|Forum - Stocks For A Different Jungle
||If it belongs at the Pit it doesn't belong here.|
|From: blacksheep (Rep: 328)||Date: 06/12/2018 07:30|
|Forum: Stocks For A Different Jungle - Msg #19156||Thread #674014627 (Rec: 0) |
|WUXI PICKS MASSACHUSETTS FOR FIRST U.S. MANUFACTURING SITE|
WuXi Biologics Inc. (HKSE:2269) said it will invest $60 million to construct a biologics production facility in Worcester, Mass. The manufacturing site will be WuXi Biologics' first in the U.S., and 11th overall.
The company plans to hire 150 employees at the site, where it will conduct clinical and small volume commercial production using single-use bioreactors. WuXi said the facility will be the first U.S. site with continuous bioprocessing capabilities, and will have an early stage bioprocess development lab.
Drawn primarily by scientific talent, Chinese biotechs are building beachheads in the Boston area to jump-start their push into novel drug development (see BioCentury, Sept. 29, 2017).
In addition to several China facilities, WuXi Biologics is constructing manufacturing sites in Singapore and Ireland.
WuXi Biologics raised HK$4 billion ($510 million) in a 2017 IPO (see BioCentury Extra, June 7, 2017).
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