[Brokerage Focus] Citi raises the target price of Wuxi AppTec (02359) to HK$48, but uncertainties remain regarding the Mie Biosecurity Act.

Jingu Cai Xun | CITIC International issued a research report, indicating that Wuxi Apptec (02359) saw a year-on-year decrease of 6.2% in revenue to 27.7 billion yuan in the first three quarters, but excluding the revenue from the new crown project in 2023, the revenue increased by 4.6% year-on-year. Shareholders' net income in the first three quarters decreased by 19.1% year-on-year to 6.53 billion yuan, reflecting a 10.1% year-on-year decline in Non-IFRS adjusted net income reflecting the profitability of core business, to 6.68 billion yuan, with the year-on-year decline narrowing compared to the first half of the year. The performance of the main chemical business (accounting for over 70% of the company's revenue) improved in the third quarter, exceeding expectations slightly. Excluding

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Earnings Miss: WuXi AppTec Co., Ltd. Missed EPS By 6.0% And Analysts Are Revising Their Forecasts

Simply Wall StOct 30 18:30 ET

Trending Industry Today: TIGERMED Leads Losses In CRO Stocks

Moomoo NewsOct 30 03:00 ET

zheshang: Continuous realization of technological innovation upgrade driving the continuous improvement of performance expectations for innovative drugs and industry chain.

The commercialization period of innovative drugs in the industry chain, driven purely by incremental value, is entering the phase of realization. The scarce incremental prosperity of the pharmaceutical sector continues to rise, with increasing international competitiveness, and there is still room for upward valuation.

Zhitong FinanceOct 29 22:28 ET

wuxi apptec has won the 'Global CRDMO Company of the Year Award' from Frost & Sullivan for eight consecutive years.

On October 30, 2024, Shanghai / PRNewswire/ -- Recently, global growth consulting firm Frost & Sullivan announced the results of the 2024 "Best Practices Awards", with Wuxi AppTec winning the "2024 Global CRDMO Company of the Year" award for its industry-leading integrated, end-to-end new drug R&D and production empowerment platform. This marks the eighth consecutive year that Wuxi AppTec has been recognized by the institution. Frost & Sullivan

PR NewswireOct 29 20:00 ET

WuXi AppTec Named Global CRDMO Company of the Year by Frost & Sullivan for the Eighth Consecutive Year

PR NewswireOct 29 20:00 ET