WuXi AppTec and WuXi Biologics specifically were put under pressure last year with the introduction of the BIOSECURE Act, the future of which remains in limbo.
Shortly after WuXi AppTec provided an upbeat outlook for 2025, several other WuXi sibling companies are coming forward with their own 2024 success stories and ambitions for the year to come.First to report this week was bioconjugate CRDMO WuXi XDC, which spun off from WuXi Biologics in 2023. Over the course of 2024, the company logged roughly 4.05 billion Chinese yuan ($559 million) in total revenues, representing an impressive 90.8% jump over the 2.12 billion yuan it generated in 2023.WuXi XDC credited that growth to a spike in customer projects in both antibody-drug conjugates (ADCs) and the broader bioconjugation scene, as well as the steady progression of the company’s projects into later stages of development.In a sign of the company’s success, WuXi XDC noted that 13 of the top 20 global pharmaceutical companies by 2023 revenue have partnered with the contractor on projects at various stages. Overall, the company boasts a rolodex of 499 cumulative customers, WuXi XDC said in a press release Monday.Specificially, the company’s total number of integrated ADC projects reached 177 last year, while broader bioconjugate projects—which WuXi refers to as XDC projects—climbed to 17. Given last year’s momentum, WuXi XDC continues to scale up its business.Alongside capacity expansions planned to go live in 2025 and 2027, the company is touting the expected completion of a new manufacturing site in Singapore by the end of the year. Unveiled last year, the Singapore site will include manufacturing lines for monoclonal antibody intermediate, drug substance and drug product. The site will also house quality control labs and warehouse space.WuXi XDC did not provide formal guidance for the remainder of 2025, though the company’s CEO, Jimmy Li, stressed in a statement that he believes the CRDMO will “continue to win customers, and increase our market share going forward.” WuXi BiologicsAside from WuXi XDC, the company’s contracting sibling WuXi Biologics also touted solid 2024 performance this week, tallying 9.6% year-over-year sales growth to nearly 18.7 billion yuan ($2.6 billion). Taking COVID-related projects out of the mix, WuXi Biologics total 2024 revenue grew 13.1% year over year, the company said Tuesday.Among several other wins last year, WuXi Bio pointed to the swift growth of certain technology platforms in its portfolio, such as ADCs and bispecific antibodies, as well as recent capacity expansions and a production ramp-up in Europe.All told, the company added 148 new development projects in 2024, spanning bispecific and multispecific drugs, ADCs, fusion proteins and vaccines. On the manufacturing front, the company last year chipped in on 66 late-stage projects and 21 commercial production projects unrelated to COVID. At the same time, WuXi Bio says it knocked out 16 process performance qualification (PPQ) projects and has another 24 scheduled for 2025.At the end of last year, WuXi Bio says it had amassed a total backlog of $18.5 billion, made up of $10.5 billion in service bids and $8 billion in potential milestones. That said, the company’s decision earlier this year to sell a vaccine plant in Dundalk, Ireland, to Merck & Co. hived $3 billion off that services backlog total, WuXi Bio noted in its earnings release.For the year to come, WuXi Bio’s CEO Chris Chen said he expects his company to chart “accelerated and profitable growth in 2025 and beyond.”The updates from WuXi Bio and WuXi XDC follow WuXi AppTec’s announcement last week that the CRDMO giant’s total 2024 sales had slipped slightly to 39.25 billion yuan ($5.4 billion). Nevertheless, the company is keeping its head up and expects to deliver sales growth between 10% and 15%, or roughly 41.5 billion yuan ($5.7 billion) to 43 billion yuan ($5.9 billion) in total this year.WuXi AppTec and WuXi Biologics specifically were put under pressure last year with the introduction of the BIOSECURE Act, which sought to block federal contracts with five named life sciences companies from China over alleged national security concerns.While the bill rallied support from both Republicans and Democrats, it generally proved less popular among the biopharma industry itself, with some decrying the legislation as politically motivated. After failing to be included in a key defense spending bill late last year, BIOSECURE’s current fate looks uncertain.Still, new unknowns, like the ultimate fallout from China trade tariffs recently imposed by President Donald Trump, could continue to hang over the success of the WuXi family of companies.