WuXi PharmaTech and British-based AstraZeneca Hold Media Round Table
Aug 25, 2006
August 25, 2006 - Shanghai, China – WuXi PharmaTech, China's leading pharmaceutical R&D service company, and AstraZeneca, one of the world's largest pharmaceutical companies, jointly held a media round table on Aug. 25 at WuXi PharmaTech's Shanghai headquarters to celebrate their two-year, US$ 14 million collaboration.
At the Media Round Table, AstraZeneca promoted its position of "in China for China." When asked if the collaborative relationship between the two companies would be expanded, James Cai, vice president of R&D for AstraZeneca China elaborated that, 'Thus far the relationship has been very successful, should this continue, I see no reason that our efforts and collaboration will not expand."
AstraZeneca has cooperated with WuXi PharmaTech as a local collaborative partner to, "not only take advantage of the relatively lower cost of operation, but also focus on the differences between diseases of China and those of the west," said James Cai.
Dr. Ge Li, Chairman and CEO of WuXi PharmaTech expressed great faith in this collaboration by adding, "This is a win-win opportunity for both sides. For WuXi PharmaTech, this is a great opportunity to learn the most advanced R&D techniques and to improve our operation and customer services. This kind of partnership will certainly help us to become a first-class R&D service company. "
AstraZeneca seeks to utilize its WuXi PharmaTech collaboration and in-China research centers to discover and develop drugs specific to Chinese market, which is forecasted to grow to fifth largest pharmaceutical market in the world by 2010.
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.