(Yicai Global) Feb. 16 -- Shares in WuXi AppTec jumped by as much as 6.5 percent today after China’s largest pharmaceutical research and development firm reported a 72 percent leap in net profit last year from the year before, driven by strong growth in its chemistry segment.

WuXi AppTec’s share price [SHA:603259] closed up 4.16 percent at CNY97.73 (USD15), giving it a market capitalization of CNY289 billion (USD45.6 billion). Earlier in the day it had hit CNY100. Its Hong Kong shares [HKG:2359] closed up 2.85 percent at HKD104.60 (USD13).

The Shanghai-listed stock has gained 16 percent since the beginning of the week. This is in stark contrast to last week when the firm’s shares slumped 20 percent.

2021 profit came in at CNY5.1 billion (USD804.6 million), the company said in its latest earnings report released yesterday. Revenue jumped 38.5 percent to CNY22.9 billion (USD3.6 billion), driven by strong growth in its chemistry segment which saw sales surge 46.9 percent to CNY14.1 billion (USD2.2 billion).

The growth rate in its chemistry business is expected to double this year, the Wuxi, eastern Jiangsu province-based firm said. Other segments of testing and biology should also do well in 2022.

Income from small-molecule drugs research skyrocketed 43.2 percent, while that from technologies R&D and production jumped 49.9 percent, it added.

Editor: Kim Taylor