WuXi AppTec reports record revenue in 2025 despite US-China geopolitical tensions

For 2025, WuXi AppTec announced that both revenue and profit reached record highs, with revenue from continuing operations growing 21.4% year-over-year. In 2026, the Shanghai, China-headquartered company expects revenue from continuing operations to grow between 18% and 22% year-over-year.

In an earnings call, Co-CEO Minzhang Chen said revenue generated from the U.S. market increased $34.3% year-over-year, while Japan, Korea, and other regions grew 4.1% and Europe and China “saw some decline.”

With operations across Asia, Europe, and North America, Chen said the company remains focused on its core contract research, development and manufacturing organization (CRDMO) business, as it looks to accelerate the growth of WuXi AppTec’s global capabilities and capacity while improving production and operational efficiency.

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 year-end, our total reactor volume of small molecule APIs has reached over 4,000kL, while total reactor volume of solid phase peptide synthesizers has reached over 100,000L,” according to the company, which noted that its facilities in Suzhou and Shanghai successfully passed multiple regulatory inspections by FDA, OECD, NMPA, and PMDA.

Last year, WuXi AppTec’s Changzhou, Jinshan, and Taixing API sites successfully passed FDA on-site inspections with no single observation. The Taixing site, which has been operational since September 2023, is the company’s newest and largest API manufacturing facility. In September 2025, the site completed peptide capacity construction ahead of schedule, the company said.

WuXi AppTec is building a formulation development and manufacturing site in Middletown, Delaware, which is expected to start operations by the end of 2026, and in May 2024 broke ground on an R&D and manufacturing site in Singapore — with the first API plant slated to begin operations in 2027.

“Our U.S. plant, which is in Middletown, Delaware, is for drug product,” Chen said. “It will have both oral solid dosage and injectables once operational. In Q4 this year, we’re going to start operations of the oral solid dosage. A year later, in Q4 next year, we’re going to start injectables.”

Chen also called out WuXi AppTec’s investment in its Couvet, Switzerland site, which has doubled oral dose capacity.   

In 2025, WuXi AppTec added 839 new molecules to its small molecule development and manufacturing (D&M) pipeline bringing the total to 3,452 molecules as of year-end, including 83 commercial projects, 91 in Phase III, 377 in Phase II, and 2,901 in Phase I and pre-clinical stages. He also noted that commercial and Phase III projects increased by 22 last year.

“As we continue to strengthen the capabilities of our integrated CRDMO platform, we consistently enhance the internal conversion of molecules at the different stages,” Chen said.

BIOSECURE Act and 1260H list

In December 2025, as part of the Fiscal Year 2026 National Defense Authorization Act, President Donald Trump signed into law the BIOSECURE Act which limits U.S. government procurement from and grants to “biotechnology companies of concern” (BCC).

Under the BIOSECURE Act, a company is considered a BCC if it is included in the Department of Defense’s 1260H list of “Chinese military companies” operating in the U.S., and involved in manufacturing, distribution, provision, or procurement of biotechnology equipment or services, as determined by the Office of Management and Budget.

In previously proposed drafts of the BIOSECURE Act, WuXi AppTec — along with other Chinese companies — were named in the legislation for the purpose of barring them from U.S.-funded research and contracts. However, what Trump signed into law at the end of 2025 didn’t specifically name WuXi AppTec as a company of concern.

Nonetheless, the U.S. Department of Defense last month posted a list of Chinese companies — including WuXi AppTec — determined to be either directly or indirectly owned by, controlled by, or acting on behalf of China’s military and then quickly withdrew the document. Had WuXi AppTec been designated a Chinese military company and added to the 1260H list, it would have put the company under the scope of the BIOSECURE Act.

“The final 1260H list for 2026 has not been officially published and there’s no definitive timetable at this time when this is going to be published,” Chen told analysts during WuXi AppTec’s earnings call.

However, he said the company is “very confident that WuXi AppTec shall not be included in the 1260H list.” Chen added that the Chinese CRDMO is “not owned or controlled by any government” nor is it “affiliated with any government or military organization.”