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TOP NEWS
Wuxi Pharma Tech
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 13/11/2009
[Company watch]
WuXi Pharma Planning New Facility for R&D Services
WuXi PharmaTech has signed a letter of intent with the Wuxi Outsourcing Area for Bio-Medical Research and Development to establish a facility that will provide R&D services. So far, WuXi PharmaTech has not made a formal announcement of the LOI, though company officials did confirm its existence
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by: ChinaBio Today
WuXi PharmaTech has signed a letter of intent with the Wuxi Outsourcing Area for Bio-Medical Research and Development to establish a facility that will provide R&D services. So far, WuXi PharmaTech has not made a formal announcement of the LOI, though company officials did confirm its existence. They caution that WuXi PharmaTech has not begun construction, nor committed itself to a specific timetable.
According to reports, WuXi PharmaTech will form a new firm with registered capital of 100 million RMB ($14.7 million) that covers an area of 6.7 hectares.
The new company will use proprietary technology and human resources from its parent, the contract research organization WuXi PharmaTech. It will provide biopharmaceutical R&D and manufacturing outsourcing services, including exporting monoclonal antibodies, vaccines, and recombinant proteins to global biopharmaceutical companies. Although the report is not specific, it sounds as though the new WuXi PharmaTech company will provide biological R&D services, including contract manufacturing. At present, WuXi PharmaTech provides only chemistry-based R&D services.
In January 2008, WuXi PharmaTech bought AppTec Laboratory Services, which is based in the US and included a biologics contract manufacturing division. It closed the biological CMO business by the end of 2008, because revenues had dried up. The original WuXi PharmaTech does small-batch CMO work on chemistry-based drugs for companies that need enough of a new product for research or clinical trials. |
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