High Cost Of Research Leads MNCs To Shanghai-Based WuXi Pharmatech (China)

Thanks to moves by multinational pharmaceutical companies, Shanghai-based WuXi Pharmatech is expected to have more chemists on its staff than the world's largest drug maker, Pfizer. Pfizer and other MNCs look to WuXi for research that could lead to a possible blockbuster drug for them as they face a need to reduce costs, in part by trimming personnel levels. That has allowed WuXi to flourish to the extent it was able to transform itself into a public company whose market value has doubled in four months. CEO Ge Li acknowledges the company exists because of excessive research costs elsewhere. (Click here for more