WuXi PharmaTech, China's largest CRO, banked another strong revenue quarter thanks to escalating demand for clinical trials in its home country, and now the company is raising its annual profit expectations by about 7.6%.
WuXi PharmaTech says it has expanded a biologics plant in Shanghai by adding two 2,000-liter disposable bioreactors. The facility already has two cell culture suites containing the 500-liter and 1,000-liter disposable bioreactors in operation.
WuXi PharmaTech won CLIA certification for its Shanghai genomics lab, making it the first such outfit in China to meet U.S. testing standards.
WuXi PharmaTech, China's largest CRO, is counting on the burgeoning drug development market in its home country to deliver a big 2013, stretching its annual revenue guidance after another quarterly boost.
For CROs running trials around the globe, amassing loads of data is no sweat, but sharing it with sponsors in disparate countries and keeping it all in line for an eventual regulatory application can be daunting. With that in mind, WuXi PharmaTech, Inflamax Research and CROS NT have all signed deals for eClinical software to manage their trials.
Welcome to this week's roundup of hirings and firings throughout the industry. Please send the good word (or the bad) from your shop to Michael Gibney (email | Twitter) or Emily Mullin (email |...
WuXi PharmaTech and PRA believe they have a bright future in China together, and they've picked up the founding CEO of Theorem Clinical Research to lead them there.
Thanks to some big-name deals over the past year, Ambrx could rake in nearly $1 billion in licensing for its antibody drug conjugates, but the company hasn't lost sight of its in-house development, now partnering with WuXi PharmaTech and a Chinese drugmaker to advance a breast cancer treatment.
WuXi PharmaTech, China's largest CRO, has big expectations for 2013, and the company is well on its way to following through, posting an 11.7% revenue jump in the first quarter.
After clearing about $500 million in revenue last year, Chinese CRO giant WuXi PharmaTec is expecting between 13% and 15% growth in 2013, counting on an increase in big-name partnerships and an expansion of the local drug market.