Wall Street funds back China’s WuXi AppTec as weight-loss drug orders soar
The News
US asset managers like BlackRock have increased their stakes in WuXi AppTec, a Chinese pharmaceutical contractor, over the past two months. This move is driven by expectations that rising orders for weight-loss drugs will boost the company's earnings in the first half of the year. Linda Shu of HSBC noted growing global investor interest in China's contract development and manufacturing organizations and biotechnology firms. WuXi AppTec is already heavily owned by institutional investors.
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The Analysis
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BlackRock and others betting on earnings lift from weight-loss drug orders.
US global asset managers, including BlackRock, have expanded stakes in WuXi AppTec over the past two months.
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Key findings
US global asset managers, including BlackRock, have expanded stakes in WuXi AppTec over the past two months.
South China Morning Post- BlackRock and others betting on earnings lift from weight-loss drug orders.
- Surge in orders expected to boost WuXi AppTec's first-half earnings.
Plain English
Loaded language removedUS global asset managers, including BlackRock, have expanded stakes in mainland Chinese pharmaceutical contractor WuXi AppTec over the past two months, betting that an increase in weight-loss drug manufacturing orders will lift earnings in the first half of the year.
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Claims
US global asset managers, including BlackRock, have expanded stakes in WuXi AppTec over the past two months.
South China Morning PostThe expansion is betting that a surge in weight-loss drug manufacturing orders will lift earnings in the first half of the year.
South China Morning PostGlobal investors were increasingly interested in China’s contract development and manufacturing organisation, and biotechnology sector.
South China Morning PostWuXi AppTec is heavily owned.
Opinion