WuXi Biologics adds 151 projects, revenue up 9.6% in 2024

WuXi Biologics announced a 9.6% increase in revenue for the year ended December 31, 2024, reaching RMB18,675.4 million, driven by a 13.1% year-on-year growth in non-COVID revenue. The company added 151 new integrated projects, bringing the total to 817. Late-phase and non-COVID commercial manufacturing projects increased to 66 and 21, respectively, with 16 Process Performance Qualification projects completed. Gross profit rose by 12.1% to RMB7,650.8 million, while net profit increased by 10.5% to RMB3,945.4 million. The company's total backlog reached $18.5 billion USD. It also successfully GMP released three sets of 5,000L single-use bioreactors at its Hangzhou site and all three Ireland facilities secured GMP certification from the Irish Health Products Regulatory Authority. The company has also launched a research service center in Boston, MA. In January 2025, WuXi Biologics agreed to sell its Vaccines Ireland Facility to MSD International.