Research and development firm WuXi PharmaTech (Cayman) has signed a definitive merger agreement with New WuXi Life Science and its wholly owned subsidiary WuXi Merger.

Under the deal, WuXi Life Science will acquire WuXi PharmaTech for around $3.3bn in aggregate cash consideration.

WuXi PharmaTech will receive 5.75 per ordinary share and 46 per American depository share (ADS ), representing a 16.5% premium over the closing price of $39.50 per ADS as quoted by the New York Stock Exchange on 29 April.

"WuXi PharmaTech will receive 5.75 per ordinary share and 46 per American depository share."

WuXi Life Science will be owned by a consortium, which comprises affiliates or funds managed or advised by Ally Bridge Group after the consummation of the transactions contemplated by the merger agreement.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

WuXi PharmaTech is an open-access R&D capability and technology platform company that provides services to the pharmaceutical, biotechnology and medical device industries.

See Also:

The firm offers a broad and integrated portfolio of laboratory and manufacturing services across the drug and medical device R&D process.

WuXi has designed the services to enable its global partners in reducing the cycle and lowering the cost of drug and medical device R&D.

The company is also developing a platform to offer clinical diagnostic services directly to physicians and their patients across the globe.

With operations in China and the US, WuXi PharmaTech includes operating subsidiaries in the name of WuXi AppTec.

Subject to shareholder approval and certain other customary closing conditions, the deal is expected to complete in the fourth quarter of this year.