Biologics firm sees good growth

WuXi Biologics (Cayman) (2269) yesterday said it expects huge growth in the first half of 2022 as Brii Biosciences (2137) revealed it had entered into a partnership with China Resources Pharmaceutical Commercial Group to distribute its new Covid drug.

WuXi Biologics said it expects revenue for six months ended June 30 will increase between 61 percent and 63 percent, and net profit to widen between 35 percent and 37 percent.

The increase was primarily attributable to a "follow and win the molecule" strategy that won more customers, the ability to undertake, promptly execute and generate revenue from existing and new projects to support global clients in combatting Covid, leading technology platforms, and an enlarged spectrum of services offered to the biologics industry.

Meanwhile, Brii Biosciences announced that its majority-owned joint venture TSB Therapeutics (Beijing)is partnering with China Resources Pharmaceutical Commercial to advance stockpiling, channel distribution and hospital access for its neutralizing monoclonal antibody therapy, the amubarvimab/romlusevimab combination drug.

The drug for the treatment of adults and children with Covid-19 was approved by the National Medical Products Administration of China last December and made commercially available earlier this month.