China’s WuXi AppTec reports revenue up 21% in Q1, accelerates global capacity expansion
WuXi AppTec announced that in the first quarter of 2025 both revenue and profit resumed double-digit growth, with total revenue up 21% year-over-year. However, in its Q1 financial results, the company made no mention of U.S.-China tariffs.
The China-based contract research, development and manufacturing organization (CRDMO) expects that revenue from continuing operations will grow 10% to 15% this year.
“Our backlog for continuing operations sustained rapid growth, as we maintained our laser focus on leveraging WuXi AppTec’s unique CRDMO platform to expand delivery of enabling services across research, development and manufacturing,” CEO Ge Li said in a statement, noting that the company maintains its full-year guidance set at the beginning of 2025.
WuXi AppTec is accelerating its global development and manufacturing capacity expansion, growing both total reactor volume of small molecule active pharmaceutical ingredients (APIs) and total reactor volume of solid phase peptide synthesizers.
“By the end of 2025, total reactor volume of small molecule APIs is expected to reach over 4,000kL, and the total reactor volume of Solid Phase Peptide Synthesizers is expected to increase to more than 100,000L,” according to the announcement.
In March, WuXi AppTec announced that both the Changzhou and Taixing API manufacturing sites in China successfully passed FDA inspections with no observations. The Taixing site, which has been operational since September 2023, is the company’s newest and largest API manufacturing facility.
Earlier this month, WuXi AppTec announced it sold 50.8 million shares in its sibling company WuXi XDC, a contract developer and producer of antibody-drug conjugates (ADCs), for approximately $281 million. It said the cash proceeds will be used to accelerate the construction of global production capacity and capabilities.
WuXi AppTec’s investment last year in its Couvet, Switzerland site doubled oral dose capacity. The company is building a formulation development and manufacturing site in Middletown, Delaware, which is expected to start operations by the end of 2026. In May 2024, WuXi AppTec broke ground to construct an R&D and manufacturing site in Singapore with the Phase I portion slated to begin operations in 2027.