WuXi PharmaTech, Inc. is a Cayman Islands holding company. It conducts substantially all of its business through five operating subsidiaries in China and one operating subsidiary in the United States. It is a pharmaceutical, biotechnology and medical device R&D outsourcing company, with operations in China and the United States. It provides a broad and integrated portfolio of laboratory and manufacturing services throughout the R&D process to its customers, which include many of the world's premier pharmaceutical, biotechnology and medical device companies. The Company's services are designed to assist its global customers in shortening the time and lowering the cost of pharmaceutical and medical-device R&D by providing cost-effective and efficient outsourcing solutions. It groups its operations into two segments: laboratory services and manufacturing services. The Company's laboratory services segment focused entirely on helping its customers discover and develop small-molecule pharmaceuticals through its services in discovery chemistry, medicinal chemistry, service biology, toxicology, formulation and bioanalytical and analytical services. The Company's manufacturing services segment focused on producing advanced intermediates and APIs for small-molecule pharmaceuticals used by its customers in clinical testing. Laboratory services are composed of discovery chemistry, discovery biology, DMPK/ADME, toxicology, process R&D, formulation, bioanalytical, biologics testing, medical device testing and development, and other related contract R&D services. The Company's current customers include all of the world's ten largest pharmaceutical companies. The pharmaceutical and biotechnology R&D outsourcing market remains highly fragmented. It competes with industry players in particular service areas- for example with Charles River Laboratories International, Inc., which recently partnered with Shanghai BioExplorer Co., Ltd., in the preclinical services area, and with Shanghai ChemPartner Co., Ltd. and BioDuro in the discovery chemistry area. Governmental agencies throughout the world, particularly in the United States, strictly regulate the pharmaceutical, biotechnology and medical device R&D process. The Company's business helps pharmaceutical, biotechnology and medical device companies navigate the regulatory drug approval process.
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