WuXi PharmaTech Makes Clinical-Stage CRO Acquisition

WuXi PharmaTech will acquire two related China clinical-stage CROs so that the company can expand its offerings to include clinical-stage services for its clients. Previously, WuXi’s offerings were limited to pre-clinical drug development and contract manufacturing. In August, Dr. Ge Li, CEO of WuXi, announced the company would move into clinical-stage services through a “combination of organic growth and acquisitions." Positioning the expansion as a natural outgrowth of its pre-clinical work, Dr. Li said clients were requesting help in obtaining SFDA approval for their new products. More details.... Stock Symbol: (NYSE: WX)