Chinese biotech giant WuXi AppTec raises 2026 outlook after profit surge

WuXi AppTec raised its full-year revenue guidance after its net profit surged 62.4 per cent in the first nine months of 2026, while revenue rose 38.6 per cent on strong demand for its drug development and manufacturing services.

The Chinese pharmaceutical research services provider’s net profit reached 19.16 billion yuan (US$2.87 billion) for the nine months ended September 30, compared with 11.80 billion yuan a year earlier, a filing to the Hong Kong stock exchange showed. Its revenue rose to 45.54 billion yuan from 32.86 billion yuan.

The Shanghai-based company raised its full-year revenue forecast to 61 billion to 61.9 billion yuan, from 58.5 billion to 60.5 billion yuan previously projected, according to the filing. Revenue from continuing operations was now expected to grow 40 per cent to 42 per cent, compared with its previous forecast of 35 per cent to 39 per cent.

Revenue from continuing operations rose 46.3 per cent to 45.54 billion yuan for the first nine months from one year earlier, while its backlog from continuing operations increased 36.4 per cent to 76.74 billion yuan during the same period.

WuXi AppTec’s chemistry business, its largest segment, recorded year-on-year revenue growth of 51.5 per cent to 39.36 billion yuan in the first three quarters. Revenue from small-molecule drug development and manufacturing services rose 65.6 per cent to 23.58 billion yuan over the same period.

Revenue from its testing business increased 32 per cent to 3.91 billion yuan year on year in the first three quarters this year, while its biology business grew 12.4 per cent to 2.19 billion yuan.

WuXi AppTec said it had accelerated capacity planning to meet growing customer demand, including bringing a new site in Changzhou into operation ahead of schedule.

It also raised its full-year adjusted free cash flow forecast to 14.5 billion to 15.5 billion yuan, from 13.5 billion to 14.5 billion yuan previously, while increasing its capital expenditure forecast to 8 billion to 8.5 billion yuan.

The results come as the Chinese biotechnology firm faces scrutiny from Washington. The US Department of Defence added the company to its list of Chinese military companies in June, a designation the company challenged in court.

A US federal court in August preliminarily barred enforcement of the designation, although broader US restrictions on dealings with Chinese biotechnology companies remain a potential risk.

WuXi AppTec shares closed 1.2 per cent higher at HK$188.30 on Monday, before the release of its quarterly results.