SHANGHAI -- WuXi PharmaTech (Cayman) Inc. (NYSE: WX), a leading pharmaceutical, biotechnology, and medical device R&D services company with operations in China and the United States, today announced that Dr.Steve Yang has joined the company as Executive Vice President and Chief Operating Officer. Edward Hu will assume new responsibilities as Chief Investment Officer and remain as Chief Financial Officer.
Dr. Yang is a pharmaceutical industry leader recognized for building R&D capabilities, delivering research and early development portfolios of drug candidates, and establishing R&D partnerships in China and other Asian and emerging markets. Before joining WuXi, Dr. Yang was Vice President and Head of Asia and Emerging Markets iMed at AstraZeneca, based in Shanghai. He and his team transformed the mission of AstraZeneca Innovation Center China, delivered AstraZeneca's first preclinical drug candidate discovered in China, strengthened translational science capabilities, established research outsourcing strategic partnerships, and facilitated and managed a series of scientific collaborations in China, Russia, Israel, Taiwan, and Korea.
Previously, Dr. Yang served as Vice President and Head of Asia R&D at Pfizer based in Shanghai, and as Executive Director and head of Pfizer's global R&D strategic management group based in the United States. Before joining Pfizer, Dr. Yang held a number of leadership positions at IntraBiotics Pharmaceuticals, a U.S.-based biotech company. He also worked for Strategic Decisions Group, a strategy consulting firm for Fortune 100 companies. He co-founded the BayHelix Group, a non-profit global professional organization of Chinese life science business leaders, and served as Chairman for two terms.
The Company also announced that Edward Hu will serve as the new Chief Investment Officer in addition to his current role as Chief Financial Officer. Mr. Hu will be responsible for companywide investments, including strategic investments in new businesses, corporate venture capital investments, mergers and acquisitions, and joint ventures. He has served as the Company's Chief Operating Officer since January 2008 and as Chief Financial Officer since February 2009. He spearheaded efforts to build many of the company's new businesses, including biologics, toxicology, genomics, and clinical trial services in China. He led the acquisition and integration of AppTec, Abgent, and MedKey. He also created and has managed WuXi's joint ventures with MedImmune to co-develop an innovative biologics product in China, and with PRA to create a clinical CRO in China that meets the highest international standards.
"I'm very pleased that Steve has joined WuXi as our Chief Operating Officer, and that Ed will assume additional responsibilities as our Chief Investment Officer," said Dr. Ge Li, Chairman and Chief Executive Officer of WuXi PharmaTech. "It is heroic efforts of leaders like Ed, with determination to build the best technology, science and capability platform to serve our customers, that have brought WuXi to where we are today. I am thrilled to have the opportunity to work with Ed, Steve, our WuXi leadership team and all of our WuXi colleagues to continue our mission to build the best R&D platform to enable anyone and any company to discover and develop healthcare products to benefit patients."
About WuXi PharmaTech
WuXi PharmaTech (NYSE: WX) is a leading pharmaceutical, biotechnology, and medical device R&D outsourcing company, with operations in China and the United States. As a research-driven and customer-focused company, WuXi PharmaTech provides pharmaceutical, biotechnology and medical device companies with a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi PharmaTech's services are designed to help its global partners in shortening the cycle and lowering the cost of drug and medical device R&D. The operating subsidiaries of WuXi PharmaTech are known as WuXi AppTec.
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