SHANGHAI, China, June 10 /Xinhua-PRNewswire/ -- WuXi PharmaTech (NYSE:
WX), a leading pharmaceutical, biotechnology and medical device research
and development outsourcing company with operations in China and the United
States, announced today that it has signed a new three-year collaboration
agreement with AstraZeneca.
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In April 2006, WuXi PharmaTech and AstraZeneca entered into a two-year
US$14 million collaboration agreement that WuXi PharmaTech successfully
delivered more than 100,000 compounds two months ahead of schedule.
"This new collaboration agreement further strengthens our already
productive relationship with AstraZeneca, and it is the direct result of
our research capability and firm commitment to quality and customer
satisfaction," commented Dr. Ge Li, Chairman and Chief Executive Officer of
WuXi PharmaTech, "We are hopeful that with our strong and growing drug R&D
capabilities the expansion of our collaboration will help AstraZeneca
achieve its strategic goals."
Under the new collaboration agreement WuXi PharmaTech will synthesize
compounds, according to AstraZeneca's designs, which will further expand
AstraZeneca's global compound collection.
"The collaboration with WuXi PharmaTech has exceeded our expectations
delivering value to AstraZeneca beyond the cost savings in labor and
materials," said Deborah Hartman, Vice President, Lead Generation Discovery
Enabling Capabilities and Sciences (DECS), AstraZeneca, "We are looking
forward to the prospect of building on this success through our expanded
High Throughput Screening remains a major source of chemical starting
points, making it important to generate many high quality compounds with
the proper purity and targeted characteristics. WuXi PharmaTech has
developed an innovative, scalable and high through put library compound
synthesis and purification process with an annual capacity of one million
compounds. Other lead generation services provided by the company include
designing and synthesizing libraries, as well as templates for library
synthesis, benchmark compound synthesis and custom synthesis.
About WuXi PharmaTech
WuXi PharmaTech is a leading pharmaceutical, biotechnology and medical
device R&D outsourcing company, with operations in China and the United
States. As a research-driven and customer-focused company, WuXi PharmaTech
provides pharmaceutical, biotechnology and medical device companies 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. For more information,
please visit: http://www.wuxipharmatech.com .
SOURCE WuXi PharmaTech