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WuXi AppTec Pays $46.4 Million to Acquire 15% Stake in its STA Subsidiary

publication date: Apr 22, 2019

WuXi AppTec, China's largest CRO, will pay $46.4 million to acquire a 15% outstanding stake in its STA Pharma, WuXi's small molecule manufacturing division. In 2014, WuXi AppTec sold the shares to STA management and investors, and then listed STA on China's NEEQ, an over-the-counter exchange. It withdrew the listing last month. In 2017, WuXi AppTec merged STA into its small molecule R&D division so that clients would have a full complement of CRO/CDMO services available from a single company. More details....

Stock Symbols: (SHA: 603259; HK: 2359)

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