Wall Street funds back China’s WuXi AppTec as weight-loss drug orders soar

US global asset managers, including BlackRock, have increased their investments in Chinese pharmaceutical contractor WuXi AppTec in recent months. This expansion of stakes is driven by the expectation that a significant increase in manufacturing orders for weight-loss drugs will boost WuXi AppTec's earnings in the first half of the year. Global investors are showing growing interest in China's contract development and manufacturing organization and biotechnology sectors. Linda Shu, head of China healthcare research at HSBC, noted that WuXi AppTec is heavily held due to high expectations for its performance in the first half of the year.