WuXi PharmaTech acquires China-based clinical services companies; ShangPharma buys Charles River research facility

WuXi PharmaTech (NYSE: WX) says it has acquired MedKey Med-Tech Development and Jiecheng Med-Tech Development, two related contract clinical research services companies based in Shanghai, China. The financial terms of the transaction were not disclosed.

Founded in 2006, MedKey/Jiecheng have about 80 employees and operate in 15 cities in China, with offices in Shanghai, Beijing and Guangzhou. The companies provide services in regulatory affairs, Phase I-IV clinical trial management and clinical trial site management throughout most of the regions in China. Their customer base includes both multinational pharmaceutical companies and domestic Chinese pharmaceutical companies.

David Xi, founder, owner and chief executive of the companies, will continue to manage MedKey/Jiecheng as WuXi's executive director of clinical operations. As part of WuXi, MedKey/Jiecheng will leverage WuXi's broad customer base and will focus on clinical services needed by customers for Chinese regulatory filings and market access.