WuXi PharmaTech and PRA have signed a joint venture agreement to offer Phase I-IV clinical trial services in China, Hong Kong and Macau. The JV will provide clinical trial monitoring, project management, regulatory strategy and submissions, data management, biostatistics, drug safety reporting, and medical monitoring. WuXi and PRA will combine their clinical operations in China to operate as an independent CRO and will be jointly owned by their respective parent companies.
WuXi will contribute clinical and regulatory experience as well as lab services through a preferred provider arrangement. PRA will offer its global Resources and clinical research expertise, and will support the venture with its China-based staff and global technology capabilities.
"We are delighted to partner with PRA to build the leading clinical trial services operation in China," said Dr. Ge Li, chairman and chief executive officer of WuXi PharmaTech. "China’s pharmaceutical market today is the third largest in the world and growing very rapidly. We aim to become the clinical trial service provider of choice in China with the highest quality standards and operational excellence.”
"PRA’s global experience and technical expertise and WuXi’s operational experience and knowledge in China are a perfect fit," said Colin Shannon, president and chief executive officer of PRA. "Our companies also share a culture dedicated to delivering excellent customer service, valuing employees and meeting the highest standards of quality. Clinical trials continue to expand in China, and this joint venture is another step we are taking to meet the needs of our clients by establishing a strong presence there. We look forward to working with WuXi to serve global life science companies conducting studies in China."