In today’s briefing:
- Wuxi Biologics (2269 HK): 2024 Revenue Meets Guidance; Poised for Accelerated Growth in 2025
- Wuxi Biologics (2269 HK) – The Concerns Behind 2024 Results and the Outlook in 2025
- Veeda Clinical Research Pre-IPO – Positioned for Growth Amid Financial Risks
- Merck’s $25 Billion Lifeline Is About to Expire — Here’s the Bold Plan to Replace It!
- SNGX: Preclinical Data Shows CiVax Booster Induces Broad Protection Against COVID-19
Wuxi Biologics (2269 HK): 2024 Revenue Meets Guidance; Poised for Accelerated Growth in 2025
- Wuxi Biologics (2269 HK) has reported 2024 result, with revenue growing 10% YoY to RMB19B and net profit increasing 11% YoY to RMB4B. Revenue from non-COVID business increased 13% YoY.
- Total backlog reached $18.5B as of December 31, 2024, including $10.5B service backlog and $8.0B upcoming potential milestone fees, while the total backlog within three years stood at $3.7B.
- Wuxi Biologics guided for 12–15% YoY revenue growth for 2025. Revenue from continuing operation (excluding revenue from Ireland Vaccines) is expected to grow 17–20% YoY in 2025.
Wuxi Biologics (2269 HK) – The Concerns Behind 2024 Results and the Outlook in 2025
- The performance of WuXi Bio in 2024 was mainly driven by WuXi XDC. If excluding the contribution from WuXi XDC, the growth of WuXi Bio in 2024 would be negative.
- WuXi Bio ‘s growth is slowing down and may not return to its previous high growth in the future.Investors may need to get used to around 20% annual growth ahead.
- High valuation is unjustified. P/E of about 30 is not cheap. We would recommend investors to take profits, and P/E of below 20 is a more comfortable place to buy.
Veeda Clinical Research Pre-IPO – Positioned for Growth Amid Financial Risks
- Veeda Clinical Research Ltd (3340714Z IN) (VCRL) is planning to raise about US$115m in its upcoming India IPO.
- VCRL is a global contract research organization offering comprehensive drug development services, including non-clinical, pre-clinical, clinical trials, and studies across diverse drug types like generics, biosimilars, and medical devices.
- The company operates in key global markets, including North America, Europe, and Asia, with a presence in India.
Merck’s $25 Billion Lifeline Is About to Expire — Here’s the Bold Plan to Replace It!
- Merck & Co.’s fourth-quarter 2024 financial performance reflects a complex landscape of strength in some areas alongside challenges in others.
- The company’s overall revenue increased by 7% to $15.6 billion, or 9% when accounting for foreign exchange impacts, partly driven by robust performance in its oncology and Animal Health segments.
- This growth trajectory, supporting strong demand for innovative products like KEYTRUDA, contrasts with notable headwinds faced with GARDASIL, particularly in the Chinese market.
SNGX: Preclinical Data Shows CiVax Booster Induces Broad Protection Against COVID-19
- On March 21, 2025, Soligenix, Inc. (SNGX) announced financial results for 2024 and provided a business update.
- The company recently announced a publication in the journal COVID highlighting preclinical results showing that CiVax , a thermostabilized subunit vaccine against SARS-CoV-2, in combination with a primary adenovirus vaccine induced broader protection against COVID-19 variants in non-human primates than a 2-shot mRNA series.
- The company’s ThermoVax platform has previously produced efficacious, thermostabilized vaccines for ricin toxin and filoviruses (Ebola, Marburg, etc.).
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