WuXi PharmaTech (pronounced woo-shee pharma-tek) is a leading global contract R&D services provider serving the 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. The parent company is known as WuXi PharmaTech, and its operating divisions are known as WuXi AppTec (pronounced woo-shee app-tek)
WuXi PharmaTech 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 expertise in medical-device and biologics testing. WuXi PharmaTech Inc. expanded its services rapidly throughout the decade, offering discovery chemistry services in 2001; process development in 2003; research manufacturing in 2004; bioanalytical chemistry in 2005; discovery biology in 2006; toxicology and formulation in 2007; commercial manufacturing in 2009; genomics, clinical trial management and research reagents in 2011; and biologics discovery, development and manufacturing in 2012.
Biopharmaceutical and medical device research and development is complex, high-risk, and expensive for our customers. 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 about 7,000 employees, including about 6,000 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. As our customers recognize the value we bring, they give WuXi AppTec larger and more valuable contracts. 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, Millennium, and other companies.
WuXi is recognized as a strong growth company that has delivered solid financial performance since its inception. Revenues totaled $499.9 million and GAAP net income totaled $86.6 million in 2012. Our management has strategies in place to build on this record and to sustain long-term growth. Key drivers of growth in 2012 are our expanding capabilities and capacity and high-quality services in China-based Laboratory Services; increasing utilization of our integrated drug development services for API manufacturing, IND-enabling toxicology studies and IND filings with the China SFDA and global regulatory authorities; strong growth in testing revenues for both biologics and medical devices in our U.S.-based Laboratory Services; an expanding pipeline in both research manufacturing and commercial manufacturing; and the ramp-up of biologics drug discovery, development, and manufacturing services. Success in these 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.