August 11, 2007 – We compare the valuation of WuXi PharmaTech, which staged a very successful IPO last week, to two stateside contract research organizations. WuXi is more expensive than either one in terms of revenue and earnings multiples, but its margins are higher and it is growing faster, so it deserves its premium pricing. Also, three China biopharmas listed in the US released solid earnings reports, China divulged its financial commitment to addressing food and drug safety problems, and PricewaterhouseCoopers says Asia-Pacific will be the new center for biopharma. More details...
