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WuXi PharmaTech And PRA Form Joint Venture To Offer Clinical Research Services For Chinese Market

Stocks in this article: WX









SHANGHAI and RALEIGH, N.C., Dec. 18, 2012 /PRNewswire/ -- WuXi PharmaTech, a leading contract research organization with operations in China and the United States, and PRA, a leading global clinical contract research organization, today announced that they have signed a joint venture agreement to offer a broad platform of Phase I-IV clinical trial services in China, Hong Kong and Macau. The joint venture will provide services including clinical trial monitoring, project management, regulatory strategy and submissions, data management, biostatistics, drug safety reporting, and medical monitoring.

The clinical operations of WuXi and PRA in China will combine to operate as an independent CRO and will be jointly owned by their respective parent companies. WuXi will contribute clinical and regulatory experience to the joint venture from its China-based clinical organization. That organization covers all regions of the country and has employees working in 16 Chinese cities, with offices in Shanghai, Beijing and Guangzhou. WuXi will also supply laboratory services to the joint venture through a preferred provider arrangement. PRA offers the venture a wealth of global resources and clinical research expertise, reflected in more than 3,100 studies conducted over the last five years and contributions to 40 approved drugs in several therapeutic areas. PRA will also support the venture with its China-based staff and global technology capabilities, encompassing data capture, trial management and other IT systems. The companies will market the joint venture's services to their respective customers.

"We are delighted to partner with PRA to build the leading clinical-trial services operation in China," said Dr. Ge Li, Chairman and CEO of WuXi PharmaTech. " China's pharmaceutical market today is the third largest in the world and growing very rapidly. Biopharmaceutical companies increasingly need sophisticated clinical-trial management services to gather the highest-quality data in Chinese patients to complete Chinese and international regulatory filings as quickly and successfully as possible. We aim to become the clinical trial service provider of choice in China with the highest quality standards and operational excellence."

"PRA's global experience and technical expertise and WuXi's operational experience and knowledge in China are a perfect fit," said Colin Shannon, President and CEO, PRA. "Our companies also share a culture dedicated to delivering excellent customer service, valuing employees and meeting the highest standards of quality. Clinical trials continue to expand in China, and this joint venture is another step we are taking to meet the needs of our clients by establishing a strong presence there.  We look forward to working with WuXi to serve global life science companies conducting studies in China."

About WuXi PharmaTech

As a research-driven and customer-focused company, WuXi PharmaTech provides 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. WuXi AppTec is the name for the operating subsidiaries of WuXi PharmaTech. For more information, please visit: http://www.wuxiapptec.com.



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