WuXi PharmaTech to Discontinue US Biologics Manufacturing Operations
WuXi PharmaTech Inc. (Shanghai, China) will discontinue its US biologics manufacturing operations as of December 31, 2008.
WuXi PharmaTech Inc. (Shanghai, China) will discontinue its US biologics manufacturing operations as of December 31, 2008. WuXi will then dedicate its Philadelphia, PA, facility to the company’s biologics testing, cell banking, and cell therapy services. Approximately 100 biologics manufacturing and supporting positions at the Philadelphia facility will be eliminated through workforce reduction and employee attrition.
Through this move, WuXi expects to record cash restructuring charges, estimated to total approximately $2.5 to $3.5 million, consisting primarily of severance and other employee-related charges to be payable over the next few months; and non-cash charges for impairment of certain fixed and intangible assets, including goodwill. WuXi is currently working with external consultants to determine an estimate for the non-cash impairment charges as a result of the restructuring.
The Solution Lies with SOLBIOTE™: Achieving Sustainability, a Growing Focus in Biopharma
October 28th 2024The nexus between biopharmaceuticals and sustainability is seemingly far apart, however, it is increasingly recognized as an inevitable challenge. It is encouraged to take a sustainable approach to reducing the environmental impact of the production and supply of medicines while improving people's health; delivering the well-being of people and the planet. Yosuke Shimojo (Technical Value Support Section Manager, Nagase Viita) will unveil how SOLBIOTE™, a portfolio of injectable-grade saccharide excipients, would be a key for the biopharmaceutical development and achieving sustainability for a better future of the industry.
