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From Asia’s Explosive Growth
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Top Chinese Stock #2 –
WuXi PharmaTech (WX)For most global pharmaceutical companies, bringing a new drug to market can cost more than $1 billion and take more than 10 years. To reduce these costs, most pharmaceutical and biotech players are taking a page out of IT companies’ playbooks and are now outsourcing nearly 80% of their R&D projects.
Helping the pharmaceutical industry with their R&D needs is China’s WuXi PharmaTech (WX). The company has grown into one of the largest and most successful pharma outsourcing powerhouses in China thanks to the company’s Western-trained Ph.D.s and MBAs with experience in drug R&D procedures and Western-style business practices. This training and knowledge allows the company to better serve its U.S.- and Western Europe-based multinational pharmaceutical companies. This is how the company lured the world’s top 10 pharmaceutical companies away from its competitors and why it has 100% repeat business from each of them, including Pfizer and Merck. This is also why the company doubled investors’ money in 2009 and will likely double investors’ money again this year — as U.S. companies get lean and mean in the face of health reform.
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