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TOP NEWS
Wuxi Pharma Tech
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 26/02/2010
[Industry news]
WuXi Pharma COO Highlights Planned Growth
WuXi PharmaTech plans to continue its growth by expanding into biotech, safety evaluation and manufacturing. In fact, to make the growth a reality, the company invests about $60 million each year in capital expenditures.
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By China Biotech
WuXi PharmaTech plans to continue its growth by expanding into biotech, safety evaluation and manufacturing. In fact, to make the growth a reality, the company invests about $60 million each year in capital expenditures.
The overview of WuXis outlook and operations was published recently in the China Daily, including an interview with Edward Hu, COO of the company.
The majority of our clients are big international firms, with Pfizer (PFE) and Merck (MRK) ranking as the top two, said Hu: As business expands, we want to win more clients, big or small, and get more orders from current customers.
As ChinaBio Today reported earlier this week, WuXi PharmaTech received AAALAC accreditation for its Suzhou tox lab, which began operations in 2009.
Also this week, WuXi PharmaTech was granted GMP compliance from the European Medicines Agency (EMEA), for its c-GMP drug product manufacturing and analytical testing facilities located in Shanghai. Revenues for 2009 are expected to rise by 10% to about $270 million. That’s a far cry from the 100% growth the company reported in the 2005-8 period. But considering that most of the CRO industry has experienced cutbacks in the last year, WuXi has reason to be proud of its performance. For 2010, Hu would say only that revenues will rise \"above last year\'s level.\"
WuXi is also expanding its manufacturing capabilities with plans to build a large-scale biological manufacturing facility in the works. At the beginning of 2008, WuXi PharmaTech bought AppTec, a US-based company that included a biologics manufacturing business. Unfortunately, the bottom dropped out of that sector, and WuXi closed the biologics unit at the end of 2008. Now, apparently, it wants to establish the business in China. Big pharma companies continue to increase their R&D, though the 3% to 4% rate is not spectacular. However, more and more of their work is being outsourced – about a 6% to 8% growth rate in that category. And an increasing percentage of that work is being done in China, whose CRO industry is increasing revenues at an 18% rate.
Or, as WuXi’s COO Hu says modestly, \"Growth for China\'s CRO market will be far above the global average.†|
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