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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 and WuXi Biologics Weigh Asset Sales in US and Europe Over Biosecure Act Concerns
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Reports emerged last week in the Financial Times suggesting that WuXi AppTec (HKG: 2359) and WuXi Biologics (HKG: 2269) are contemplating the sale of certain US and European assets due to the anticipated negative implications of the Biosecure Act, which is currently under review in the US legislative process. Both…
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US House Approves Biosecure Act with Implications for Chinese Biotech Firms
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The US House of Representatives has taken a decisive step towards tightening biosecurity measures, voting 306-81 on September 9, 2024, to approve the US Biosecure Act, specifically the version known as H.R. 8333. This legislation, previously endorsed by the House Committee on Oversight and Accountability, mandates that any company receiving…
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US Congressmen Call for FDA Investigation into Clinical Trials at China’s Military Hospitals
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US lawmakers are intensifying their scrutiny of the involvement of Chinese military hospitals in hosting clinical trials, urging the US FDA to delve deeper into the matter. In a correspondence addressed to FDA Commissioner Robert Califf and endorsed by key members of the bipartisan US House Select Committee on the…
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WuXi AppTec’s H1 2024 Financials Reflect Decline Amid Biosecure Act Challenges
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China-based Contract Development and Manufacturing Organization (CDMO) WuXi AppTec (HKG: 2359) has reported a subdued performance for the first half of 2024, with its financial report indicating a decline in revenues and net profits. Revenues for the period stood at RMB 17.241 billion (USD 2.38 billion), marking an 8.64% year-on-year…
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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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Consun Pharmaceutical Gets NMPA Go-Ahead for CKD Drug Clinical Trial
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Consun Pharmaceutical Group Ltd (HKG: 1681), a leading Chinese pharmaceutical company, has announced that it has received approval from China’s National Medical Products Administration (NMPA) to commence clinical studies for SK-08. This Category 1 chemical drug, co-developed with Contract Research Organization (CRO) WuXi AppTec (HKG: 2359), is intended to target…
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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 Survey Highlights Extensive Dependence on Chinese CDMOs in Life Sciences
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The Biotechnology Innovation Organization (BIO), a US industry trade group, has completed a survey among its members to gauge dependence on Chinese service providers in the life sciences industry. The results, reported by FiercePharma.com, are intended to guide US lawmakers as they prepare to potentially finalize the BioSecurity Act next…
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BioSecure Act Advances in US, Aiming to Curb Ties with Chinese Bioscience Firms
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US legislators are working expeditiously to finalize the BioSecure Act, legislation that, if enacted, would restrict interactions between US companies and several Chinese life sciences firms. According to details obtained by FiercePharma.com from recent amendments to the draft law, existing contracts between US firms and the listed Chinese entities will…
