{"id":30570,"date":"2025-03-26T15:49:02","date_gmt":"2025-03-26T07:49:02","guid":{"rendered":"https:\/\/flcube.com\/?p=30570"},"modified":"2025-03-26T15:49:04","modified_gmt":"2025-03-26T07:49:04","slug":"wuxi-biologics-reports-9-6-revenue-growth-in-2024-expanding-crdmo-services","status":"publish","type":"post","link":"https:\/\/flcube.com\/?p=30570","title":{"rendered":"WuXi Biologics Reports 9.6% Revenue Growth in 2024, Expanding CRDMO Services"},"content":{"rendered":"\n

China-based Contract Research, Development and Manufacturing Organization (CRDMO) WuXi Biologics (HKG: 2269<\/a>) has released its 2024 financial report, recording revenues of RMB 18.68 billion (USD 2.57 billion) after a 9.6% year-on-year (YOY) increase. Non-COVID revenue grew by 13.1% YOY, driven by successful execution of the company’s strategies, expanded service offerings, growth in research services, and increased capacity utilization.<\/p>\n\n\n\n

Revenue Growth Drivers<\/strong>
The revenue growth was primarily attributed to:<\/p>\n\n\n\n

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  1. Successful execution of WuXi Biologics’ “Follow and Win the Molecule” strategies, supported by a leading technology platform, industry-best timelines, and a strong execution track record.<\/li>\n\n\n\n
  2. Expanded service offerings to the biologics industry, including fast-growing technology platforms such as antibody-drug conjugates (ADCs) and bispecific antibodies.<\/li>\n\n\n\n
  3. Growth in research services revenue from various cutting-edge technologies.<\/li>\n\n\n\n
  4. Utilization of existing and newly expanded capacities, including ramp-up of manufacturing sites in Europe.<\/li>\n<\/ol>\n\n\n\n

    Geographical Revenue Breakdown<\/strong>
    By geography:<\/p>\n\n\n\n