WuXi PharmaTech Signs LOI to Establish New Company

WuXi PharmaTech (药明康德) 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 to ChinaBio® Today . They caution that WuXi PharmaTech has not begun construction, nor committed itself to a specific timetable. More details... Stock Symbol: (NYSE: WX)