July 29, 2007 – After being labled a bubble, the stock markets in China are now at all-time highs while ex-China markets are in decline. In this environment, WuXi PharmaTech filed for an IPO on the NYSE. WuXi is a very strong company at the top of its game, making its IPO when outsourcing early biopharma development to China increasingly makes sense. AstraZeneca (AZN) underscored that logic, announcing it would cut back operations elsewhere in the world as it invests in China. The Eleventh Five-year Plan for biotech in China shows official commitment to the sector, while enforcement of safety standards continues to be strengthened. More details...
