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Business

WuXi CEO Seeks To Take Firm Private

by Michael McCoy
May 4, 2015 | APPEARED IN VOLUME 93, ISSUE 18

WuXi Pharmatech, a Chinese provider of drug R&D and manufacturing services, has received a takeover offer worth more than $3 billion from founder and CEO Ge Li and Ally Bridge Group Capital Partners. WuXi will form a committee to consider it. Li founded WuXi in 2000, expanding it into a research outsourcing behemoth with more than 8,000 employees and sales last year of $674 million. Last week the firm announced that it is building the world’s largest disposable-bioreactor-based mammalian cell culture facility in the city of Wuxi, China.

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