Welcome to our dedicated page for Wuxi Apptec news (Ticker: WUXAY), a resource for investors and traders seeking the latest updates and insights on Wuxi Apptec stock.
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 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.
WuXi AppTec reported significant financial growth for the year ending December 31, 2021, with revenue increasing 38.5% year-over-year to RMB22,902 million. Net profit attributable to owners rose 72.2% to RMB5,097 million, driven by robust operational efficiencies. The diluted EPS climbed 64.8% to RMB1.73. Key segments like WuXi Chemistry and WuXi Testing saw revenue increases of 46.9% and 38.0%, respectively. However, WuXi ATU faced a 2.8% revenue decline, attributed to project delays and COVID-19 impacts.
WuXi Advanced Therapies announced the launch of Tetracycline-Enabled Self-Silencing Adenovirus (TESSA™) on March 7, 2022. This innovative technology allows for the scalable, transfection-free manufacture of adeno-associated virus (AAV) at GMP grade, significantly reducing costs and increasing accessibility to cell and gene therapies. TESSA™ can produce ten times more AAV in the same volume compared to traditional methods, improving patient access to treatments. WuXi ATU’s integrated services aim to expedite the development and delivery of life-saving therapies globally.
On December 15, 2021, WuXi AppTec reaffirmed its commitment to its platform amidst recent market fluctuations. The company stated that its operations are progressing smoothly and it remains dedicated to serving its global customer base and patients. WuXi AppTec committed to providing updates as necessary, adhering to legal and regulatory requirements. The statement reflects the company's confidence in its business trajectory despite external market pressures.
FAQ
What is the current stock price of Wuxi Apptec (WUXAY)?
What is the market cap of Wuxi Apptec (WUXAY)?
What services does WuXi AppTec offer?
Where does WuXi AppTec operate?
What is the company's vision?
What are WuXi AppTec's core business models?
How does WuXi AppTec prioritize customer needs?
What is WuXi AppTec's approach to innovation?
