2008 is already shaping up to be quite a year. While the media worldwide is focusing on two marquee events on each side of the Superpower fence – the U.S. election and the 2008 Olympics – a breaking storyline is emerging that will increasingly interlink the analysis: Chinese takeovers of U.S. companies. Shanghai-based WuXi Pharmatech, a leading Chinese pharmaceutical and
biotech R&D outsourcing company, is the latest ambitious Chinese
company to raise its global game by acquiring U.S. interests.
It has
signed an agreement to pay USD151m for AppTec Laboratory Services, a St
Paul, Minnesota-based bio pharmaceutical and medical device provider.
The deal is expected to be concluded in the first quarter on 2008,
following regulatory approval from the U.S. government. The acquisition
of AppTec allows the Chinese firm to obtain biologics capabilities and
research and testing expertise, as well as distribution channels in the
United States – and the opportunity to expand its customer base.
Ge Li, Chairman and Chief Executive Officer of WuXi Pharmatech – which
went public last August and has a market value of around USD1.87 bn –
said that the takeover formed a key part of WuXi's goal of becoming the
world's R&D outsourcing leader.
News & Interviews 
2008 is already shaping up to be quite a year. While the media worldwide is focusing on two marquee events on each side of the Superpower fence – the U.S. election and the 2008 Olympics – a breaking storyline is emerging that will increasingly interlink the analysis: Chinese takeovers of U.S. companies. Shanghai-based WuXi Pharmatech, a leading Chinese pharmaceutical and
biotech R&D outsourcing company, is the latest ambitious Chinese
company to raise its global game by acquiring U.S. interests.
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