WuXi PharmaTech, China's largest CRO, is positioning itself to cash in on the fervor over new immunotherapies for cancer, planning to build a U.S. facility devoted to manufacturing the newfangled cell therapies.
After announcing aggressive expansion plans for 2015 earlier this month, WuXi PharmaTech gave some indication last week of just how it intends to grow--for starters, it'll build a 145,000-square-foot cell therapy manufacturing plant in Philadelphia.
WuXi PharmaTech posted a record revenue year in 2014, and China's largest CRO is planning to increase its internal investments in hopes of delivering double-digit growth.
WuXi PharmaTech reported fourth-quarter results on Friday that showed how it would spend recent borrowings of $165 million in an aggressive plan of building and financial targets in 2015. The NYSE-listed company handles pharmaceutical, biopharmaceutical and medical device operations in China and the United States.
China's TaiMed Biologics has won the FDA's breakthrough drug title for its HIV therapy, ibalizumab (TMB-355), making it apparently the first Chinese med to get onto the list.
China's TaiMed Biologics has won the FDA's breakthrough therapy designation for its HIV therapy, ibalizumab (TMB-355), making it apparently the first Chinese med to get onto the list.
Acquisitive Chinese CRO WuXi PharmaTech is borrowing up to $165 million to keep up its string of deals, eyeing investments in R&D and manufacturing.
WuXi PharmaTech, China's largest CRO with nearly $350 million in new manufacturing facilities, is borrowing $165 million to help finance the construction and expansion of its production capabilities.
Chinese CRO giant WuXi PharmaTech is continuing its push into genomic sequencing, paying $65 million for NextCODE Health, a Big Data-focused spinout of the high-profile deCODE.
China's WuXi PharmaTech has launched an app to allow clients to order its chemistry services on the go, touting it as an industry first as the CRO works to claim more of the small-molecule services market.