Wuxi PharmaTech Inc ., a Chinese contract researcher for nine of the world's top 10 drugmakers, agreed to buy closely held AppTec Laboratory Services Inc. for about $151 million to bolster biotechnology production.

AppTec, of St. Paul, Minnesota, is expected to have $70 million to $72 million in 2007 revenue with a compound annual growth rate of 46 percent since 2004, the companies said in a conference call today. Like Wuxi, AppTec provides laboratory testing of devices and biopharmaceuticals. Wuxi will also assume $11.7 million in debt.

....click the link to read more 

Start a conversation

Add New Search RSS

Join the conversation
Name:
Title:
UBBCode:	-color-aquablackbluefuchsiagraygreenlimemaroonnavyolivepurpleredsilvertealwhiteyellow -size-tinysmallmediumlargehuge

Powered by JoomlaCommentCopyright (C) 2006 Frantisek Hliva. All rights reserved.Homepage: http://cavo.co.nr/