina, was previously considered for Pentagon's project as a manufacturer of injection devices for the COVID-19 vaccine.

The acquisition, worth approximately $605 million, reportedly came under scrutiny now as Cfius started investigating deals which involve biotech and pharmaceutical companies, as they might give China too close of an insight into the US "sensitive assets," the report read.

Breaking the News / BU