Wuxi Apptec Stock Price, News & Analysis

WuXi AppTec has been awarded the 2022 Global Contract Research, Development and Manufacturing Organization Company of the Year Award by Frost & Sullivan, marking its sixth consecutive recognition. The award highlights WuXi AppTec's leadership and innovative services in the pharmaceutical and biotech sectors. The company's integrated CRDMO and CTDMO models enhance customer service value and address evolving healthcare demands. WuXi AppTec aims to strengthen its capabilities to support the development of groundbreaking therapies for patients worldwide.

WuXi AppTec reported a remarkable performance for Q3 2022, achieving a 77.8% year-over-year increase in revenue to RMB10,638 million. The net profit attributable to owners soared 209.1% year-over-year to RMB2,742 million, with diluted EPS rising 170.0% to RMB0.81. For the nine months ending September 30, 2022, revenue increased 71.9% year-over-year to RMB28,395 million, while net profit grew 107.1% to RMB7,378 million. Operating cash flow surged 142.1% to RMB7,431 million, showcasing robust operational execution.

WuXi STA has launched its first high potency (HP) oral drug product manufacturing facility in Wuxi, China, aimed at expanding its R&D and manufacturing capabilities. This facility will enhance integrated services for HP drug candidates, complementing existing facilities in Changzhou and Shanghai Jinshan. With a production capacity of 400 million tablets and 200 million capsules annually, it meets stringent occupational exposure limits. WuXi STA plans to open a new HP sterile parenteral plant in Q3 2023 and has been increasing its global footprint with new facilities in Delaware and Switzerland.

WuXi STA has launched a new sterile lipid nanoparticle (LNP) formulation facility at its Wuxi city campus, aimed at meeting the rising demand for complex injection dosage forms. This facility enhances the company's parenteral formulation capabilities by integrating advanced technologies, improving drug-loading, particle size control, and encapsulation efficiency. WuXi STA's integrated platform provides comprehensive services from pre-formulation to commercial manufacturing, bolstered by its 12 global sites. The new facility is designed to support innovative drug development and delivery across various formats.

WuXi STA has initiated construction on a new 190-acre pharmaceutical manufacturing campus in Middletown, Delaware, expected to begin operations in 2025. This facility will create approximately 500 full-time jobs by 2026 and enhance WuXi STA's production capabilities, servicing both clinical and commercial needs. The site will provide formulation development and manufacturing services with a focus on flexibility and capacity expansion.

This development is a significant investment in the region, highlighting Delaware's role in the biopharmaceutical industry.

WuXi Advanced Therapies (WuXi ATU) announced a licensing agreement with Janssen Biotech to utilize its TESSA™ technology for adeno-associated viral (AAV) vector production. This technology allows for 10 times more efficient production compared to traditional methods. Janssen also gains access to WuXi ATU's proprietary HEK293 cell line. The TESSA™ system has been scaled to 200L, significantly reducing AAV production costs while improving yield and quality. WuXi ATU remains committed to enhancing this technology for faster and cost-effective gene therapy solutions.

WuXi AppTec reported a 68.5% year-over-year revenue growth to RMB17,756 million for the first half of 2022, with a net profit increase of 73.3% to RMB4,636 million. Diluted EPS rose 62.6% to RMB1.48.

Key drivers include a 101.9% revenue increase in WuXi Chemistry and strong demand across multiple segments. Adjusted non-IFRS net profit grew 75.7% to RMB4,301 million. Future growth expectations are optimistic, with a revised revenue growth target of 68-72% for 2022.

WuXi STA, a subsidiary of WuXi AppTec, has opened a new large-scale manufacturing facility for oligonucleotides and peptides in Changzhou, covering 30,570 sq.ft. This facility enhances production capacity with four large-scale oligonucleotide production lines, raising synthesis run capacity from 1.9 mol to 6.0 mol. Additionally, a new 22,260 sq.ft. peptide plant introduces three new production lines, increasing Solid Phase Peptide Synthesis total reactor volume to 6,490 L. This expansion solidifies WuXi STA's position in the CRDMO market, supporting global partners in therapy development.

WuXi AppTec reported a record growth in Q1 2022, with revenue increasing 71.2% year-over-year to RMB 8,474 million. The net profit attributed to shareholders rose 9.5% to RMB 1,643 million, while diluted EPS climbed 3.9% to RMB 0.53. Adjusted non-IFRS net profit surged 85.8% to RMB 2,053 million, and adjusted EPS increased 81.6% to RMB 0.69. Revenue growth was driven by strong demand across different segments, notably WuXi Chemistry, which saw a 102.1% increase.