Ge Long Hui·2025-09-29 05:23Core Viewpoint - Morgan Stanley's research report indicates that the recent announcement by U.S. President Trump to impose a 100% tariff on imported branded and patented drugs starting October 1 will not directly impact Chinese CDMO companies like WuXi AppTec, as clients typically bear the tariff costs [1] Group 1: Company Analysis - WuXi AppTec is recognized as the largest contract research and manufacturing organization in China, with strong business fundamentals [1] - The company is expanding its production capacity in the U.S. to meet client demands for localized manufacturing [1] - Morgan Stanley maintains an "Overweight" rating on WuXi AppTec, with a target price of HKD 138 [1] Group 2: Industry Insights - The competition in the small molecule CRDMO sector is relatively mild, which bodes well for WuXi AppTec's growth prospects [1] - The growth momentum for WuXi TIDES business remains strong, indicating a positive outlook for the company's future performance [1]