WuXi Biologics Posts 16.7% Revenue Growth to RMB21.8B and 45.3% Profit Gain
WuXi Biologics’ 2025 revenue rose 16.7% YoY to RMB21.8 billion, with adjusted gross profit margin expanding 340bps to 48.8% and IFRS net profit up 45.3% YoY. Free cash flow surged over 70% to RMB2.3 billion, backlog reached US$23.7 billion, and 209 new integrated projects were signed.
1. 2025 Financial Highlights
WuXi Biologics achieved RMB21.8 billion in revenue for 2025, a 16.7% year-over-year increase driven by higher utilization of existing and expanded manufacturing capacity. Adjusted gross profit margin widened by 340 basis points to 48.8%, IFRS net profit climbed 45.3%, adjusted net profit rose 22.0%, and free cash flow jumped over 70% to RMB2.3 billion.
2. Pipeline Growth and Backlog
The Group signed a record 209 new integrated projects, including six late-stage programs, bringing the total integrated project portfolio to 945. A pipeline of 156 IND filings in 2025 and 28 completed PPQs underpins a backlog of US$23.7 billion, with US$4.5 billion contracted within the next three years.
3. R&D Innovation and Capacity
Bispecific antibodies and ADCs comprised two-thirds of new signings, delivering over 120% YoY revenue growth in complex biologics. The launch of an industry-leading targeted integration cell line platform achieved 8+ g/L titer with IND-ready clones in six months, while annual capacity expanded to support 200 INDs and 20 BLAs/MAAs.