At the 44th Annual JP Morgan Healthcare Conference on January 14, 2026, Dr. Minzhang Chen, co-CEO of WuXi AppTec, addressed attendees. He highlighted the company's integrated CRDMO model and increasing involvement in late-stage and commercial assets as primary factors for ongoing growth.
Dr. Chen shared preliminary 2025 figures during his presentation. Revenue from continuing operations hit 45.5 billion yuan, marking a 21.4% increase compared to the previous year. Adjusted non-IFRS net profit was 15 billion yuan, yielding a net profit margin of 32.9%, up 5.9 percentage points year-on-year. The company's backlog surpassed 55 billion yuan. "Our backlog provides strong visibility for the growth we are building," Dr. Chen stated. Complete annual results and official 2026 guidance are scheduled for release in March.
He described these outcomes as confirmation of WuXi AppTec's end-to-end CRDMO platform. This platform assists clients from initial drug discovery through clinical trials and commercial production. The model facilitates internal conversion as drug molecules advance, deepening client relationships and allowing the company to benefit from high-value, late-stage initiatives.
This trend is becoming more evident in the company's project portfolio. WuXi AppTec currently manages over 3,400 small-molecule CDMO projects, with a rising proportion in Phase III and commercial-stage drugs. Revenue from these later-stage assets has increased significantly, indicating greater project complexity and stronger partnerships with customers.
Dr. Chen noted that regulatory performance continues to set the company apart. In 2025, the U.S. Food and Drug Administration approved 30 new small-molecule drugs; eight of these approvals involved support from WuXi AppTec. Over the last five years, the company has contributed to approximately 21% of FDA-approved small-molecule new drugs. It currently supports about one in seven commercial-stage GLP-1 drugs available on the market, solidifying its position in late-stage development and commercialization.
The company also reported progress in GLP-1 therapies, currently supporting 24 GLP-1 drugs across clinical and commercial phases. Momentum in peptide and Oligonucleotide therapies was mentioned as well. Capacity in these areas more than doubled in 2025, with enhanced capabilities preparing the company to address growing demand for these emerging treatment modalities.
Concluding his remarks, Dr. Chen said WuXi AppTec's expanding late-stage portfolio, robust internal conversion, and record backlog equip the company to sustain resilient growth and cash flow across industry cycles. This positions it to continue investing in capacity and returning capital to shareholders.