WuXi AppTec Co. exceeded analysts' expectations by reporting third-quarter revenue of 10.5 billion yuan ($1.47 billion), which was a 2% decline compared to the previous year.
The company's performance is noteworthy considering concerns about a US bill that could limit its access to federally-funded contracts. In the first nine months of this year, WuXi AppTec earned 17.6 billion yuan from US clients, excluding revenue from Covid-19 projects, representing a 7.6% increase compared to the same period last year. This demonstrates the company's continued growth in the biopharmaceutical sector despite regulatory challenges.