Issue Date: October 31, 2011
ShangPharma, WuXi Buy Chinese Assets
The contract research firm ShangPharma is boosting its research space in China. Through its flagship subsidiary Shanghai ChemPartner, the company has bought the leases and lab equipment of Charles River Laboratories in Shanghai. The deal provides ShangPharma with about 46,000 sq ft of new space at Shanghai’s Zhangjiang Hi-Tech Park, where ChemPartner is based. Separately, WuXi PharmaTech has bought two Chinese companies performing clinical studies. MedKey Med-Tech Development and Jiecheng Med-Tech Development are related firms that employ 80 people. WuXi says the acquisitions will broaden its range of services.
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