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WuXi AppTec posted higher Q3 profits and raised its full-year revenue outlook due to strong biopharma demand and growing backlog.
WuXi AppTec reported a significant rise in third-quarter profits, with net income reaching RMB 3.515 billion, up from RMB 2.293 billion the previous year, and adjusted non-IFRS net profit at RMB 4.22 billion, up from RMB 2.974 billion.
Quarterly revenue increased to RMB 12.057 billion from RMB 10.461 billion.
The company raised its full-year revenue forecast to RMB 43.5 billion–RMB 44.0 billion, citing strong demand for its biopharmaceutical services and a 41.2% year-over-year increase in backlog for continuing operations.
It also expressed confidence in improving its adjusted non-IFRS net profit margin in 2025.
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WuXi AppTec registró mayores ganancias en el tercer trimestre y elevó sus perspectivas de ingresos para todo el año debido a la fuerte demanda de biofármacos y el crecimiento de la cartera de pedidos.