WuXi PharmaTech Laboratory Testing Division Expands in U.S.
WuXi PharmaTech(Cayman) Inc. (WuXi) has announced that it has acquired XenoBiotic Laboratories, Inc. (XBL), a contract research organization with 27 years of successful operation that provides bioanalytical, drug metabolism, and pharmacokinetic services to the pharmaceutical, animal health, and agrochemical industries.
Financial terms were not disclosed. The transaction closed on September 30, 2014, and is expected to be neutral to WuXi’s 2014 diluted EPS and accretive to WuXi’s 2015 diluted EPS on a non-GAAP basis.
The acquisition bolsters WuXi’s Laboratory Testing Division (LTD) in bioanalytical and DMPK/ADME services, particularly in studies of radio-labeled compounds, while gaining access to new agricultural and animal health customers. The resulting expansion and enhancement of WuXi’s integrated service portfolio will accelerate the growth of LTD’s business and further strengthen WuXi’s position as a leading research and development service provider to the pharmaceutical and biotech industries.
This acquisition expands LTD’s presence in North America, provides greater flexibility in service and support options for our North American customers, and presents the opportunity for further expansion.
XBL has 150 employees and operates a 45,000-square-foot research center in Plainsboro, New Jersey, and a 36,000-square-foot facility in Nanjing, China. The company is FDA- and USDA-registered, New Jersey-licensed for work with radioisotopes, USDEA-licensed for conducting research with Schedule 1-5 controlled substances, and AAALAC-accredited.
“My colleagues and I are very excited to join WuXi, a global leader in providing drug discovery and development services to the global biopharmaceutical industry,” said Dr. Jinn Wu, President and Chief Executive Officer of XBL, who has been appointed Vice President and Chief Scientific Officer of LTD. “We will continue to provide our services to our current clients while also offering expanded services to WuXi’s clients.”
“We are very pleased to have XBL join the WuXi team,” said Dr. Ge Li, Chairman and Chief Executive Officer of WuXi. “Dr. Wu has spent the past 27 years building a solid organization and reputation within the industry. This business combination is an important step in WuXi’s development of a comprehensive, integrated platform of R&D services to help our customers discover and develop drugs more efficiently and cost-effectively.”