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WuXi PharmaTech Raises $80 Million for Manufacturing Subsidiary

publication date: Jul 10, 2015
WuXi PharmaTech, a China-US CRO/CMO, announced its SynTheAll Pharma subsidiary, a small-molecule manufacturing company will raise $80 million through a private placement of 6% of its shares. The financing values SynTheAll at $1.3 billion. In April 2015, WuXi completed a listing of the subsidiary on China's Third Board, a two-year old electronic OTC exchange. WuXi, which pointed out that STA does not include WuXi's biologic drug manufacturing operations, continues to hold an 89% stake in STA, worth about $1.16 billion. More details....

Stock Symbol: (NYSE: WX)

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