从“双引擎”到“第三极”，不变的是内生定力 | Bilingual

编者按：在耐心的土壤里，见证产业浪潮奔涌；在时间的长河里，以非凡的定力拥抱变化。

众所周知，在药明康德一体化CRDMO平台上，庞大的体量之中，蕴藏着很多内生的增长力量。不仅“小分子化学+TIDES（寡核苷酸/多肽）”双引擎一直动力强劲，在最新的药明康德一季度业绩中，更丰富的内生增长曲线正在加速显现，这“第三增长极”就是“生物学+测试”一体化研发服务。

2026年一季度，药明康德处于研发最前端生物学业务（涵盖靶点验证、体外药效、作用机制研究等），以及测试业务（涵盖药代动力学、毒理学、生物分析等实验室测试），双双再创新高。生物学业务板块实现了10.1%的双位数增长，单季度营收达到6.7亿元；测试业务实现了27.4%的增长，单季度营收达到11.3亿元。

为何生物学业务和测试业务能够有如此明显的增长？又反映了行业怎样的发展态势？药明康德高级副总裁，测试业务平台、生物学业务平台、自动化部负责人彭宣嘉博士分享了他的理解与思考。

窗外，是药明康德国际化标准的新药研发服务园区，映着春日上海的勃勃生机；窗内，一场关于科技驱动和生物医药产业未来的探讨，正以超出预期的深度和广度展开。

科技驱动，早期药物发现效率提升

全球新药研发的范式，总是在发生一次次深刻的改变，但变革与进化在医药健康产业再正常不过。彭宣嘉指出，核心驱动力是科技发展持续推动着行业创新壁垒的降低。

“过去，发现一个先导化合物，可能需要合成、筛选成千上万个分子，过程如同大海捞针。新型筛选技术层出不穷，将大大提高药物发现的初始效率。”他举了一个例子，“比如DNA编码化合物库（DEL）技术。在一个小小的EP管里，一次实验就能对百亿级的化合物进行筛选，将原先数月的筛选工作压缩到数周。”

然而，他话锋一转，强调这并不意味着传统的高通量筛选（HTS）会被取代。“行业里常有一种误区，认为新范式会彻底颠覆旧模式。但现实往往是叠加与融合。DEL技术擅长海量初筛，而HTS在后续的确证与优化中依然不可替代。关键是，我们能否根据客户项目的特点，提供最适配的技术解决方案。”

如今，虚拟筛选技术的出现，使得新药发现的场景从实验室切换到计算机。但无论是多么完美的虚拟分子，最终都必须走出比特世界，进入现实世界合成出来——它的活性、毒性、代谢性质、成药性，必须经过分子水平、细胞水平、动物模型，乃至临床试验的层层严苛检验。

虚拟世界极大提升了探索的广度和设计的成功率，催生了更多需要被验证的、被寄予厚望的候选分子。这直接导致对下游实体验证服务的需求“通量”呈指数级提升。

随着产业有望步入AI科技赋能的“超高效”创新时代，“第三增长极”理应拥有更大的想象空间。

“当源头创新的通量不断加大，未来会是可以预见的‘春江水暖’。”彭宣嘉博士透露。

新分子崛起，推动产业不断突破

谈起过去二十余年的行业变迁，他表示，“新药研发，是一个需要极度耐心的行业。一款新药从靶点到患者，动辄十年，数十亿美金的投入，其间充满未知与挑战，但这更是一个生命力极其蓬勃的行业。每当某个疾病领域或技术路径快要触及天花板时，总会有新的科学奇点爆发，重新点燃整个生态的热情，推动产业向前。”

彭宣嘉的职业生涯，伴着药明康德见证了近年来医药研发服务产业的崛起。他亲历了从小分子化学药独霸天下，到抗体药物崭露头角，再到如今新分子实体（NMEs）百花齐放的迭代周期。尤其是近年来，多肽、寡核苷酸、PROTAC、GLP-1等，如同一个个接续爆发的能量奇点，不断突破传统认知的壁垒，重塑全球研发的格局与想象力。

在药明康德最新公布的2026年一季度业绩中，新分子贡献了生物学业务（WuXi Biology）及测试业务（WuXi Testing）超过30%的营收，这一数字让新分子浪潮的力度具象化了。

对此，彭宣嘉博士这样理解，“这背后是全球成千上万的科学家和企业，对未被满足的治疗需求发起的持续攻坚。无论外部环境如何波澜起伏，创新力量始终在引导行业向上。而我们药明康德要做的，就是深刻理解合作伙伴的研发创新需求，并拥抱这个因创新而不断变化的世界。”

这正是彭宣嘉眼中，CXO价值在新时代的升华。当各类新分子、新科技层出不穷，行业非但不会“去CXO化”，反而在催生更复杂、更高难度的研发需求, “蛋糕”只会变得更大。

高难需求，催生行业加速分化

在监管日益严格、药企对研发质量与成功率追求极致的当下，CXO行业将会加速分化，订单呈现出明显的“马太效应”，快速向此类具备完整能力、国际最高合规标准、能够提供确定性结果的头部平台集中。

“这不是偶然，”彭宣嘉博士指向背后的产业逻辑，“分子发现正在变得更加高效，但生物学的复杂性并未因此减少。对分子作用机制的深入理解、对安全性的全面评估，变得比以往任何时候都更加重要和紧迫。”

当创意的门槛降低，将创意转化为现实的门槛反而在提高。谁能够帮助虚拟世界的分子高效转化为现实，在当下的产业环境中显得更加稀缺和重要。

而这恰恰是药明康德的长板，毕竟药明康德是“一体化、端到端”的CRDMO模式，覆盖研究（R）、开发（D）和生产（M）全链路，其核心优势在于“一体化”带来的无缝衔接。

生物学业务常年作为 “流量入口”，持续为药明康德带来20%的新增客户。一个在生物学平台被验证有效的分子，可以高效地进入测试平台进行安全评价，其产生的所有数据又为后续的商业化开发铺平道路。

“我们看到的不仅是单个业务线的增长，更是‘生物学-测试’与化学业务间产生的强大协同效应，为后期持续带来机遇。”彭宣嘉博士补充道。

对于寻求更大确定性的跨国药企和Biotech而言，药明康德无论从能力纵深还是未来延展性上都是一个非常好的选择。

时间的复利，铸就最深的护城河

在技术日新月异、风口轮流变换的医药行业，药明康德何以能一次次精准地承接产业浪潮，并转化为持续增长的动力？彭宣嘉博士将答案归于四个字：时间复利。

“客户今日的信任，绝非一蹴而就。那是公司25年来，沿着‘做对的事、把事做好’这条看似朴素、实则极具韧性的道路，一步步积累出的厚重资产。”

这复利的本质，是深度理解与灵活响应。25年的历程，让药明康德穿越了多个行业周期，服务了从全球顶尖跨国制药巨头到初创生物科技公司的几乎全谱系客户。“我们深刻理解，跨国药企的需求与Biotech的需求，在底层逻辑上相通，但在具体形态上迥异。”彭宣嘉博士分析道。

跨国药企追求的是规模化、系统化的卓越与绝对的确定性，管线庞大，项目流程复杂，更看重合规质量、全球同步、稳定交付。药明康德用25年搭建的、横跨全球监管机构的完整基础设施网络，以及与之匹配的、经过千万次验证的国际质量体系，能充分满足这种高标准的需求。

Biotech公司，特别是那些由顶尖科学家创立、怀抱突破性技术的初创企业，需要合作伙伴更加全方位的赋能，成为其核心团队的能力延伸，在充满不确定性的研发道路上快速推进项目进程，更看重敏捷和高效。药明康德一体化平台的价值在此凸显，以全链条资源，以“模块化、可扩展”的服务，支撑从“一张纸”的创意走向临床概念的验证，并推进至后期乃至商业化。“我们像是他们的外部研发部门，能快速响应，陪伴他们度过最充满挑战也最决定命运的研发阶段。”彭宣嘉博士说。

这种同时服务“高标准”与“高灵敏”的能力，并非简单的业务叠加，而是源于二十余载深耕中锤炼出的体系弹性与组织智慧。平台既拥有满足FDA、EMA等国际标准的刚性质量框架，又培育了追求极致的服务理念，才能成为不同背景、不同阶段创新者坚定的选择。

“信任的建立，始于一次成功的交付，但巩固于无数次关键时刻的‘值得托付’。”彭宣嘉博士指出。这份用时间、专业与无数成功案例积累的信任资产，构成了药明康德应对一切技术变迁与市场起伏时，最深沉、最稳固的能力底盘。

变化的时代与最好的未来

访谈临近尾声，窗外的阳光正盛。彭宣嘉博士的从理性的剖析，自然而然地转向了更辽阔的展望。

“这个世界唯一不变的，就是变化本身，但作为赋能者，我们也要努力在变化中保持内核的稳定。”彭宣嘉站在窗前，园区内研发楼宇鳞次栉比，承载着来自全球客户无数未竟的探索。“我们要做的，就是以二十五年来锤炼的确定性的‘不变’——对质量的执着、对科学的敬畏、对客户的承诺——去拥抱这个世界的无限可能。”

变化的时代，属于那些敢于创新的探索者，也属于那些默默夯实基础、为创新保驾护航的赋能者。他坚信，药明康德所选择的赋能者之路，在新时代里将越走越宽。

“让天下没有难做的药，难治的病” —— 这不仅是药明康德悬挂在墙上的愿景，更是贯穿其二十多年发展历程的精神内核。

如今，随着科技日新月异，这幅蓝图，正从理想照进现实。

“我们正无限接近这个梦想。”彭宣嘉博士最后说道。

How WuXi AppTec’s Integrated Biology and Testing Services Help Accelerate Drug R&D

The closer discovery, testing, development, and manufacturing are linked, the faster scientific ideas can be translated into medicines for patients. For over 25 years, WuXi AppTec’s end-to-end integrated CRDMO model has been not only a defining feature of the company’s strategy, but also a foundation for durable growth.

The company’s 2026 Q1 results offer a snapshot of how that model continues to evolve. WuXi Biology and WuXi Testing both delivered steady growth, reflecting rising demand for the scientific capabilities that bridge early discovery and downstream development.

To better understand what is driving that momentum, Dr. Xuanjia Peng, Senior Vice President of WuXi AppTec and head of WuXi Testing and WuXi Biology, shared his perspective on how technical complexity and broader industry shifts are redefining drug research, and how WuXi AppTec's integrated biology and testing platforms are evolving to help accelerate R&D.

Technology Is Redefining Early Drug Discovery

Drug discovery has always evolved alongside advances in science and technology, but today, the pace of change is accelerating. According to Dr. Peng, one fundamental dynamic remains constant: technological innovation continues to lower barriers to drug discovery.

New technologies are drastically reducing the barriers to early discovery, enabling scientists to identify promising compounds with greater speed and scale. Dr. Xuanjia Peng points to DNA-Encoded Library (DEL) technology as one example: what once required synthesizing and screening thousands of molecules can now involve billions of compounds screened in a single experiment, compressing months of work into weeks.

“Scientific progress is often cumulative,” Dr. Peng said. “The question is not whether one technology replaces another, but whether you can apply the right technology to the right problem.”

DEL has transformed large-scale primary screening, while traditional high-throughput screening remains essential for downstream confirmation and optimization. Virtual screening has pushed more discovery into the computational realm—but digital promise still demands real-world validation. Molecules must be synthesized, tested and rigorously evaluated for biological activity, safety, metabolism, and developability before they can move forward.

That is shifting value downstream. As front-end discovery becomes more productive, demand is rising for the scientific capabilities that validate, de-risk, and translate promising molecules into viable development candidates. Against this backdrop, WuXi AppTec’s continued growth in biology and testing suggests a meaningful runway ahead.

New Modalities, New Demands

Drug research, in Dr. Xuanjia Peng’s view, remains one of the most demanding and constantly evolving areas in science. Bringing a medicine from discovery to market can take more than a decade and require billions in investment, he noted, in a process defined by uncertainty and complexity, but also continuous technological renewal.

As one therapeutic frontier matures, new modalities tend to emerge, resetting the boundaries of what is possible. That shift has accelerated in recent years, from peptides and oligonucleotides to PROTACs, each reshaping global R&D priorities.

The impact is already visible at WuXi AppTec. In first-quarter 2026 results, new modality-related work accounted for more than 30% of revenue across WuXi Biology and WuXi Testing.

For Dr. Peng, the figure reflects broader industry momentum. “Innovation remains the central force driving this field,” he said. “Our role is to deeply understand our partners’ scientific and development needs—and continue evolving alongside a world being constantly reshaped by innovation.”

Higher Technical Complexity Is Accelerating Industry Differentiation

For Dr. Peng, one paradox defines modern drug R&D: discovery is becoming more efficient, while development is becoming more demanding.

“Biology remains extraordinarily complex,” he said. “A deeper understanding of mechanism, translational relevance, and safety is becoming more important—not less.”

That dynamic is accelerating differentiation across the CRO and CDMO sector. As regulatory expectations rise and scientific questions grow more complex, biopharma companies are increasingly gravitating toward partners that combine technical breadth, operational rigor, and reliable execution.

In that environment, integrated platforms matter more than ever.

WuXi AppTec’s end-to-end CRDMO model is designed to connect research, development, and manufacturing into a continuous value chain—reducing friction between stages and improving development certainty. Biology often serves as an early gateway, with validated molecules advancing efficiently into preclinical testing and beyond.

“What matters is not individual capabilities in isolation,” Dr. Peng said. “It is how biology, testing, and chemistry work together—and the long-term value that creates.”

Trust, Built Over Time

If integration creates operational advantage, trust creates durability.

Dr. Peng attributes WuXi AppTec’s long-term competitive position not to any single capability, but to decades of accumulated execution—what he describes simply as “doing the right thing, and doing it right.”

That discipline has allowed the company to build relationships across the full spectrum of innovators, from global pharmaceutical companies seeking scale, compliance, and execution certainty, to emerging biotech firms that prioritize speed, flexibility, and scientific partnership.

Their needs may differ. Their goal does not: turning promising science into medicines. For larger companies, WuXi AppTec offers global infrastructure, internationally aligned quality systems, and dependable delivery at scale. For biotech innovators, it can act more like an extension of the R&D team—providing modular, end-to-end support from concept to clinical proof.

The platform combines a robust quality framework designed to meet the high standards of global regulators—including the U.S. Food and Drug Administration and the European Medicines Agency—with a deeply embedded service culture focused on scientific excellence and customer success. Together, these elements have made WuXi AppTec a trusted partner for innovators across geographies, business models, and stages of growth.

“In critical moments, customers need to know they can rely on you,” Dr. Peng said. “That trust is built over time—and reinforced through delivery.”

Staying Constant in a Changing Industry

“The only true constant is change,” Dr. Peng said. “For those enabling innovation, the challenge is to remain steady at the core while continuously adapting to what is changing around us.”

What matters, Dr. Peng argues, is maintaining clarity about what should not change: scientific rigor, uncompromising quality, and a deep commitment to customers.

In healthcare innovation, breakthroughs may capture headlines. But bringing those breakthroughs to patients depends just as much on the less visible work of validation, development, and execution—the systems that translate scientific possibility into medical reality. That is where WuXi AppTec sees its role: not simply following innovation, but helping make it possible.

“Every drug can be made, and every disease can be treated,” he said. “It is the vision that has guided our development over the past 25 years.” And as science advances at unprecedented speed, that vision is increasingly within reach. “We are getting closer to that goal every day,” Dr. Peng said.

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