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WuXi AppTec Aiming To Relist Biologics Unit In Hong Kong IPO

 
• By Ying Huang

WuXi AppTec is planning to spin out its biologics CRO/CMO unit in a Hong Kong IPO that is likely to raise at least $367m, sources have confirmed. The new funding would provide the fast-growing Wuxi Biologics subsidiary with the freedom and resources to make its own pipeline portfolio decisions.

SHANGHAI - WuXi AppTec Inc., China’s largest contract research organization (CRO), contract manufacturing organization (CMO) and drug development services provider, is planning to re-list part of its business on the Hong Kong Stock Exchange this year after recently going private, sources familiar with the situation have confirmed.

The source, who asked not to be identified, told PharmAsia News that the company is likely to launch an initial...

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