Goldman Sachs: The recovery pace of the CRO/CDMO industry is clear, bullish on WuXi AppTec, WuXi XDC, and others.

Goldman Sachs published a research report stating that the second quarter and first half results this year reflect a clear recovery in China's CRO/CDMO industry, with corporate earnings exceeding expectations, upward guidance revisions, and strong orders. The bank gave a "Buy" rating to WuXi AppTec, WuXi XDC, Asymchem, and Pharmaron, while giving a "Neutral" rating to WuXi Biologics. Biotech companies turned profitable in the first half, with BD revenue and operating leverage also supported, attracting investor attention. Coupled with easing market concerns over anti-corruption campaigns, the industry favors Innovent Biologics, Kelun-Biotech, KeyMed Bio, Genfleet Therapeutics, and Hansoh Pharma, giving them "Buy" ratings.