NEW YORK and SHANGHAI, March 7, 2011 /PRNewswire-Asia/ -- Bristol-Myers Squibb Company (NYSE: BMY) and WuXi PharmaTech (NYSE: WX) today announced that they have entered a strategic partnership to conduct stability studies of small-molecule new chemical entities to support global marketing applications.
Under the agreement, WuXi will build, equip and operate a dedicated, fully cGMP-compliant 25,000-square-foot analytical testing facility in Shanghai to store and test stability samples and to perform other services for Bristol-Myers Squibb. WuXi will also employ a dedicated staff for stability testing, sample management, analytical testing, pharmaceutical science, quality assurance, metrology, and other services, including stability data reporting in support of all global dossier submissions by Bristol-Myers Squibb.
"This new agreement expands our already productive relationship with Bristol-Myers Squibb, a valued customer for many years," said Ge Li, Ph.D., chairman and chief executive officer of WuXi PharmaTech. "We will continue to help them to improve their R&D productivity with our innovation-driven, cost-effective and fully integrated R&D service platform."
"WuXi PharmaTech is an important partner for Bristol-Myers Squibb's research and development organization," said Mark Powell, Ph.D., senior vice president, Non-Clinical Development, Bristol-Myers Squibb. "This agreement will expand the scope of our relationship with WuXi and enhance the presence of Bristol-Myers Squibb in China. It is also an example of our R&D organization executing our company's BioPharma model by using selective integration to leverage the strengths and talents of both Bristol-Myers Squibb and a valued partner."
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, developand deliver innovative medicines that help patients prevail over serious diseases. For more information, please visit www.bms.com or follow us on Twitter at http://twitter.com/bmsnews.
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 with a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical-device R&D process. For more information, please visit: http://www.wuxiapptec.com .
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