The Zhitong Finance App learned that Yao Ming collectively plummeted in early trading. As of press release, Pharmaceutical Federation (02268) fell 9.72% to HK$17.84; Yao Ming Kangde (02359) fell 8.21% to HK$46.95.
According to the news, on the evening of March 13, the official website of BIO, a well-known American biotechnology organization, issued a press release. BIO said in a press release that it will take measures to “eliminate Medicinal Kangde membership” and fully support the US Biosafety Act. Also, the bill may prohibit Pharmacovac and several other Chinese healthcare companies from doing business in the US or cooperating with US companies.
The Department of Pharmacovigilance has issued clarification notices several times before. On March 7, Yao Ming Kangde and Yao Ming Biotech issued an announcement, once again denying that the company would pose a risk to the national security of the United States or other countries and would continue to monitor progress. Pharmaceutical Federation stated that the business will continue to operate normally.