WuXi AppTec, Asia’s largest provider of contract pharmaceutical research, posted net income that smashed market expectations in the first half of the year amid strong demand tied to weight-loss and diabetes drugs, as well as gains in its US business. WuXi AppTec is currently building manufacturing capacity for active pharmaceutical ingredients (APIs) in Singapore and is mulling multiple overseas sites for potential API expansion. The company has also raised its total revenue target for 2026 to between 58.5 billion yuan and 60.5 billion yuan. Earlier this year, it had forecast full-year revenue of between 51.3 billion yuan and 53 billion yuan, with continuing operations expected to expand 18 to 22 per cent, year on year. Hong Kong’s stock benchmark, the Hang Seng Index, rose 0.48 per cent on Monday.