JPM26: WuXi Biologics says it is poised for sustainable, high growth

Fueled by complex modalities such as antibody-drug conjugates (ADCs) and bispecific/multispecific antibodies, WuXi Biologics is scaling its integrated contract research, development, and manufacturing organization (CRDMO) capabilities in Asia and U.S. while expanding the company’s global network into the Middle East.

In a presentation on Wednesday at the J.P. Morgan Healthcare Conference in San Francisco (JPM26), CEO Chris Chen said bispecific/multispecific antibodies represent WuXi Biologics’ most exciting, fastest-growing, and highest‑margin modality — contributing nearly 20% of the company’s revenue and year-over-year growth exceeding 120% — with an acceleration expected in 2026.

“We will further enable client success by scaling global manufacturing capacity, advancing modality innovation, and accelerating speed and execution,” Chen told the JPM26 conference.

In 2025, the China-headquartered company added 209 new integrated projects — increasing the total to 945 — with approximately half of the new projects from U.S. customers. Last year, ADC and bispecific/multispecific antibody projects continued to expand at WuXi Biologics, growing by about 30% reaching 196 and 252 projects, respectively. Together, these complex modalities account for almost 50% of the total pipeline.

Chen called out complex modalities as a “core growth engine” for WuXi Biologics, with about two-thirds of new integrated projects made up of ADCs and bispecific/multispecific antibodies. He made the case that the company’s “Win-the-Molecule” business strategy will result in sustainable, high growth in 2026 and beyond.

Scaling global manufacturing capacity

Manufacturing is positioned for accelerated growth driven by an expanding commercial portfolio and “revenue ramp per program” over time, according to WuXi Biologics. At JPM26, Chen claimed that a “leading indicator of manufacturing growth” is the number of process performance qualifications (PPQs).   

WuXi Biologics completed 28 PPQs in 2025 and has 34 PPQs scheduled for 2026 based on current contracts, reflecting “strong momentum” in contract manufacturing organization (CMO) services, while achieving a 99% success rate on PPQ batches and ranking among the industry’s top performers, Chen said.

Chen touted WuXi Biologics’ adoption of disposable manufacturing, which he argued the company “pioneered” and has proven to be cost-effective, flexible and agile, effectively accommodating both small- and large-volume products — with single-use technology scaled out to large batch sizes comparable to stainless steel tanks.

Since 2017, WuXi Biologics has delivered more than 350 large‑scale batches (6,000L to 16,000L per batch) for its global partners, according to Chen.

WuXi Biologics’ Dundalk, Ireland facility received approval from the European Medicines Agency (EMA) as a commercial manufacturing site for a client’s biologic. The authorization marked the first commercial launch of a biologic from its Irish site. The facility includes perfusion capacity of 6,000L and 48,000L fed-batch capacity, making it a key hub for the company’s global network.

Last year, WuXi Biologics started construction for a new modular drug product (DP) facility in Singapore, a 30,000-square-meter building which will be one of the world’s largest modular biologics DP facilities. Under the strategic collaboration with Pharmadule Morimatsu, 470 modular components were being fabricated at Morimatsu’s plant in Changshu City, China. Once completed, the components will be transported to Singapore’s Tuas Biomedical Park for installation. Operations are slated to start in 2027.

In 2025, WuXi Biologics also began construction on a 95,000-square-meter microbial manufacturing facility in Chengdu, China, to expand commercial production capabilities. The site will be equipped with a 15,000L fermenter, with future expansion potential to 60,000L, and what the company claims will be China’s first dual-chamber lyophilization line. Wuxi will use its microbial expression platform for high-yield, scalable production of non-mAb recombinant proteins, with GMP readiness targeted for the end of 2026.

Last month, WuXi Biologics announced a memorandum of understanding with the Qatar Free Zones Authority to establish its first integrated CRDMO center in the Middle East. The site will combine WuXi Biologics’ development and manufacturing services with Qatar’s infrastructure and regulatory support, providing biologics development for ADCs and bispecific-multispecific antibodies.

“Qatar is probably the only country where we can replicate the execution and the profit margin of our China site,” Chen said on Tuesday at JPM26, who estimated $500 million to $800 million in Qatar’s revenue by 2030. “It’s such a friendly business environment.”

WuXi Biologics is also increasing its strategic investments in the U.S., according to Chen, who pegged the total expenditure — combined with its subsidiary WuXi XDC — at approximately $1 billion.

“By leveraging cross‑site synergies among facilities in New Jersey and Massachusetts, the company enables the seamless transfer of materials, samples, and products across the U.S.,” the company said. Chen noted that WuXi Biologics’ goal is to provide an “alternative supply chain in U.S. end to end.”    

When it comes to automation, Chen said the company’s vision for manufacturing is that within three years it won’t need anyone in the plants which will run by themselves using fully automated, continuous processing.    

On Monday, WuXi Biologics launched its PatroLab digital twin platform which is designed to transform bioprocessing and manufacturing, with automated control strategies meant to replace manual interventions and drive higher efficiency, reliability, and consistency in biomanufacturing.