WuXi PharmaTech Acquires XenoBiotic LaboratoriesBy
WuXi PharmaTech(Cayman) Inc., a pharmaceutical, biotechnology, and medical device research and development outsourcing company with operations in China and the United States, has acquired XenoBiotic Laboratories, Inc. (XBL), a contract research organization specializing in bioanalytical, drug metabolism, and pharmacokinetic services. Financial terms were not disclosed. The transaction closed on September 30, 2014, and is expected to be neutral to WuXi's 2014 diluted EPS and accretive to WuXi's 2015 diluted EPS on a non-GAAP basis.
The acquisition bolsters WuXi's Laboratory Testing Division (LTD) in bioanalytical and DMPK/ADME services, particularly in studies of radio-labeled compounds,while gaining access to new agricultural and animal health customers. The resulting expansion and enhancement of WuXi's integrated service portfolio will accelerate the growth of LTD's business and further strengthen WuXi's position as a leading research and development service provider to the pharmaceutical and biotech industries. This acquisition expands LTD's presence in North America, provides greater flexibility in service and support options for our North American customers, and presents the opportunity for further expansion.
XBL has 150 employees and operates a 45,000-square-foot research center in Plainsboro, New Jersey, and a 36,000-square-foot facility in Nanjing, China. The company is FDA- and USDA-registered, New Jersey-licensed for work with radioisotopes, USDEA-licensed for conducting research with Schedule 1-5 controlled substances, and AAALAC-accredited.
Source: WuXi PharmaTech