Healthcare Author: 叶柳 Editor: 张宇喆 Apr 01, 2021 04:39 PM (GMT+8)

Wuxi apptec said that the main reasons for the company's performance growth were the high growth of laboratories in China and the year-on-year growth of CDMO plate. China laboratory service is the core business of Wuxi apptec, accounting for more than 50% of its revenue. Its main business is small molecule drug discovery, drug analysis and testing.

Immanuel Kant

On March 31, Wuxi apptec released its financial report for 2020. According to the data, in 2020, the company achieved operating revenue of 16.535 billion yuan, a year-on-year increase of 28.5%; in 2020, the net profit attributable to the shareholders of the listed company was 2.960 billion yuan, a year-on-year increase of 59.6%.  

In 2020, there will be more than 1300 new customers and 4200 active customers. In terms of revenue structure, in 2020, the revenue of overseas customers reached 12.39 billion yuan, a year-on-year increase of 25.1%, and that of Chinese customers increased by 39.8% to 4.145 billion yuan, accounting for more than 25% of the company's revenue.

However, in 2020, the gross margin of IFRS of Wuxi apptec is 37.8%, which is slightly lower than the gross margin of 38.9% in 2019. The company said there were two reasons for the decline in gross margins: first, the impact of COVID-19's laboratory services in the US area, the decline in operational efficiency and the government's mandatory blockade and travel restrictions, resulting in a gradual decline in revenue and gross margin. Two, clinical research and other CRO services were also widely affected by the epidemic. The delay in patient recruitment and project led to a gradual decline in gross margin.  

At present, China's laboratory services, contract manufacturing R&D services (CDMO), US laboratory services, clinical research and other CRO services are the four main businesses of Wuxi apptec.  

Specifically, in 2020, China's laboratory services revenue increased by 32% to 8 billion 546 million yuan; CDMO services revenue increased 40.8% to 5 billion 282 million yuan; clinical research and other CRO services revenue increased by 10% to 1 billion 169 million yuan; while the main area affected by COVID-19 and the delayed progress of customer projects, the US regional laboratory services revenue decreased 3% to 1 billion 517 million yuan.  

In terms of drug R&D, in 2020, Wuxi apptec will help Chinese customers to complete the IND application of 33 research-based new drugs, obtain the clinical trial approval (CTA) of 30 projects, and increase the number of small molecule drug CDMO pipeline molecules by 575.

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