SHANGHAI, China, Jan. 31 /Xinhua-PRNewswire/ -- WuXi PharmaTech (NYSE: WX) today announced the completion of its acquisition of AppTec Laboratory Services, Inc., a US-based service provider for the biopharmaceutical and medical device industries. AppTec offers testing, contract research and development, and cGMP biologics manufacturing services from a highly differentiated, fully integrated platform.
The combined company brings together complementary service offerings and expertise to create a broad platform covering both chemistry and biologics, which allows WuXi PharmaTech to provide value-added services to our customers in the pharmaceutical, biotechnology and medical device industries.
"We are pleased to have completed this significant acquisition which immediately adds biologics capabilities and expertise to WuXi PharmaTech's existing capabilities, gains a significant U.S. operational footprint for WuXi PharmaTech and expands our U.S. customer base, with further opportunities to increase our market position," said Dr. Ge Li, Chairman and CEO of WuXi PharmaTech. "This acquisition further solidifies our leadership position as the premier and preferred drug R&D service partner for pharmaceutical, biotechnology and medical device companies."
"The management teams and dedicated employees of both companies are very enthusiastic about the prospects of the combined company," commented Mr. Edward Hu, COO of WuXi PharmaTech. "This is an acquisition of capabilities that we believe will drive our future growth by positioning WuXi as a high quality global drug R&D service collaborator with both small and large molecules expertise."
About WuXi PharmaTech
Founded in 2000, Shanghai-based WuXi PharmaTech is the leading
China-based pharmaceutical and biotechnology R&D outsourcing company. As a
research- driven and customer-focused company, WuXi PharmaTech provides
pharmaceutical and biotechnology companies a broad and integrated portfolio
of laboratory and research manufacturing services throughout the drug
discovery and development process. WuXi PharmaTech's services are designed
to assist its global partners in shortening the cycle and lowering the cost
of drug discovery and development by providing cost-effective and efficient
outsourcing solutions that save its customers both time and money. Its
operations are grouped into two segments: laboratory services, consisting
of discovery chemistry, service biology, analytical, pharmaceutical
development and process development services, and research manufacturing,
focusing on manufacturing of advanced intermediates and active
pharmaceutical ingredients for R&D use. In 2007, its 80 customers included
nine of the world's top ten pharmaceutical companies by revenue. For more
information, please visit: http://www.wuxipharmatech.com .
For more information, please contact:
Hai Mi, Ph.D.
Vice President, Corporate Communications
WuXi PharmaTech Co., Ltd.
|SOURCE WuXi PharmaTech|
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