WuXi PharmaTech Announces Expanded Agreement with Merck & Co., Inc.
Dec 07, 2006
December 7, 2006 – Shanghai, China – WuXi PharmaTech Co. Ltd., China's leading pharmaceutical R&D service company, announced today that Merck & Co., Inc., of Whitehouse Station, NJ, USA, has agreed to extend and expand an agreement through which WuXi provides a variety of chemistry-related R&D services.
The existing agreement between the two companies was signed in 2003. The new expanded agreement, extended till 2010, offers additional opportunities for collaboration, and substantially increases the number of full-time WuXi scientists assisting Merck. A broader range of functional WuXi services including synthesis, process research, and medicinal chemistry, will also be utilized. Merck is one of the largest pharmaceutical companies to seek Wuxi's services. Financial terms were not disclosed.
"This is a win-win opportunity for both sides" says Dr. Ge Li, Chairman and CEO of WuXi PharmaTech. "Our partnership with Merck helps us gain world class experience, and at the same time helps Merck better deploy their R&D resources. This agreement, the result of WuXi's sustained high performance on Merck projects, contributes greatly to our strategic target of becoming a first-class fully integrated R&D service company." continued Dr. Li.
About WuXi PharmaTech (Cayman) Inc.
WuXi PharmaTech is a leading pharmaceutical, biotechnology and medical device R&D outsourcing company, with operations in China and the United States. As a research-driven and customer-focused company, WuXi PharmaTech provides pharmaceutical, biotechnology and medical device companies a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi PharmaTech's services are designed to assist its global partners in shortening the cycle and lowering the cost of drug and medical device R&D. The operating subsidiaries of WuXi PharmaTech are known as WuXi AppTec. For more information, please visit: www.wuxiapptec.com.