China's WuXi Biologics said on Monday it will sell its vaccine facility in Ireland to U.S. drugmaker Merck & Co for about $500 million, ahead of potential U.S. legislation that would restrict business for Chinese biotech companies.

WuXi Biologics’ move to sell the facility could strengthen the company’s cash flow and margins as it navigates global uncertainties.

In Ireland, WuXi Biologics has sold a new vaccines plant to Merck & Co. for €500 million ($521 million). The New Jersey company was a natural buyer of the facility as it was the lone client WuXi Biologics served at the site in Dundalk, executing a 20-year contract to produce vaccines worth $150 million annually.

China's WuXi Biologics said on Monday it will sell its vaccine facility in Ireland to U.S. drugmaker Merck & Co for about $500 million. The Financial Times had reported in October that WuXi and WuXi AppTec are planning to sell some of their operations,

WuXi Biologics Cayman Inc. will sell a vaccine facility in Ireland to Merck & Co. for about $500 million as the Chinese company seeks to enhance its margins while continuing to navigate geopolitical tensions.

WUXI Biologics Cayman will sell a vaccine facility in Ireland to Merck for about US$500 million as the Chinese company seeks to enhance its margins while continuing to navigate geopolitical tensions.

WuXi Biologics, a Chinese biopharmaceuticals company, announced on Monday the sale of its WuXi Vaccines facility in Ireland to MSD International, a subsidiary of Merck & Co. for approximately $500 million.