WuXi AppTec Receives Investment Grade Corporate Ratings from Three Global Rating Agencies

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Nov 06, 2019, 03:00 ET

SHANGHAI, Nov. 6, 2019 /PRNewswire/ -- WuXi AppTec announced today that it has received investment grade corporate credit ratings from three global rating agencies: Moody's (Baa3), S&P Global Ratings (BBB-), and Fitch Ratings (BBB-); all three agencies maintain a stable outlook on WuXi AppTec. These ratings reflect WuXi AppTec's leading market position as an integrated end-to-end R&D service platform with strong growth prospects, healthy cash flow and balance sheet, modest leverage and ample liquidity. Third-party recognition of WuXi AppTec's financial stability enables the Company to also fund future growth with debt.

About WuXi AppTec

WuXi AppTec provides a broad portfolio of R&D and manufacturing services that enable companies in the pharmaceutical, biotech and medical device industries worldwide to advance discoveries and deliver groundbreaking treatments to patients. As an innovation-driven and customer-focused company, WuXi AppTec helps our partners improve the productivity of advancing healthcare products through cost-effective and efficient solutions. With industry-leading capabilities such as R&D and manufacturing for small molecule drugs, cell and gene therapies, and testing for medical devices, WuXi AppTec's open-access platform is enabling more than 3,700 collaborators from over 30 countries to improve the health of those in need – and to realize our vision that "every drug can be made and every disease can be treated." Please visit: http://www.wuxiapptec.com

SOURCE WuXi AppTec