Bristol-Myers Squibb Company (NYSE: BMY) and WuXi PharmaTech (NYSE: WX) today announced that they have entered a strategic partnership to conduct stability studies of small-molecule new chemical entities to support global marketing applications.
“This new agreement expands our already productive relationship with Bristol-Myers Squibb, a valued customer for many years”
Under the agreement, WuXi will build, equip and operate a dedicated, fully cGMP-compliant 25,000-square-foot analytical testing facility in Shanghai to store and test stability samples and to perform other services for Bristol-Myers Squibb. WuXi will also employ a dedicated staff for stability testing, sample management, analytical testing, pharmaceutical science, quality assurance, metrology, and other services, including stability data reporting in support of all global dossier submissions by Bristol-Myers Squibb.
"This new agreement expands our already productive relationship with Bristol-Myers Squibb, a valued customer for many years," said Ge Li, Ph.D., chairman and chief executive officer of WuXi PharmaTech. "We will continue to help them to improve their R&D productivity with our innovation-driven, cost-effective and fully integrated R&D service platform."
"WuXi PharmaTech is an important partner for Bristol-Myers Squibb's research and development organization," said Mark Powell, Ph.D., senior vice president, Non-Clinical Development, Bristol-Myers Squibb. "This agreement will expand the scope of our relationship with WuXi and enhance the presence of Bristol-Myers Squibb in China. It is also an example of our R&D organization executing our company's BioPharma model by using selective integration to leverage the strengths and talents of both Bristol-Myers Squibb and a valued partner."
New molecule promotes gut healing and suppresses tumor growth in colorectal cancer