Longevity weekly pulse

Latest edition · September 2, 2026

Transformational Innovation Opportunities (TRIO) en 1665628

WuXi Biologics and Innovent Biologics reported strong 1H26 financial results exceeding market expectations, underpinned by accelerating domestic revenue, richer product mixes, and margin expansion. UBS reiterates both companies as preferred exposures within its Longevity theme.

In this Longevity weekly pulse, UBS highlights broad-based 1H26 earnings beats from Chinese biopharma holdings WuXi Biologics and Innovent Biologics. WuXi Biologics saw revenue growth beat consensus, bolstered by 51% China revenue expansion, robust pre-IND demand, margin expansion to 48.4%, and an upgraded FY26 revenue guidance of 15-18%. Innovent reported a 44.8% increase in revenue to CNY 8.6bn and a 50.2% jump in net profit, driven by strong product sales, commercial operating leverage, and advancing clinical candidates such as mazdutide. Both names demonstrate how Chinese healthcare firms are capitalizing on innovation, licensing, and global expansion.

Key takeaways from the latest edition

• 1.WuXi Biologics beat 1H26 expectations with 27% growth in pre-IND services, 51% China revenue growth, expanded margins of 48.4%, and raised reported FY26 revenue guidance to 15-18%.
• 2.Innovent Biologics demonstrated substantial operating leverage in 1H26, with revenue up 44.8% y/y and net profit surging 50.2% y/y, supported by commercial scaling and clinical pipeline progress.
• 3.China's healthcare sector offers structural growth potential via innovation cycles, rebounding biotech funding, and global out-licensing, keeping WuXi and Innovent as preferred theme holdings.

What this series covers

• Thoughts of the week
• WuXi Biologics: Strong execution, better visibility, and an improving mix
• Innovent Biologics: Scale-driven profitability supports next phase of global ambitions
• Charts of the week
• Risk Table
• 12 month CIO selection changes history
• Appendix
• Equity selection system
• Global asset class preferences definitions
• Current CIO GWM Americas global rating distribution
• Current UBS CIO global rating distribution (as of last month-end)
• Risk information

Edition archive

• Transformational Innovation Opportunities (TRIO) en 1665628

  September 2, 2026

• Transformational Innovation Opportunities (TRIO) en 1665408

  August 26, 2026

• Transformational Innovation Opportunities (TRIO) en 1663506

  July 23, 2026

• Transformational Innovation Opportunities (TRIO) en 1662173

  July 8, 2026

• Transformational Innovation Opportunities (TRIO) en 1661545

  June 17, 2026

• Transformational Innovation Opportunities (TRIO) en 1660644

  June 4, 2026