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WuXi AppTec is a global company offering a wide range of R&D and manufacturing services to the pharmaceutical, biotech, and medical device industries. Their CRDMO and CTDMO business models support drug discovery, development, and manufacturing processes, empowering the healthcare sector with groundbreaking treatments. With operations across Asia, Europe, and North America, WuXi AppTec's integrated services include chemistry drug CRDMO, biology discovery, and preclinical testing. The company's vision is to make every drug and treat every disease, prioritizing customer needs, high-quality standards, and compliance.
WuXi AppTec has joined the Pharmaceutical Supply Chain Initiative (PSCI) as a Supplier Partner, demonstrating its commitment to responsible business practices and supply chain resilience. The PSCI is a global non-profit membership association focusing on driving responsible value chains through Audit, Capability, and Projects.
Edward Hu, Vice Chairman of WuXi AppTec and Chairman of its ESG Committee, emphasized the company's dedication to fostering responsible business practices across the global supply chain. The company has achieved several notable ESG recognitions in 2024, including ranking #1 in the Global Life Sciences Tools & Services Industry in S&P Global's Corporate Sustainability Assessment and receiving a gold medal from EcoVadis. WuXi AppTec has maintained its AA MSCI ESG rating for four consecutive years and was included in the 2024 Dow Jones Sustainability Indices.
WuXi AppTec has been included in both the 2024 DJSI World and DJSI Emerging Markets indices for the fourth consecutive year, highlighting its commitment to sustainability. The company ranked first in the Life Sciences Tools & Services sector in the 2024 S&P Global Corporate Sustainability Assessment, being one of only four companies in its sector globally included in DJSI World and the only one in DJSI Emerging Markets.
The company's ESG achievements in 2024 include receiving an AA ESG rating from MSCI, earning a gold medal from EcoVadis, and being named to the S&P Global Sustainability Yearbook and FTSE4Good Index Series. WuXi AppTec has also joined the United Nations Global Compact and the Science Based Targets initiative to support global sustainability efforts and reduce carbon emissions.
WuXi AppTec has achieved a gold medal in the 2024 EcoVadis sustainability rating, placing in the top 2% of evaluated companies with a score of 80/100. The rating reflects excellence across environment, labor & human rights, ethics, and sustainable procurement.
The company's commitment to sustainability is further demonstrated by its #1 ranking in the Global Life Sciences Tools & Services Industry by S&P Global, an AA ESG rating from MSCI, and inclusion in the FTSE4Good Index Series.
WuXi AppTec has also joined key sustainability initiatives, including the United Nations Global Compact in 2024 and the Science Based Targets initiative in 2023 to reduce carbon emissions.
WuXi AppTec's Couvet facility in Switzerland has received a silver medal in EcoVadis' 2024 business sustainability ratings, placing it in the top 9% of all rated companies. The site, which provides clinical and commercial-scale manufacturing for oral solid dosage forms, was assessed across Environment, Labor & Human Rights, Ethics, and Sustainable Procurement. The facility maintains ISO 14001 & ISO 45001 certifications and was designed with advanced energy efficiency standards. WuXi AppTec has achieved notable ESG recognition, including ranking #1 in Global Life Sciences Tools & Services Industry in S&P Global's assessment and receiving an AA ESG rating from MSCI for the fourth consecutive year.
WuXi AppTec has achieved the #1 ranking in the global Life Sciences Tools & Services sector in the 2024 S&P Global Corporate Sustainability Assessment (CSA), scoring 80 out of 100 points, an 11-point improvement from 2023. The company received perfect scores in 43 out of 102 evaluated areas, including Risk Governance, Climate Risk Management, and Human Capital Return on Investment.
The achievement highlights WuXi AppTec's commitment to environmental, social and governance (ESG) practices. The company has maintained an MSCI AA ESG rating for four consecutive years and has been recognized by multiple global ESG rating agencies. WuXi AppTec has also joined the Science Based Targets initiative and committed to the United Nations Global Compact, demonstrating its dedication to sustainable development.
WuXi AppTec has been awarded the 2024 Global CRDMO Company of the Year Award by Frost & Sullivan for the eighth consecutive year. The recognition highlights the company's excellence in providing integrated contract research, development, and manufacturing services to pharmaceutical and life science industries. The award acknowledges WuXi AppTec's commitment to quality standards, innovation, and ability to help customers accelerate development while managing costs effectively. The company's CRDMO model offers comprehensive support from discovery to commercialization, enabling customers to deliver groundbreaking treatments to patients worldwide.
WuXi AppTec reported Q3 2024 revenue of RMB10,461 million, up 14.6% YoY excluding COVID-19 commercial projects. For the first three quarters, revenue reached RMB27,702 million, growing 4.6% YoY excluding COVID-19 projects. Net profit attributable to owners was RMB6,533 million with diluted EPS of RMB2.24. The company's backlog grew 35.2% YoY to RMB43.82 billion. Operating cash flow increased 10.4% YoY with free cash flow of RMB5.56 billion. The company added over 800 new customers while maintaining 6,000+ active customers. Revenue from top 20 pharmaceutical companies grew 23.1% YoY to RMB11.22 billion excluding COVID-19 projects.
WuXi AppTec reported financial results for the first half of 2024. Revenue for Q2 2024 was RMB9,259 million, up 16.0% QoQ. Adjusted non-IFRS net profit increased by 28.5% QoQ to RMB4,372 million. For H1 2024, revenue excluding COVID-19 projects was RMB17,241 million, down 0.7% YoY, with an adjusted gross profit margin of 39.8%. The net profit attributable to shareholders was RMB4,240 million. Operating cash flow grew 48.3% YoY. The company added over 500 new customers and achieved a backlog of RMB43.10 billion, up 33.2% YoY. WuXi Chemistry recorded H1 revenue of RMB12.21 billion, growing 2.1% YoY. TIDES business revenue grew 57.2% YoY. WuXi Testing saw a 5.4% decline in lab testing revenue. WuXi ATU revenue dropped 19.4% YoY due to U.S. legislation impacts. For the full year, WuXi AppTec aims for revenue between RMB38.3-40.5 billion and free cash flow of RMB4-5 billion.
WuXi AppTec announced its financial results for Q1 2024, achieving revenue of RMB7,982 million, with net profit of RMB1,942 million. The company added over 300 new customers and served 6,000 active customers. WuXi Chemistry's D&M pipeline saw growth, adding 337 new molecules. The company is committed to sustainability and quality standards, with recognition from global ESG agencies. Revenue from top 20 pharmaceutical companies grew by 4.2%. WuXi AppTec aims for revenue of RMB 38.3-40.5 billion for the full year.
Despite external challenges, the company maintained stable operations with positive free cash flow of RMB1,326 million. WuXi Chemistry revenue reached RMB5.56 billion, with adjusted non-IFRS gross profit margin of 43.3%. WuXi Testing and WuXi Biology also showed steady growth. WuXi ATU faced challenges due to completion of high-margin projects in 2023 and under-utilization of capacity.
Overall, WuXi AppTec's innovative services and commitment to quality continue to drive business growth, enabling the company to support the pharmaceutical and life sciences industry globally.
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