WuXi AppTec raised its 2026 revenue forecast for a second time after a 51.5% increase in chemistry sales helped lift nine-month revenue at the pharmaceutical services company.
The company now expects full-year revenue of RMB 61.0 billion to RMB 61.9 billion, compared with the RMB 58.5 billion to RMB 60.5 billion range it set in August. That August forecast had also been raised, from RMB 51.3 billion to RMB 53.0 billion.
Revenue for the nine months ended Sept. 30 rose 38.6% from a year earlier to RMB 45.54 billion. Revenue from continuing operations increased 46.3%, using a prior-year comparison adjusted for discontinued operations.
WuXi Chemistry generated RMB 39.36 billion, up 51.5%. WuXi AppTec linked the increase to drug projects moving into later stages of development and capacity added during 2025. Within the business, small-molecule development and manufacturing revenue climbed 65.6% to RMB 23.58 billion.
The company’s backlog from continuing operations stood at RMB 76.74 billion on Sept. 30, a 36.4% increase from a year earlier. Its chemistry pipeline contained 3,863 molecules, including 103 commercial projects. WuXi AppTec said it began work on a new Changzhou site ahead of schedule to meet demand.
WuXi AppTec Chairman and CEO Ge Li credited the success of multiple customers’ products and the company’s research, development and manufacturing services for its growth. The company did not identify those products or quantify their contribution.
Profit attributable to owners under International Financial Reporting Standards (IFRS) was RMB 19.16 billion for the nine-month period. Adjusted non-IFRS profit attributable to owners, a separate measure, rose 74.4% to RMB 18.38 billion. The adjusted non-IFRS gross profit margin was 54.8%. The third-quarter report is unaudited.
Net cash from operating activities totaled RMB 16.61 billion. WuXi AppTec reported an adjusted figure of RMB 17.28 billion after adding back RMB 671.5 million in tax payments related to significant equity and business sales.
For 2026, the company forecasts 40% to 42% growth in continuing-operations revenue, capital spending of RMB 8.0 billion to RMB 8.5 billion and adjusted free cash flow of RMB 14.5 billion to RMB 15.5 billion.
