[ET Net News Agency, 17 September 2019] Goldman Sachs reinstated a "buy" rating on Wuxi
Apptec (02359) with a target price of HK$93.23.
It sees Wuxi growing from a leading CRO/CMO (contract research organization/contract
manufacturing organization) service provider to long-term R&D partner and healthcare
innovation enabler, well-positioned to seize the opportunities in global R&D outsourcing
and the shift to drug innovation in China.
Goldman noted that Wuxi with its (1) state-of-the-art drug discovery platform, which is
still evolving to capture world-class technology, (2) a one-stop service platform
throughout the lifecycle of a drug's development, enabling R&D efficiency; and (3)
extensive and diversified customer network. (KL)