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WuXi XDC Reports 90.8% Revenue Surge, Expanding in ADC Market
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WuXi XDC (HKG: 2268), a joint venture between Wuxi Biologics (HKG: 2269) and WuXi STA (a subsidiary of WuXi AppTec Co., Ltd (SHA: 603259)), has released its 2024 financial report. The company achieved RMB 4.52 billion (USD 558 million) in revenue for the full year, marking a 90.8% year-on-year (YOY)…
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WuXi AppTec Reports Steady Revenue Growth Amid Diversified Business Expansion
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China-based Contract Research Organization (CRO) WuXi AppTec (SHA: 603259, HKG: 2359) released its 2024 financial results. The company reported an annual operating revenue of RMB 39.24 billion (USD 5.42 billion), marking a 5.2% year-on-year increase when excluding COVID-19 commercialized programs. Revenues for the fourth quarter reached RMB 11.54 billion (USD…
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WuXi XDC and AbTis Partner to Advance Antibody-Drug Conjugate Innovation
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WuXi XDC (HKG: 2268), a joint venture between Wuxi Biologics (HKG: 2269) and WuXi STA (a subsidiary of WuXi AppTec Co., Ltd (SHA: 603259)), has entered into a memorandum of understanding (MOU) with South Korea-based biotech company AbTis. This collaboration aims to enhance innovation in antibody-drug conjugate (ADC) therapeutics and…
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WuXi XDC Expands MOU with LigaChem to Advance Next-Gen ADC Development
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WuXi XDC (HKG: 2268), a joint venture between Wuxi Biologics (HKG: 2269) and WuXi STA, a subsidiary of WuXi AppTec Co., Ltd (HKG: 2359, SHA: 603259), has signed an expanded Memorandum of Understanding (MOU) with South Korea’s LigaChem Biosciences, Inc. to accelerate the development of next-generation antibody drug conjugates (ADCs).…
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NAMSA to Acquire WuXi AppTec’s US Medical Device Testing Business
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US-based medical device contract research organization (CRO) NAMSA is set to acquire the medical device testing business in the US of China-based Contract Development and Manufacturing Organization (CDMO) WuXi AppTec Co., Ltd (SHA: 603259). The acquisition includes two factories located in Minnesota and Georgia. According to the agreement, for which…
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WuXi Biologics to Sell Irish Vaccine Assets to MSD for USD 500 Million
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China-based Contract Research, Development and Manufacturing Organization (CRDMO) WuXi Biologics (HKG: 2269) is poised to sell its assets related to vaccine facilities in Ireland to US pharmaceutical giant Merck, Sharp & Dohme (MSD; NYSE: MRK) for a consideration of USD 500 million. This strategic move reflects WuXi Biologics’ ongoing efforts…
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WuXi AppTec to Divest WuXi Advanced Therapies and Oxford Genetics to Altaris LLC
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China-based Contract Development and Manufacturing Organization (CDMO) WuXi AppTec Co., Ltd (SHA: 603259) has announced that its unit, WuXi ATU, will sell all stakes in WuXi Advanced Therapies Inc. and Oxford Genetics Limited, its US and UK operation entities respectively, to Altaris LLC. Altaris LLC is a US-headquartered equity investment…
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WuXi AppTec’s Subsidiary Invests EUR 20 Million in Jeito II S.L.P. for Growth Expansion
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China-based Contract Development and Manufacturing Organization (CDMO) WuXi AppTec Co., Ltd (SHA: 603259) has announced that its wholly owned subsidiary, WuXi PharmaTech Healthcare Fund I L.P., is set to invest EUR 20 million (USD 21.12 million) by subscribing to A shares of Jeito II S.L.P. Jeito II S.L.P. Fund Managed…
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GSK Leaves BIO, Joining Other Major Companies in Withdrawing Membership
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GlaxoSmithKline (GSK; NYSE: GSK), a leading pharmaceutical company based in the UK, has reportedly withdrawn from the US industry trade group Biotechnology Innovation Organization (BIO). This decision follows a similar trend set by Pfizer (NSE: PFIZER), UCB (EBR: UCB), WuXi AppTec (HKG: 2359, SHA: 603259), Takeda (TYO: 4502), and other…
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WuXi AppTec Reports Q3 2024 Revenues of RMB 10.46 Billion Amid Biosecure Act Challenges
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WuXi AppTec Co., Ltd (SHA: 603259), the China-based Contract Development and Manufacturing Organization (CDMO) facing potential restrictions under the Biosecure Act—set to ban drugmakers with U.S. government contracts from utilizing Chinese services post-2032—reported its financial results for the first three quarters of 2024. In the third quarter, revenues reached RMB…
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WuXi AppTec Addresses Media Speculation on Potential Sale of WuXi ATU
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WuXi AppTec Co., Ltd (SHA: 603259, HKG: 2359, OTCMKTS: WUXAY), a leading China-based Contract Development and Manufacturing Organization (CDMO), has issued a statement addressing media speculations about the potential sale of its cell and gene therapy segment, WuXi Advanced Therapies (WuXi ATU). The company clarified that no decision has been…
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WuXi XDC Reports 67.6% YOY Revenue Growth and Expands Manufacturing with Singapore Plant
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WuXi XDC (HKG: 2268), a joint venture between Wuxi Biologics (HKG: 2269) and WuXi STA, a subsidiary of WuXi AppTec Co., Ltd (SHA: 603259), has reported its financial performance for the first half of 2024, along with recent corporate developments. The company is dedicated to offering Contract Research, Development, and…
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WuXi XDC Accelerates Bioconjugate Drug Development with 67.6% YOY Revenue Increase in H1 2024
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HONG KONG—WuXi XDC (HKG: 2268), a joint venture between Wuxi Biologics (HKG: 2269) and WuXi STA, a subsidiary of WuXi AppTec Co., Ltd (SHA: 603259), has reported a remarkable financial performance for the first half of 2024, with revenues jumping 67.6% year-on-year to RMB 1.665 billion (USD 230 million). This…
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WuXi AppTec Spends Over USD 360,000 on US Lobbying Amid Biosecure Act Deliberations
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Endpoints News has reported that WuXi AppTec Co., Ltd, (SHA: 603259) a China-based Contract Development and Manufacturing Organization (CDMO), spent at least USD 360,000 on lobbying efforts in the United States during the second quarter of 2024. This period coincided with lawmakers’ consideration of the Biosecure Act and other legislative…
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WuXi AppTec and WuXi Bio Shares Rally as US Biosecure Act Excluded from Defense Bill
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Shares of Chinese Contract Development and Manufacturing Organizations (CDMOs) WuXi AppTec (SHA: 603259) and WuXi Bio (HKG: 2269) saw a significant surge as the US House Rules Committee decided against incorporating the proposed US Biosecure Act into the critical defense spending bill. The market had been anxiously awaiting the decision,…
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Landmark Biosecure Act Passes US House Committee with 40-1 Vote, Eyes 2024 Enactment
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The US House Committee on Oversight and Accountability has completed the markup process for amendments to the Biosecure Act, voting 40-1 in favor of moving the Act to the House floor for a full vote in both the House and Senate. This marks the final legislative step before the Act…
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BIO Surveys Members on China-CDMO Dependence Amid BioSecurity Bill Deliberations
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The Biotechnology Innovation Organization (BIO), a prominent US industry trade group, is conducting a survey among its members to assess the extent of reliance on China-based Contract Development and Manufacturing Organizations (CDMOs), according to a report by FiercePharma.com. The survey, titled “Understanding Key Elements of the Biopharma Supply Chain,” aims…
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US Legislature Reviews BioSecurity Bill to Sever Biotech Industry Ties with Chinese Companies
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On May 15, 2024, the US House Oversight Committee is set to review a “BioSecurity” bill proposal that could have significant implications for the biotechnology industry. The bipartisan-supported bill aims to prohibit companies receiving US government funding from engaging in commercial dealings with certain biotech companies identified as national security…
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WuXi AppTec’s Q1 2024 Revenues Affected by COVID-19 Project Exclusion
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China’s leading Contract Research Organization (CRO), WuXi AppTec (HKG: 2359, SHA: 603259), has announced its financial results for the first quarter of 2024, with revenues reaching RMB 7.98 billion (USD 1.1 billion), marking a slight decrease of 1.8% year-on-year (YOY), excluding COVID-19 commercialization projects. The company’s original customer income stood…
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Takeda Exits Biotechnology Innovation Organization as Big Pharma Reevaluates Industry Groups
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Japanese pharmaceutical giant Takeda (NYSE: TAK) has officially withdrawn its membership from the Biotechnology Innovation Organization (BIO), the world’s largest biotech trade association, according to Fierce Pharma. This move makes Takeda the fourth major company to leave BIO since December of the previous year, following the exits of Pfizer and…
