Following a recent run of bad news, Shanghai, China-based contract research organisation (CRO) WuXi PharmaTech had something more positive to report as it announced an agreement to expand its pharmaceutical R&D services collaboration with Johnson & Johnson Pharmaceutical Research and Development (J&JPRD).
WuXi was already a preferred research services provider to J&JPRD for discovery chemistry. Under the broader agreement, the CRO will provide integrated research services in the areas of discovery chemistry, discovery biology, chemical and analytical development services, formulation, and preclinical and bioanalytical services.
According to WuXi’s chairman and chief executive officer, Dr Ge Li, the new agreement leverages the CRO’s “strong R&D capabilities from early-stage discovery to commercial production to deliver reliable, high-quality and cost-efficient services to J&JPRD. Our partnership demonstrates the strength of our innovation-driven and fully integrated R&D service platform”.
Earlier this month, WuXi PharmaTech lowered its revenue guidance for 2008 after preliminary results for the third quarter came in below analysts’ expectations.
