China-based CRO WuXi PharmaTech has entered into a syndicated loan facility to borrow up to $165m from a consortium of banks in Asia to seek out new acquisitions.
Chinese CRO Wuxi Pharmatech posted impressive revenue growth for Q2 driven by demand for lab services, but the firm still faced margin pressure due partly to rising labour costs.
China's second largest contract research organisation (CRO)
ShangPharma has attracted $30m (€21m) from US private
investment firm TPG as the Asian pharma market continues to simmer.