WUXI BIOLOGICS UNSP/ADR - WXXWY STOCK NEWS

WuXi Vaccines has received its first GMP certificate from the Ireland HPRA for its QC potency lab, a key milestone for manufacturing commercial vaccine products at its Dundalk facility. This certification supports a 20-year contract valued at approximately $3 billion USD with a top global pharmaceutical company. The QC lab has been operational since July 2020 and reflects WuXi's commitment to addressing global vaccine manufacturing challenges, especially in light of increased demand due to the COVID-19 pandemic.

WuXi XDC and AbTis have signed a Memorandum of Understanding to establish a strategic partnership focused on antibody-drug conjugates (ADCs). This collaboration enables AbTis to utilize WuXi XDC’s comprehensive services for linker and payload manufacturing, ADC conjugation, and drug product development. The proximity of their facilities enhances operational efficiency. Both companies aim to accelerate ADC product availability to patients, leveraging WuXi XDC's expertise in bioconjugates, demonstrated even during COVID-19 disruptions.

WuXi Biologics has expanded its CRDMO services by initiating cGMP manufacturing for microbial-derived products at its MFG14 facility in Hangzhou, China. This facility has four cGMP lines with fermentors from 30L to 2,000L, capable of end-to-end CMC services. The decision responds to increased market demand for microbial fermentation capacity, particularly in enzymes, plasmids, and vaccines. With over 10,000 employees and 526 client projects, WuXi aims to enhance its service offerings, facilitating faster and more cost-effective production for its partners.

WuXi Biologics has launched its GMP operation for DP5, a new drug product facility in Wuxi, China, enhancing its capacity to manufacture pre-filled syringes (PFS) to 17 million units annually. This facility, part of a global network of nine drug product sites, utilizes advanced technology to minimize contamination risks while providing flexible filling options such as 1 mL and 3 mL. CEO Chris Chen emphasized the significance of this milestone, positioning WuXi as a leader in drug product CDMO services and supporting clients from clinical trials to commercialization.

WuXi Biologics reported robust financial performance for 2021, achieving a 83.3% growth in revenue to RMB10,290.1 million, driven by strong demand in both COVID-19 and non-COVID-19 projects. Gross profit surged 90.6% to RMB4,828.9 million, while net profit increased by 107.3% to RMB3,508.6 million. The adjusted net profit also saw a remarkable rise of 100.3%, indicating a solid operational efficiency. The total backlog rose 20.1% to US$13,597 million, reflecting sustainable growth and an increase in project numbers.