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Sektor Pharmazeutik Kosmetik & med. Produkte
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WuXi AppTec (pronounced woo-shee app-tek) is a leading global contract research outsourcing provider, serving the worldwide pharmaceutical, biotech, and medical device industries. The company is headquartered in Shanghai and has operations in both China and the United States. We provide a broad and integrated portfolio of laboratory and manufacturing services throughout the R&D process. Our services are designed to help our global partners shorten the time and lower the cost of R&D.
WuXi AppTec is the product of the merger in early 2008 of WuXi PharmaTech Inc., a chemistry-based company founded in China in 2000, and AppTec Laboratory Services Inc., a U.S. company founded in 2001 with biology-based expertise. WuXi PharmaTech expanded its services rapidly throughout the decade, offering discovery chemistry services in 2001, process development in 2003, GMP manufacturing in 2004, bioanalytical chemistry in 2005, service biology in 2006, and toxicology and formulation in 2007. AppTec provides a broad range of testing services for the medical device and biotech industries.
Biopharmaceutical and medical device research and development is complex, high-risk, and expensive. Improving R&D productivity is vitally important not only for the continued success of life sciences companies but also for the health of our families and each of us. Our competitive advantage rests on these elements:
- an experienced international management team;
- a highly educated and trained workforce of over 3,700 employees, including more than 2,900 scientists, the majority with advanced degrees;
- broad technical expertise;
- operational excellence;
- world-class facilities in both China and the United States;
- an intense focus on a diversified, high-quality customer base;
- a flexible contractual approach; and
- strong procedures to protect customers' intellectual property.
The company's client list includes most of the major pharmaceutical and biotechnology companies, including nine of the 10 largest companies by revenue. As our customers recognize the value we bring, they reward WuXi AppTec with larger and more valuable contracts. The revenue from our top 10 customers for the first nine months of 2008 grew 43% over the same period in 2007. In recognition of the key contributions we made to their success, WuXi AppTec has received awards from leading pharmaceutical customers, including Pfizer, Merck, AstraZeneca, Novartis, Genentech, and Millennium, etc.
WuXi is recognized as a strong growth company that has delivered solid financial performance since its inception, including 98% growth in net revenues and 70% growth in adjusted EBITDA in the third quarter of 2008 compared to the comparable period in 2007. Our management has strategies in place to build on this record and sustain long-term growth. The three key priorities for 2009 are to expand and strengthen WuXi's core laboratory services business to meet increasing customer demand; to establish our good laboratory practice (GLP) toxicology center in Suzhou, which will be a strong value driver for WuXi in 2010 and beyond; and to initiate operations in our commercial-scale API manufacturing site in Jinshan. Success in these three areas is expected to deliver strong customer benefit and drive growth in shareholder value for many years to come. Our goal is to be the outsourcing partner of choice from bench to market.
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