WuXi Clinical is expanding therapeutically - investing ‘heavily’ in oncology, CNS, GI - and plans to continue growing geographically as well, with a mission to bridge the gap between China and the rest of the world.
With WuXi pushing full steam ahead in its bid to go private, one expert says that the company may be envious of a competing CRO -- Hangzhou Tigermed, which is smaller than WuXi but valued at a higher price on the Shenzhen stock exchange.
WuXi PharmaTech subsidiary WuXi Biologics has begun construction on a new $150m biologics manufacturing facility in Wuxi, China, which is expected to be the largest mammalian cell culture manufacturing sire using disposable bioreactors in the world.
Competition in the notoriously tight-lipped CRO (contract research organization) and CMO (contract manufacturing organization) industries is getting fiercer as outsourcing picks up, though that hasn’t stopped one Chinese company from revealing who it...
Chinese service provider WuXi PharmaTech has sold a 5.55% stake in its wholly owned CMO (contract manufacturing organization) subsidiary SynTheAll Pharmaceutical (STA) to members of STA’s and WuXi’s management for $28m.
China-based WuXi PharmaTech has acquired CRO XenoBiotic Laboratories (XBL) to bolster its bioanalytical and DMPK (Drug Metabolism and Pharmacokinetics)/ADME (absorption, distribution, metabolism, and excretion) services. Financial terms were not disclosed....
With almost 20% year-over-year growth in its manufacturing services, Chinese CRO and CMO WuXi now expects its small molecule manufacturing and biologics to be the key drivers of growth for the next several years, Ge Li, chairman and CEO of WuXi, said.
WuXi PharmaTech posted an operating profit of $52m (€38m) in 2009 and is optimistic about 2010, when it will make investments in laboratory services and large-scale manufacturing to drive growth in coming years.
WuXi PharmaTech’s operating income increased by 35 per cent in the third quarter, underpinned by strong growth in China-based laboratory services, but its manufacturing operations continue to struggle.
China’s WuXi PharmaTech has reported a below par set of unaudited third quarter results and has cut its full-year expectations blaming the current economic climate’s impact on R&D spending within the sector.
China's Wuxi PharmaTech saw revenues race away across its divisions
in the first quarter of 2008, benefitting from the continued shift
towards outsourcing of manufacturing and laboratory functions by
the pharmaceutical industry.