WuXi PharmaTech, the research and development services company with operations in China and the US, has bulked up the Chinese end of its business by acquiring two related contract research suppliers based in Shanghai.
No financial terms were disclosed. The two companies, MedKey Med-Tech Development Co. Ltd. and Jiecheng Med-Tech Development Co. Ltd., were founded in 2006 and have some 80 employees between them. They operate across 15 cities in China, with offices in Shanghai, Beijing, and Guangzhou.
MedKey and Jiecheng provide services in regulatory affairs, management of Phase I-IV clinical trials and study-site management throughout most regions of China, WuXi noted. Their customer base includes both multinational pharmaceutical companies and domestic Chinese players.
David Xi, founder, owner and chief executive officer (CEO) of the two companies, will continue to manage MedKey/Jiecheng as WuXi’s executive director of clinical operations.
As part of WuXi, MedKey/Jiecheng will leverage its parent’s broad customer base while focusing on clinical services needed for Chinese regulatory filings and market access, the new owners said.“This acquisition provides WuXi an existing clinical development service capability and infrastructure that WuXi will expand and strengthen to serve our customers’ growing clinical development needs in the fast-growing Chinese healthcare market,” commented chairman and CEO Dr Ge Li.