WuXi PharmaTech acquires two clinical research companies in China
Monday, October 24, 2011
WuXi PharmaTech has acquired MedKey Med-Tech Development and Jiecheng Med-Tech Development, two related contract clinical research services companies based in Shanghai, China. The financial terms of the transaction were not disclosed.
Founded in 2006, MedKey/Jiecheng have about 80 employees and operate in 15 cities in China, with offices in Shanghai, Beijing, and Guangzhou. The companies provide services in regulatory affairs, phase I-IV clinical trial management, and clinical trial site management throughout most of the regions in China. Their customer base includes both multinational pharmaceutical companies and domestic Chinese pharmaceutical companies.
David Xi, founder, owner, and CEO of the companies, will continue to manage MedKey/Jiecheng as WuXi’s executive director of clinical operations. As part of WuXi, MedKey/Jiecheng will leverage WuXi’s broad customer base and will focus on clinical services needed by customers for Chinese regulatory filings and market access.
“WuXi’s acquisition of Medkey/Jiecheng continues our strategy to build an integrated platform of R&D services that will allow anyone and any company to discover and develop drugs more efficiently and cost effectively for patients,” said Dr. Ge Li, chairman and CEO of WuXi. “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.”