Covance and WuXi PharmaTech to Form a Joint Venture to Provide World-Class Preclinical Service...(ord of deliveringworld-class drug discov...)

"We are pleased to partner with Covance, one of the world's largest and most comprehensive drug development service companies," said Dr. Ge Li, Chairman and Chief Executive Officer of WuXi PharmaTech. "We will be able to immediately leverage Covance's world-class expertise and global network. This will allow us to accelerate bringing a full-range of preclinical services and GLP toxicology capabilities to this facility. The partnership is important to our mission of building a global R&D outsourcing service platform that will ultimately help our partners to improve the success of discovery and shorten the time of development."

China is becoming increasingly attractive for delivering high quality outsourced discovery and development services. Many multinational pharmaceutical, biotechnology and medical device companies have already established presence in China in order to access its rapidly expanding healthcare market; tap into its large patient population for global trials; and take advantage of its huge talent pool for outsourced R&D work. As a result, the preclinical service market in China is expected to grow rapidly in the coming years. The joint venture between WuXi PharmaTech and Covance will allow customers of both companies to fully leverage the advantages of conducting preclinical research and development in China, and potentially submit global and domestic regulatory applications.

About WuXi PharmaTech

WuXi PharmaTech is a leading pharmaceutical, biotechnology and medical device R&D outsourcing company, with operations in China and the United States. As a research-driven and customer-focused company, WuXi PharmaTech provides pharmaceutical, biotechnology and medical device companies a broad and integrated portfolio of laboratory and m
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