Salute e Benessere
WuXi Biologics Reports Solid 2024 Interim Results
Financial Highlights
Business Highlights
Management Comment
stated, "Amid a dynamic macroeconomic and geopolitical environment, our business has demonstrated strong resilience. This is attributed to our unique CRDMO business model which we believe is the most efficient for our industry, as well as the successful implementation of our 'Follow and Win the Molecule' strategies. In the first half of 2024, we added 61 new integrated projects, including 4 from late-phase and commercial stages. This is a strong testament to our clients' endorsement of our exceptional execution and our technological leadership. Our client Curon's molecule was recently acquired by Merck & Co., Inc., highlighting a potential best-in-class CD3 asset (CN201), which was discovered, developed, and manufactured using 3 of our proprietary technology platforms, WuXiBody™, TCE platform and WuXiUP™."
added, "Our business fundamentals remain strong. The Company's unified and consistent quality systems, proprietary technology platforms, global talent pool - led by a seasoned management team and includes a strong technical team with over 4,200 scientists - and exceptional execution distinguish WuXi Biologics in our industry. We remain firmly committed to serving our global clients in the healthcare community and benefiting patients worldwide."
concluded, "WuXi Biologics delivered solid business performance in the first half of 2024 despite an uncertain external environment and challenging comparisons year over year. Looking ahead, we will continue to adhere to our end-to-end CRDMO business model, expand our global presence and further improve our execution. We will continue to enhance our R&D and manufacturing efficiencies, deliver superior value to our partners, and benefit patients worldwide as an end-to-end, one-stop service provider for the biopharmaceutical industry. We remain dedicated to delivering groundbreaking therapies to patients and fulfilling our vision that 'every drug can be made and every disease can be treated'."
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WuXi Biologics (stock code: 2269.HK) is a leading global Contract Research, Development and Manufacturing Organization (CRDMO) offering end-to-end solutions that enable partners to discover, develop and manufacture biologics – from concept to commercialization – for the benefit of patients worldwide.
With over 12,000 skilled employees in China , the United States , Ireland , Germany and Singapore , WuXi Biologics leverages its technologies and expertise to provide customers with efficient and cost-effective biologics discovery, development and manufacturing solutions. As of June 30, 2024 , WuXi Biologics is supporting 742 integrated client projects, including 16 in commercial manufacturing (excluding 8 COVID CMO projects and 1 non-COVID dormant CMO project).
WuXi Biologics views Environmental, Social, and Governance (ESG) responsibilities as an integral component of our ethos and business strategy, and we aim to become an ESG leader in the biologics CRDMO sector. Our facilities use next-generation biomanufacturing technologies and clean-energy sources. We have also established an ESG committee led by our CEO to steer the comprehensive ESG strategy and its implementation, enhancing our commitment to sustainability.
For more information about WuXi Biologics, please visit: www.wuxibiologics.com
This announcement may contain certain "forward-looking statements" that are not historical facts, but instead are predictions about future events based on our expectations as well as assumptions made by and information currently available to our management. Although we believe that our predictions are reasonable, future events are inherently uncertain and our forward-looking statements may turn out to be incorrect. Our forward-looking statements are subject to risks relating to, among other things, the ability of our service offerings to compete effectively, our ability to meet timelines for the expansion of our service offerings, and our ability to protect our clients' intellectual property. Our forward-looking statements in this announcement speak only as of the date on which they are made, and we assume no obligation to update any forward-looking statements except as required by applicable law or listing rules. Accordingly, you are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. All forward-looking statements contained herein are qualified by reference to the cautionary statements set forth in this section.
To supplement the Group's condensed consolidated financial statements which are presented in accordance with the IFRS, the Company has provided adjusted net profit, adjusted net profit margin, adjusted EBITDA, adjusted EBITDA margin and adjusted basic and diluted earnings per share as additional financial measures, which are not required by, or presented in accordance with, the IFRS.
The Company believes that the adjusted financial measures are useful for understanding and assessing underlying business performance and operating trends, and that the Company's management and investors may benefit from referring to these adjusted financial measures in assessing the Group's financial performance by eliminating the impact of certain unusual, non-recurring, non-cash and/or non-operating items that the Group does not consider indicative of the performance of the Group's core business. These non-IFRS financial measures, as the management of the Group believes, is widely accepted and adopted in the industry in which the Group is operating in. However, the presentation of these non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with the IFRS. Shareholders of the Company and potential investors should not view the adjusted results on a stand-alone basis or as a substitute for results under IFRS. And these non-IFRS financial measures may not be comparable to similarly-titled measures represented by other companies.
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