NEWSpublisher 2007 :: AngloChinese Investments
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» 23/07/2009 [Company watch]
China Aoxing Pharmaceutical Corp. Receives Renewal of GMP Certification for Capsule Dosage Form of Pharmaceutical Products
» 15/03/2010 [Industry news]
Recordati S.p.A And Lee Pharmaceutical Announce Partnership For Zanidip(R) In China
» 26/10/2009 [Finance]
China Growth to Remain Fast in Fourth Quarter, Official Says
» 17/08/2009 [Industry news]
Chindex Posts Profit on Product Sales, Health Services
» 07/05/2010 [Industry news]
Hong Kong: Recall of all products manufactured by Quality Pharmaceutical Lab Ltd
COMPANY NEWS » Contract Research Orgs  «  1  2  3  4  5  » 
found files: 151
Wuxi Pharma Tech »10/07/2008 [Company watch]
WuXi PharmaTech appoints Debra Yu as VP of Strategy

WuXi PharmaTech announced July 10 that it has appointed Debra Yu as the Vice President of Strategy, where she will oversee the company's strategic planning and initiatives. Prior to joining WuXi, Yu helped to lead the venture capital group at Pfizer....   more»

VENTURE PHARM SERVICE--VPScro »13/07/2008 [Company watch]
Commonwealth Biotech Invests in Venturepharm JV

Commonwealth Biotechnologies (CBTE) and Venturepharm Laboratories tightened up their relationship as Commonwealth exercised a $1 million put option with Venturepharm. Under the terms of the deal, Commonwealth sold 463,426 shares of common stock to Venturepharm at $2.15 per share, a 56% premium to the June 30, 2008 share price of $1.38. CBI received $500,000 in cash and 2.22 million shares of Venturepharm Holdings [HKEX: 8225], the parent of Venturepharm Labs. The shares are also worth $500,000. Commonwealth said it would use the proceeds in Venturepharm Asia, the joint venture formed between the two companies. The JV recently procured two preclinical chemistry facilities in China that Commonwealth will use to house and expand the operations of Exelgen and Mimotopes, its small molecule and peptide subsidiaries. Operations will begin in the new facilities in Q3. Dr. Paul D'Sylva, CEO of Commonweath, said the new facilities will provide cost and capacity advantages and that they will also offer potential for growth. The rationale behind the JV was that Commonwealth would contribute its expertise with early stage drug discovery technologies, business development, marketing and quality assurance services. Venturepharm would provide contract manufacturing and clinical trial services. Commonwealth operates through five business units: (1) CBI Services, a discovery-phase contract research organization; (2) Fairfax Identity Laboratories, a DNA reference business; (3) Mimotopes Pty Ltd, Melbourne, Australia, a peptide and discovery chemistry business; (4) Exelgen Ltd, Bude, UK, a medicinal and synthetic discovery chemistry business; and (5) Venturepharm Asia, Beijing, China, a contract research joint venture specializing in process scale-up, formulation development, cGMP manufacturing and clinical trial management. The parent of Venturepharm Labs, Venturepharm Holdings Limited, specializes in API formulation development, clinical trial management, product registration, and marketing & sales to pharmaceutical and biotech companies in China and overseas....   more»

Wuxi Pharma Tech »05/08/2008 [Company watch]
WuXi appoints Mr Steven M. Hutchins as VP of Business Development

WuXi PharmaTech, a leading pharmaceutical, biotechnology and medical device research and development outsourcing company with operations in China and the United States, has appointed Mr. Steven M. Hutchins as Vice President of Business Development. Prior to joining WuXi PharmaTech, Mr. Hutchins was Vice President of Business Development & Collaboration Management at BioDuro, a U.S.-based life science outsourcing service company, and earlier Senior Director of Global Basic and PreClinical Sourcing at Merck. Mr. Hutchins will be responsible for leading the company's global business development and reinforcing WuXi's brand value and market leadership. Mr. Hutchins will report directly to Dr. Ge Li, Chairman and CEO of WuXi PharmaTech. Mr. Hutchins received his B.S. in Chemistry from University of New Hampshire, New Hampshire....   more»

Hutchison China MediTech Limited(“Chi-Med”) »06/08/2008 [Company watch]
China Med first-half loss widens to $6.4 mln

(Reuters) Hutchison China MediTech Ltd's six-month group loss for the period ended June widened to $6.4 million, the traditional Chinese medicine-sourced pharmaceuticals maker reported on Tuesday. Sales grew 37 percent to $46 million, driven mainly by strong like-for-like growth in its China healthcare unit, while losses in its drug research unit rose 112 percent to $8.0 million, the company said. Group losses to shareholders widened to $6.4 million in the first half from $5.6 million a year ago, the statement shows. "Chi-Med has delivered a very strong first-half performance, outperforming our expectations in all divisions," CEO Christian Hogg said in the statement. "Our China healthcare division has grown like-for-like sales well ahead of the circa 20 percent annual growth of China's pharmaceutical industry. "It is now strongly profitable and cash generative and has increased its margin as it leverages its growing scale and powerful brands."...   more»

Wuxi Pharma Tech »14/08/2008 [Company watch]
WuXi PharmaTech Earnings Seem Stellar

WuXi PharmaTech (WX) earnings seem quite stellar on first glance - I am assuming the analysts' expectations are non GAAP since we live in a non GAAP world (which is a whole issue onto itself) but I digress. $0.14 EPS was consensus, with a range of 8 analysts of $0.08 to $0.19 - I only point that out because this is a young company with a short track record and a bevy of analysts who are having trouble coming to a consensus. They appear to have done a $0.21 quarter... and the market yawns if last night's after hours action signifies anything. If this were an American contract research organization posting a beat of that significance (50% over consensus) I assume it would be up 15-20%. Oh well, the beat goes on. Or is it (our) beating goes on? We even have the right sector (health care) on this one, but apparently the wrong country. • Net revenues for the second quarter 2008 were $70.8 million, representing a year-over-year increase of 134% from $30.2 million in the second quarter 2007. • Net revenues from laboratory services increased 80% to $45.2 million in the second quarter 2008 from $25.1 million in the second quarter 2007. Net revenues from manufacturing services increased 400% to $25.6 million in the second quarter 2008 from $5.1 million in the second quarter 2007. • Our overall non-GAAP gross margin was 40%, laboratory service non-GAAP gross margin was 50% and manufacturing non-GAAP gross margin was 24%. GAAP gross profit for the second quarter 2008 was $22.1 million and overall GAAP gross margin was 31%, laboratory service GAAP gross margin was 39% and manufacturing GAAP gross margin was 17%. (don't often see gross margin expressed as GAAP v non GAAP) • Non-GAAP operating income was $17.0 million in the second quarter 2008, a 90% increase from $8.9 million in the second quarter 2007. Non-GAAP operating margin was 24% in the second quarter 2008, down from 30% in the second quarter 2007. GAAP operating income for the second quarter 2008 was $7.7 million. GAAP operating margin was 11% in the second quarter 2008, down from 25% in the second quarter 2007 primarily due to amortization of acquired intangible assets. (this is a negative divergence but they hired a lot of "seasoned executives" which probably causes some of the increase in expenses, and hence reduction in operating margin) • Non-GAAP net income for the second quarter 2008 grew 81% to $15.5 million, compared to the non-GAAP net income of $8.6 million in the second quarter 2007. Non-GAAP net profit margin was 22% in the second quarter 2008. • GAAP net income for the second quarter 2008 increased 19% to $8.5 million from $7.1 million for the second quarter 2007. GAAP net profit margin was 12% in the second quarter 2008. • Non-GAAP diluted earnings per ADS were $0.21 compared to $0.13 in the second quarter 2007. GAAP diluted earnings per ADS were $0.12 in the second quarter 2008 compared to $0.11 in the second quarter 2007. Guidance • We maintain our 2008 annual consolidated net revenues guidance in the range from $280 million to $300 million All the non GAAP vs GAAP figures are making for a messy earnings report but generally the "wink wink" methodology on Wall Street is to use non GAAP because huge amounts of executive compensation can thus not "count" against profits. Another in the many games we play. Even with the reduction in operating income percentage, WX is showing a 24% which compared to the 12-15% range of American peers. Some of the margin pressure looks to be "growing pains" but in the long run, with a much lower labor cost (one reason we bought it) they should maintain superior to peer margins even with the quarterly ebbs and flows. Well, we've held it this long - I don't see any reason to sell it here - I guess it can trade in obscurity for an unknown amount of time going forward. We're just racking up profitable Chinese companies growing 100%+ who cannot find a bid......   more»

Wuxi Pharma Tech »25/08/2008 [Company watch]
WuXi promotes Dr Rujian Ma to VP of Synthetic Chemistry

Wuxi Pharmatech announced that it has promoted Dr. Rujian Ma to Vice President of Synthetic Chemistry....   more»

VENTURE PHARM SERVICE--VPScro »26/08/2008 [Company watch]
Acesys Pharmatech Joins to Power Exelgen’s Drug Discovery in China

Venturepharm is delighted to announce that Acesys Pharmatech now becomes part of Venturepharm group to form the Chemical Drug Discovery (CMC) Division of Venturepharm Asia and provide help to Exelgen's operation in China. Acesys Pharmatech is a Nanjing based global drug discovery service company with around 70 chemists....   more»

VENTURE PHARM SERVICE--VPScro »26/08/2008 [Company watch]
Venturepharm Group and the State Genetic Engineering Drug Research Center reached strategic cooperation

Recently, Venturepharm group and the State Genetic Engineering Drug Research Center have reached an all-around strategic cooperation. The research center is the only state engineering research center at the state level officially approved by the National Development and Reform Commission. The two sides will take this opportunity to leverage the advantages of both sides to promote the R & D of genetic engineering drugs and provide more competitive service and products. It further strengthens the R & D capability of Venturepharm group....   more»

VENTURE PHARM SERVICE--VPScro »26/08/2008 [Company watch]
Venturepharm and Lorus Therapeutics forms alliance

Venturepharm group announced today that a new global Oncology platform will be created between Venturepharm and Lorus Therapeutics (LOR, LRP), a Canadian biotech with a strong Oncology pipeline of over 7 molecules in various stages of development. The platform will build a most sustainable & innovative Oncology business model and greatly reduce cost and produce a new generation of cancer treatment drug through leveraging on both parties’ Oncology expertise in preclinical research, clinical trials, etc. The service platform is expected to bring Venturepharm one step further to be the No.1 service provider for world oncology drug development with US/European Standard/Quality, but China local cost....   more»

VENTURE PHARM SERVICE--VPScro »26/08/2008 [Company watch]
Venturepharm still stands No.1 in New Drug Application in the first half year

According to the statistics from China SFDA, Venturepharm remains No.1 in New Drug Application in the first half year. The Group has initiated 10 new projects in the first half year of 2008 and till now has 238 products under development. The Group has totally submitted 226 patent applications. During the period, SFDA has granted 7 new Clinical Study Permits (“CSP”) and 16 new Manufacturing Permits (“MP”) to the Group. The total number of CSPs has reached 300 and the total number of MPs has climbed up to 119....   more»

Bridge (Vital Bridge) »04/09/2008 [Company watch]
Bridge Laboratories' China Study Data Accepted by the FDA

Bridge Laboratories announced today that the FDA has accepted data submitted from its Beijing facility on behalf of a US biotech client. The Good Laboratory Practices (GLP) nonhuman primate toxicology study data was generated and submitted last month as part of an IND package to the FDA. Bridge’s Beijing facility was purpose built to conduct GLP studies in support of worldwide regulatory submission – this goal has now been fully realized. “The FDA’s acceptance of this data validates the wisdom of conducting preclinical research in China for clients looking to complete studies economically,” said Tom Oakley, President and CEO, Bridge Laboratories. “We are pleased about what this says about the quality of our work in China – that it clearly meets Western standards – and what it means to companies seeking cost-effective GLP IND-enabling work,” Oakley continued. Foreseeing the opportunity for China-based GLP-compliant preclinical services several years ago, Bridge Laboratories began planning a preclinical services laboratory located in Beijing’s Zhongguancun Life Science Park. This state-of-the-art laboratory, the first in China built from the ground up to meet international GLP-compliant standards, opened in 2006. Bridge recently announced that they are in the process of developing a second facility which is expected to be completed in late fourth quarter 2009. The new facility will be adjacent to the existing one in Beijing, will quadruple the available laboratory space, and will allow Bridge to continue to expand their service offerings for clients worldwide. About Bridge Laboratories Bridge Laboratories is a US-owned, preclinical contract research organization (CRO) that provides US-level regulatory compliant drug development services globally. Bridge is headquartered in Gaithersburg, Maryland, with AAALAC accredited lab facilities in the US and Beijing, China. Bridge is known for its extensive work in toxicology; including vaccines, developmental and reproductive toxicology, and safety pharmacology. Bridge’s facility in China was among the first labs to perform GLP studies for clients worldwide. Bridge’s existing facility in Beijing is the first Asian preclinical CRO with western-level attention to detail and includes one of the largest and most sophisticated animal vivariums in China. This facility was designed from the ground up to be both AAALAC multi-species accredited and US-level GLP compliant....   more»

Covance »29/09/2008 [Company watch]
Covance Inc. announced today that it will no longer pursue a 50-50 joint venture with WuXi Pharmatech

Covance Inc. announced today that it will no longer pursue a 50-50 joint venture with WuXi Pharmatech to provide preclinical contract research services in China. "We expect China will become an attractive region for outsourced drug development services over the longer-term. To seize this opportunity, we will pursue our original strategy to build our own world-class preclinical facility in the region and aggressively compete as the global market leader in a business we know very well. We plan to build a comprehensive preclinical capability that matches the high-quality facilities and scientific teams our clients have grown to trust in Europe and North America," said Joe Herring, Covance chairman and chief executive officer. "Once built, the preclinical facility will complement our existing Phase II/III clinical development, central laboratory and our new bioanalytical capability in China and allow us to enjoy the full financial benefits of further leveraging Covance's high- quality brand and drug development experience into Asia."...   more»

Wuxi Pharma Tech »29/09/2008 [Company watch]
WuXi PharmaTech (NYSE:WX) Maintains Original Strategy to Provide Toxicology Services in China

WuXi PharmaTech , a leading pharmaceutical, biotechnology and medical device research and development outsourcing company with operations in China and the United States, announced today that it will no longer pursue a 50-50 joint venture with Covance Inc. WuXi will maintain its original plan to construct, own and operate a 323,450 square foot GLP facility in Suzhou, China which is slated to open in the second half of 2009. WuXi plans to offer a full-range of preclinical services and GLP toxicology capabilities at this facility, helping WuXi clients to improve the success of discovery and shorten the time of development. "We are committed to offering world-class preclinical toxicology services in China to global customers and committed to delivering this in the way which most benefits our customers and shareholders in longer term," said Dr. Ge Li, WuXi Chairman and Chief Executive Officer. "This facility is being built through our already budgeted capital expenditures and we will not require additional funding. We can leverage the expertise and capability from our AppTec acquisition as well as our US toxicology team to move rapidly in getting GLP compliance. Proceeding with our original plans to operate this facility independently will allow WuXi and our shareholders to receive maximum benefit over the long term."...   more»

Wuxi Pharma Tech »02/10/2008 [Company watch]
Wuxi Pharma Drops on News of Deal Dissolution with Covance

WuXi PharmaTech (WX) and Covance (CVD) have decided not to continue their previously announced joint ownership of a preclinical laboratory, currently under construction. WuXi will now own 100% of the 323,450 square feet Suzhou facility, which was the company’s original intention. After announcing its plans to build the Suzhou facility one year ago, WuXi announced in June that it would form a 50-50 joint partnership with Covance to own and operate the facility. Now, it’s back to Plan A, which, emphasizing the positive, WuXi says will give shareholders “the full benefit” of the facility. No explanation was given for the change of plans. Covance was supposed to invest $30 million into the JV. The facility, which is expected to open in the second half of 2009, will offer a complete range of GLP toxicology, drug metabolism and bioanalytical chemistry services. These emphasize somewhat later-stage capabilities than the services available from WuXi’s Shanghai facility. The news of the partnership’s dissolution has sent the price of WuXi’s shares to a new all-time low. Following the announcement, WuXi was trading Monday for $12.87, a loss of $2.81 in the early part of the session. Less than one year ago, the price of WuXi’s shares was $45.65. Quarter after quarter, the company continues to report solid and growing financial results, though WuXi is no longer predicting 100% gains in revenue and profit into the indefinite future, as it was when the company made its IPO in 2007. With the benefit of the AppTec acquisition, WuXi’s revenues will double this year, though net income is expected to grow by only 50%. For 2009, revenues and net income are both expected to increase by approximately 35%. On a trailing 12 month basis, WuXi has a Price/Earnings ratio of 24, though its forward P/E, based on 2009 expectations, drops to 16....   more»

Tianjin Institute Of Pharmaceutical Research—Ne »01/10/2008 [Company watch]
Tianjin Pharma to trade on American Stock Exchange

TianyinPharmaceutical, Co., Inc., (OTC Bulletin Board: TYNP - News), a manufacturerand supplier of modernized traditional Chinese medicine ("TCM") based inChengdu, China, today announced that its common stock will begin trading onthe American Stock Exchange (the "AMEX") under the ticker "TPI" at market openon Wednesday, October 1, 2008. "Moving to the AMEX is a landmark for our Company. We expect that tradingon the AMEX will elevate our Company's standing within the internationalbusiness community, as well as our visibility among the investment community,"Dr. Jiang, Chairman and CEO of Tianyin commented. "I would like to thank bothTripoint Capital Advisors, the financial advisor for Tianyin Pharmaceuticals,and CMARK Capital, Tripoint's partner in China, for being instrumental withthe transition and activities since our Company became public." The AMEX Panel's approval is contingent upon the Company being in directcompliance with the Alternative Listing Standards at the time the Company'scommon shares begin trading on the AMEX, and may be rescinded if the Companyis not in compliance with such standards. Once Tianyin's common sharescommence trading on the AMEX, the Company will enjoy all of the sameprivileges and be subject to all of the same regulations as any other companywhose shares are listed on the AMEX, regardless of the Listing Standard usedto determine the Company's eligibility. Profile: Opening the gateway to China...   more»

Charles River »15/10/2008 [Company watch]
Charles River Expands Global Footprint with Shanghai Facility Opening

New Facility Positions Company as Premier Preclinical CRO in China To support the growing demand from multinational pharmaceutical clients for outsourced drug development services, Charles River Laboratories International, Inc. (CRL) today announced the opening of its 60,000 square foot preclinical facility in Shanghai. The new China facility positions Charles River as the strategic partner of choice to fully support clients’ global drug development needs. “As our clients make their initial forays into China, we are creating a center of excellence that embodies global best practices alongside them,” said James C. Foster, President, Chairman and Chief Executive Officer of Charles River. “Our clients have come to appreciate and rely on the expertise Charles River brings to their drug development efforts, and the convenience of our facilities in close proximity. The same high standards of research, safety, humane care and good laboratory practices that globally distinguish Charles River are replicated in our Shanghai facility. Expanding into this arena is a marathon ― not a sprint ― and this facility marks the first step in our journey.” Creating a Center of Excellence in China Due to its large population and increasingly educated workforce, China is an emerging market for global drug development. As China continues to evolve as a center of innovation in research and development, the new facility will help foster this culture by helping multinationals as well as local biopharmaceutical organizations accelerate their drug development programs. The new facility is expected to provide Good Laboratory Practice (GLP) services in the first quarter of 2009. In addition, Charles River’s China facility will provide a wide range of services that are compliant with leading regulatory agencies including: * Association for Assessment and Accreditation of Laboratory Animal Care (AAALAC), * Canadian Council on Animal Care (CCAC), * China’s State Food and Drug Administration (SFDA), * Organization for Economic Cooperation and Development (OECD); and * U.S. Food and Drug Administration (FDA). “The rapidly growing economy and native science talent position China as an emerging powerhouse in the life sciences industry. Charles River is making a key strategic investment in local resources and staff to support the drug development programs of both multinational and native biopharmaceutical organizations in China,” said Kewen Jin, General Manager, Charles River Shanghai. An international group gathered to celebrate the opening of the facility including: academic leaders, senior government officials from China, and executives from multinational pharmaceutical companies and local biopharmaceutical organizations. The ceremony commenced with remarks from Charles River executives sharing ideas, plans and insights on the critical role China plays in drug development. Selecting a Strategic Partner In March 2007, Charles River announced a joint venture with Shanghai BioExplorer Co., Ltd., a Shanghai, China-based provider of preclinical services, to form Charles River Preclinical Services Greater China. The joint venture is majority owned and controlled by Charles River. Additional details of the joint venture are outlined in the press release “Charles River Expands Global Reach.”http://CharlesRiverChinaMarch2007...   more»

Wuxi Pharma Tech »14/10/2008 [Company watch]
WuXi PharmaTech Announces Preliminary Third Quarter 2008 Results and Updates 2008 Guidance

WuXi PharmaTech (Cayman) Inc. (WX), a leading pharmaceutical, biotechnology and medical device research and development outsourcing company with operations in China and the United States, today announced preliminary selected unaudited financial results for the third quarter ended September 30, 2008, and updated its guidance for the full year 2008. Third Quarter 2008 Preliminary Unaudited Financial Results For the third quarter ended September 30, 2008, WuXi reports the following preliminary unaudited financial results. These results are subject to change as a result of finalization of share-based compensation expenses, closing adjustments and completion of the review process for the quarter. Preliminary Third Quarter 2008 Financial Results (Unaudited, U.S. Dollars in Millions) GAAP Non-GAAP The third quarter of The third quarter of 2008 2007 % 2008 2007 % Growth* Growth* Net Revenue $66.0 - 67.5 $34.0 96% $66.0 - 67.5 $34.0 96% Laboratory Services 46.0 - 47.0 26.7 74% 46.0 - 47.0 26.7 74% Manufacturing Services 20.0 - 20.5 7.3 177% 20.0 - 20.5 7.3 177% Gross Profit 21.4 - 22.9 16.0 38% 25.9 - 27.4 16.3 63% Laboratory Services 18.7 - 19.7 12.9 49% 22.0 - 23.0 13.2 70% Manufacturing Services 2.7 - 3.2 3.1 (5%) 3.9 - 4.4 3.1 34% Operating Income 6.7 - 8.2 7.5 (1%) 13.7 - 15.2 9.0 61% EBITDA 13.9 - 15.4 10.2 44% 17.0 - 18.5 11.7 52% * Growth rate calculated based on mid-point range Financial data presented on a non-GAAP basis exclude share-based compensation expenses and amortization of acquired intangible assets. The non-GAAP measures are reconciled to the corresponding GAAP measures in the section below titled "Use of Non-GAAP Financial Measures". Commenting on the third quarter 2008 preliminary results, Dr. Ge Li, Chairman and Chief Executive Officer of WuXi PharmaTech, said, "WuXi continues its historical trend of delivering strong revenue and profitability growth, as reflected in the 96% top-line revenue and 52% non-GAAP EBITDA growth (each using the mid-point of current estimates). As we enter the fourth quarter, we expect lower than anticipated full-year 2008 revenues, due to cancelled or delayed projects from small biotechnology customers. However, our China-based laboratory services business remains strong and is expected to grow over 40%, year-over-year. "Even with the financial market unrest, we believe the need for outsourced services remains robust. WuXi has an outstanding reputation for providing high-quality, IP-protected services in a cost-effective and efficient manner. In all environments, we are positioned to meet and anticipate our customer needs, by expanding and evolving our services, while maintaining our focus on revenue growth and profitability." Expected third quarter 2008 operating income reflects expected sales, general and administrative expenses (excluding share-based compensation) generally consistent with the second quarter of 2008. On November 12, 2008, WuXi expects to announce finalized operating results (including net income and earnings per ADS) for the third quarter 2008. In the interim, WuXi is evaluating and/or finalizing the following items, which impact net income and earnings per ADS: its goodwill balances from the AppTec acquisition for impairment and income tax provisions. Revised Full Year 2008 Guidance In light of the current economic environment and its impact on the anticipated research and development spending of its smaller customers, WuXi is revising its net revenue guidance for the full year 2008 to $260 to $265 million from $280 to $300 million. This represents year-over-year revenue growth ranging from 92% to 96%. Full year non-GAAP EBITDA will be in the range of $70 to $75 million (excluding share-based compensation charges, potential impact from goodwill impairment charges, and further mark-to-market adjustment on foreign currency forward contracts). Termination of Rule 10b5-1 Trading Plans; Company Trading Window At this time, each of our four founders (including Dr. Li) and other management members are terminating their existing 10b5-1 plans. A number of our executive officers, other management team members and employees, including each of our four founders (who are also WuXi executive officers and directors), previously (i) established pre-arranged stock trading plans in accordance with the provisions of Rule10b5-1 of the Securities Exchange Act of 1934, and (ii) sold ADSs pursuant to those plans. Although those 10b5-1 plans were terminated, we expect up to 350,000 ADSs may be sold by other management members and employees prior to year-end for 409A purposes. Prior to 2008, a number of our management members and employees who were U.S. taxpayers were granted options with an exercise price potentially below fair market value on the date of grant, as determined under Section 409A of the U.S. Tax Code. To avoid the adverse tax consequences imposed under Section 409A to these U.S. taxpayers, the options were amended previously to require that they be exercised, if at all, on or prior to December 31, 2008 (no other changes were made). If unexercised by year-end those options will expire, and those individuals may need to sell ADSs to pay related taxes and the purchase price payable upon exercise. Following the release of this announcement and the related conference call, WuXi intends to open its trading window under WuXi's Insider Trading Policy....   more»

Wuxi Pharma Tech »16/10/2008 [Company watch]
WuXi PharmaTech Expands Collaboration for Fully Integrated Services

WuXi PharmaTech (Cayman) Inc. (NYSE: WX), a leading pharmaceutical, biotechnology and medical device research and development outsourcing company with operations in China and the United States, today announced it has reached an agreement with Johnson & Johnson Pharmaceutical Research & Development, Division of Janssen Pharmaceutica, N.V. (J&JPRD) to expand its pharmaceutical R&D services collaboration. The new broad agreement aims to deepen the already long-standing relationship between J&JPRD and WuXi PharmaTech. WuXi, already a preferred research services provider to J&JPRD for discovery chemistry, will now provide integrated research services in the area of discovery chemistry, discovery biology, chemical and analytical development services, formulation, and preclinical and bio-analytical services, to enhance drug discovery and shorten development timelines. Commenting on the agreement, Dr. Ge Li, Chairman and Chief Executive Officer of WuXi PharmaTech, said, "We are very pleased to expand our partnership with J&JPRD. This agreement leverages WuXi's strong R&D capabilities from early stage discovery to commercial production to deliver reliable, high quality and cost-efficient services to J&JPRD. Our partnership demonstrates the strength of our innovation driven and fully integrated R&D service platform."...   more»

Wuxi Pharma Tech »17/10/2008 [Company watch]
* WuXi PharmaTech Appoints Jeff Leng to Its Board of Directors

WuXi PharmaTech (Cayman) Inc. (WX), a leading pharmaceutical, biotechnology and medical device research and development outsourcing company with operations in China and the United States, today announced the addition of Jeff X. Leng, managing director of General Atlantic LLC, to the WuXi Board of Directors. Mr. Leng is replacing Sean Tong, formerly with General Atlantic, on the WuXi board. General Atlantic is a global growth investor with a long-term investment horizon and an active value-added strategy. Dr. Ge Li, WuXi's Chairman and Chief Executive Officer commented, "We thank Sean for his invaluable contributions and leadership to the board, and we are pleased to welcome Jeff to the WuXi board. Jeff brings with him invaluable experience as an investor and advisor to growth companies. We will employ his expertise as we position WuXi for the future to meet and anticipate the services that our customers will require as their businesses evolve." Mr. Leng has 10 years' experience in investment and finance. He has been working for General Atlantic since 2007 and is based in China. Prior to joining General Atlantic, he served as a managing director at Warburg Pincus. Mr. Leng holds an MBA degree from the Wharton School at the University of Pennsylvania....   more»

MPI Research »17/10/2008 [Company watch]
China gets a new preclinical research facility

China-based Medicilon and Michigan, US-based MPI Preclinical Research have jointly opened a new preclinical research facility in Shanghai, China. The two parent companies are equally represented in this new joint venture. The 50,000 square foot building is located in the Chuansha Economic Park in Shanghai. This new facility will meet the regulatory standards set forth by the US FDA and other regulatory agencies worldwide. Dr Chun-Lin Chen, co-founder of Shanghai Medicilon, serves as the CEO of the joint venture, Medicilon/MPI Preclinical Research. Mr William U Parfet, Chairman and CEO of MPI Research, serves as the Chairman of the Board of Directors for the JV. Mr William Harrison, President and COO of MPI Research; Dr Jintao Zhang, CEO of Shanghai Medicilon; and Dr Chen are also serve as directors. As per the company release, Medicilon/MPI Preclinical Research provides global pharmaceutical and biotechnology companies with high quality preclinical drug discovery and development studies in an Asian facility that meets worldwide regulatory standards. The new company offers the advantage of conducting research at the Shanghai site for preclinical development, with potential for worldwide release. Customers will now have access to a broader range of both GLP and non-GLP preclinical services in China, such as toxicology, ADME, and pharmacodynamics. In 2009, the joint venture will be fully operational in terms of conducting US GLP FDA/IND enabling studies, and will receive AAALAC accreditation. According to the joint venture’s CSO, Dr Stephen Porter, with the addition of this important new preclinical development resource in China, Medicilon/MPI Preclinical Research Shanghai would usher in a new era of pharmaceutical development and would create the beginning of the 'second silk road' for China. MPI Research and Shanghai Medicilon will remain independent parent companies to the newly formed joint venture....   more»

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