Monday, February 15, 2010
Chinese contract research organization (CRO) WuXi Pharmatech reported an 87% increase in 2008 revenues compared with 2007, with net revenues for continuing operations of $253.5 million. Fourth-quarter 2008 net revenues from continuing operations increased 74% to $64.4 million compared with fourth quarter 2007. The CRO’s non-GAAP net income for 2008 was $58.3 million, up 31% from $44.6 million in 2007.
CenterWatch, a publishing and information services company focused on market research about clinical trials, finds in a new report that the Asia-Pacific region is grabbing an increasing share of the global clinical trial market, and with new regulatory changes across the region, has already been growing at more than 50% in recent years.
AstraZeneca is investing $100 million more in China over the next three years to build the AstraZeneca Innovation Centre China, an R&D facility to study the benefits of new drugs to Chinese patients. Already one of the most heavily invested in China among big pharma companies, AstraZeneca is further distinguishing itself as the leader there with this new commitment.