SHANGHAI, China, April 28 /Xinhua-PRNewswire-FirstCall/ -- WuXi
PharmaTech (NYSE: WX), a leading pharmaceutical, biotechnology and medical
device research and development outsourcing company with operations in
China and the United States, today proudly announced that it has been
listed among "The BCG 50 Local Dynamos" by The Boston Consulting Group
(Logo: http://www.newscom.com/cgi-bin/prnh/20040705/CNM002LOGO )
BCG defines local dynamos as companies from rapidly developing
economies (RDEs) that remain local and use truly innovative business models
to conquer their domestic markets. BCG has identified six key success
factors that distinguish these 50 local dynamos from their less successful
competitors. These six factors are: customizing to local needs, devising
innovative business models that overcome local challenges, leveraging the
latest technologies, benefiting from low-cost labor and overcoming
shortages of skilled labor, scaling up fast and sustaining long-term hyper
growth without imploding.
Among the 50 local dynamos, 15 are from China and WuXi PharmaTech is
the only winner in the health care industry. Other China-based winners
include Baidu.com, Ctrip.com International, Focus Media, New Oriental
Education and Technology Group, and Shanda Interactive Entertainment.
"We chose companies mainly based on their having an innovative business
model," commented David Michael, the report's coauthor, Partner and
Managing Director of BCG Greater China.
"We are very pleased and honored to be one of The 50 Local Dynamos by
BCG. With a vision to transform the global drug and medical device R&D
model, WuXi PharmaTech is building a global R&D service platform that
serves pharmaceutical, biotechnology and medical device companies
worldwide," commented Dr. Ge Li, Chairman and Chief Executive Officer of
WuXi PharmaTech. "We will continue our unremitting efforts to better serve
clients and create value for our shareholders."
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: www.wuxipharmatech.com.
For more information, please contact:
SOURCE WuXi PharmaTech