Asia Tech Wire (July 30) -- Chinese drugmaker WuXi AppTec Co Ltd (2359.HK) said 80% of orders on hand will get translated into revenue by the end of 2025.

WuXi AppTec said at an earnings call on Tuesday that more than 80% of orders on hand will be translated into revenue in the next 18 months, or by the end of 2025, based on its current delivery plan for orders on hand.

The company said its order growth came primarily from the WuXi Chemistry business division, which saw 147% growth in its new molecules business.

In addition, orders on hand in the early-stage Testing and Biology businesses declined mainly due to price, but demand increased.

At the end of June 2024, WuXi AppTec had a record high order book on hand worth 43.1 billion yuan, up 33.2% year-on-year excluding specific commercial production projects.