WuXi PharmaTech (Cayman), Inc. (ADR) (NYSE:WX)
CAPS Rating:
China-based pharmaceutical and biotechnology R&D outsourcing company which provides a integrated portfolio of laboratory and manufacturing services in the drug discovery and development process to pharmaceutical and biotechnology companies.
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I like the CRO business (contract research...not drug development, as some seem to think) as a secular trend, and WuXi is the lower-cost Chinese solution. Perhaps not the greatest business moat, but at this price, I'll take the risk.