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WuXi PharmaTech Co., Ltd. Signs VMI Agreement With BASF AG (BF)


10/19/2005 5:13:16 PM

Cuts Shipping Days From Seven to Zero

SHANGHAI, China, April 13 /Xinhua-PRNewswire/ -- Recently, WuXi PharmaTech Co., Ltd. and BASF agreed on a vendor managed inventory (VMI) system for selected inorganic specialties, which will set up a consignment-based vendor stock at WuXi PharmaTech. With an on-site BASF managed inventory, researchers at WuXi PharmaTech will be able to get reagents from BASF's wide portfolio of Boron Chemicals and Strong Bases without worrying about delivery uncertainty and lead-time.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040705/CNM002LOGO )

As a chemistry-based R&D service company, WuXi PharmaTech strives to provide high quality and timely services to global pharmaceutical and biopharmaceutical companies. WuXi PharmaTech regularly purchases chemicals and reagents from vendor catalogs. Companies like Acros, Adrich, Lancaster, TCI, Fisher Scientific and etc. all provide their products and services to WuXi PharmaTech. However, many must-have reagents and chemicals have to be shipped from overseas and thus have long lead-time, an issue that WuXi PharmaTech has been trying to solve. The VMI arrangement with BASF will reduce such lead-time and minimize demand and supply uncertainty for both BASF and WuXi PharmaTech. Such an agreement precisely reflects the customer- centered business ethic and excellence that WuXi PharmaTech embodies.

With the expanding of business and the setup of a new GMP plant in Shanghai, WuXi PharmaTech is poised to achieve high growth and attract more collaboration partners; one representative of such is BASF.

BASF is the world's leading chemical company. Its portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. As a reliable partner to virtually all industries, BASF's intelligent solutions and high-value products help its customers to be more successful. In 2004, BASF had approximately 82,000 employees and posted sales of more than Â?37 billion.

Dr. Ge Li, the Chairman & CEO of WuXi PharmaTech, commented ''The agreement on vendor managed inventory is a win-win solution for both BASF and WuXi PharmaTech. The consignment arrangement not only eliminates our order fluctuation for BASF, but also, more importantly, ensures our service commitment to WuXi PharmaTech's customers by allowing us to cut the usual seven shipping days to zero. This deal is a milestone for us and we encourage other vendors to follow suit. Again, this agreement demonstrates our determination to serve "our customers better"."

About WuXi PharmaTech

Shanghai-based WuXi PharmaTech Co., Ltd. offers global pharmaceutical / bio-pharmaceutical companies diverse outsourcing services in combinatorial, medicinal, synthetic chemistry and manufacturing. Importantly, it also allows them to take full advantage of the lower research costs in China. WuXi PharmaTech's rapidly expanding line of services ranges from early stage discovery chemistry through lead optimization chemistry, all the way to process research & development and bulk manufacture of active pharmaceutical ingredients. With the addition of a new GMP plant at Jinshan in Shanghai, WuXi PharmaTech has further increased its bulk production capacity to meet rapidly growing customer demand. WuXi PharmaTech's strong capabilities and impressive track record enable the Company to provide a broad spectrum of integrated development services from milligram to metric ton scaled active pharmaceutical ingredients, intermediates and raw materials. Currently, WuXi PharmaTech's client list includes over 60 leading drug discovery companies covering a majority of the world's largest pharmaceutical companies.

For more information, please contact: Bei Zeng, PR Department, WuXi PharmaTech Co., Ltd. Tel: +86-21-5046-4002 Fax: +86-21-5046-1000 Email: zeng_bei@pharmatechs.com Web: http://www.pharmatechs.com/http://www.pharmatechs-us.com/http://www.pharmatechs.com.cn/

Photo: NewsCom:http://www.newscom.com/cgi-bin/prnh/20040705/CNM002LOGOPRN Photo Desk, +1-888-776-6555 or +1-212-782-2840 WuXi PharmaTech Co., Ltd.

CONTACT: Bei Zeng, PR Department of WuXi PharmaTech Co., Ltd.,+86-21-5046-4002, or fax, +86-21-5046-1000, or zeng_bei@pharmatechs.com



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