Just months after taking the company private in a $3.3 billion deal, WuXi CEO Ge Li has begun setting the stage to spin out its rocketing biologics unit in an IPO that would value the business at $1.5 billion, according to a report from Bloomberg.
Based in Shanghai with facilities in the U.S., WuXi has achieved remarkably fast growth, emerging as the biggest contract research organization in China with extensive R&D and manufacturing ties throughout the world. In just the last few months the company has:
Bank of America and Morgan Stanley have been brought in to handle a Hong Kong share sale, Bloomberg reports, citing sources close to the deal. WuXi pulled out of the New York Stock Exchange on December 10.
Ge Li and his top executive crew have earned a reputation for fast-paced dealmaking that’s unprecedented in China’s growing biopharma business. And clearly they’re still in the early stages of wheeling and dealing with some of the biggest, and smallest, players in the global industry.
By John Carroll
Source: Fierce Biotech
Big Pharma has long seen the potential for AI and machine learning to accelerate drug development. But Novo Nordisk is going a step further by channeling $200 million toward the creation of a computer that will outrun anything in existence.
Current methods for diagnosing Alzheimer’s disease rely on a complex combination of self- and caregiver-reported symptoms, a physical examination and either a PET scan or a spinal tap to look for evidence of amyloid plaque build-ups in the brain. But a new artificial intelligence-based method may make the diagnostic process a much more objective one.
There is lots of talk about diversity and inclusion in business, including in pharma and medtech. A new report by the Open Political Economy Network (OPEN), a think tank focusing on migration and diversity, released its “Minority Businesses Matter: Europe” report highlighting the successes and challenges of ethnic minority-owned businesses in Europe.
