WuXi PharmaTech Borrows $165 Million for New Ventures

WuXi PharmaTech has borrowed $165 million from a consortium of banks in Asia to expand into new businesses. As one project for the capital, WuXi wants to extend its recently acquired personalized medicine diagnostic capabilities to hospitals in China. Currently, WuXi is spending $340 million in already announced major cap-ex projects (2014-16), and it has spent $100 million to acquire genomics companies in the last six months. On September 30, 2014, it reported cash of $381 million. More details.... Stock Symbol: (NYSE: WX) Share this with colleagues: // //