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New documents show how a retail chain’s sales practices helped put guns on US streets China’s pharmaceutical contractors are showing financial resilience in the face of Washington’s push to curb reliance on Chinese supply chains.
Analysts said investors were bullish because the US government’s recent measures to curb Beijing’s rise as a global pharmaceutical supplier had met resistance from industry players reluctant to give up China’s cost advantages.
Hong Kong-listed shares of WuXi AppTec, Asia’s largest provider of contract pharmaceutical research, gained 3 per cent on Monday to reach a new high of HK$203.40, while Genscript Biotech, the world’s largest gene synthesis service provider, rose 4.8 per cent to HK$26.08.
Genscript posted adjusted net profit of US$62.52 million for the six months ended June 30, a 203 per cent year-on-year surge, according to a filing with the Hong Kong stock exchange on Sunday. The growth was driven by accelerating demand for integrated gene-to-protein solutions tied to AI-driven drug discovery.
Genscript Biotech raised its full-year guidance for its life science service segment, covering DNA, RNA and peptide synthesis tools alongside protein production services, to a range of 25 to 30 per cent for the full year. The segment accounts for most of its revenue.
AI-driven drug discovery orders were expected to “double in the second half” and would remain strong over the next several years, chief financial officer Phil Zhou said on an earnings call.
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