WuXi AppTec report shows CDMO’s integration in U.S. biopharma sector

More than 60% of company’s revenues derived from the U.S.

March 19, 2024 12:54 AM UTC

WuXi AppTec’s 2023 annual report shows just how integrated the Chinese CDMO is into the U.S. biopharma innovation ecosystem — and how much the company has come to rely on U.S. life sciences companies for revenue.

WuXi AppTec Co. Ltd. (Shanghai:603259; HKEX:2359) reported RMB26.1 billion ($3.7 billion) in revenues from its U.S. business, excluding contribution from commercial COVID-19 projects. That’s 65% of the company’s revenues, far outstripping its revenues from its work in Europe, its home country of China and elsewhere...