Shares of Piramal Pharma fell over 2% after the update that the US Biosecure Act, which aimed to blacklist Chinese-linked biotechnology firms from new federally funded research and contracts, was excluded from a key defense bill. This exclusion was seen as a significant win for Chinese biotech firms, which were facing potential restrictions under the Biosecure Act.
The Biosecure Act had gained considerable support in the US House and Senate earlier this year, aiming to restrict the involvement of Chinese biotechnology firms in US government-funded research. However, the exclusion of this legislation followed objections from senior House Democrats, who argued against naming specific companies in the bill.
As of December 9, 2024, Piramal Pharma shares were down over 2%.
Stock Performance:
- 1 Day: -2.60%
- 5 Days: -5.23%
- 1 Month: -11.00%
- 6 Months: +67.91%
- Year to Date: +87.26%
- 1 Year: +106.26%
- 5 Years: +33.16%
- All Time: +33.16%
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