Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Equity Bottom-Up

WuXi PharmaTech Cayman / Equity Bottom-Up

WuXi's Founder, Chairman and CEO, Dr. Ge Li and private equity firm Ally Bridge have made a non-binding offer to take the company private for $46/ADS in cash. The bid values the company at roughly 17x 2014 EBITDA, which is at the upper end of the range of 11-17x trailing EBITDA for transactions in this space. We think that a competing bid is unlikely, and the valuation looks full. &nbsp;See the attached announcement and letter from Dr. Li for more details.&nbsp;

WuXi's Founder, Chairman and CEO, Dr. Ge Li and private equity firm Ally Bridge have made a non-binding offer to take the company private for $46/ADS in cash. The bid values the company at roughly 17x 2014 EBITDA, which is at the upper end of the range of 11-17x trailing EBITDA for transactions in this space. We think that a competing bid is unlikely, and the valuation looks full. &nbsp;See the attached announcement and letter from Dr. Li for more details.&nbsp;

WuXi's Chairman and Ally Bridge Offer $46/ADS in Going Private Bid

Life sciences R&amp;D spending growth in Asia is outpacing the developed world (US, Canada, and Europe). An article from the January 2, 2014, edition of the New England Journal of Medicine notes that during inflation-adjusted biomedical R&amp;D expenditures fell in the US and EU while increasing all across Asia during 2007-2012. Contract research organizations (CROs), which provide outsourced R&amp;D services to the life sciences industry, are vehicles for participating in this trend.The industry&rsquo;s leaders such as US-listed Quintiles, Covance, Pharmaceutical Product Development, PAREXEL International, and Charles River Laboratories have operated globally for years, but with relatively low exposure to Asia. Pure plays such as US-listed WuXi PharmaTech, Shenzhen-listed Hangzhou Tigermed Consulting, and soon-to-be listed Syngene International (in India) have more exposure to this secular shift.

Life sciences R&amp;D spending growth in Asia is outpacing the developed world (US, Canada, and Europe). An article from the January 2, 2014, edition of the New England Journal of Medicine notes that during inflation-adjusted biomedical R&amp;D expenditures fell in the US and EU while increasing all across Asia during 2007-2012. Contract research organizations (CROs), which provide outsourced R&amp;D services to the life sciences industry, are vehicles for participating in this trend.The industry&rsquo;s leaders such as US-listed Quintiles, Covance, Pharmaceutical Product Development, PAREXEL International, and Charles River Laboratories have operated globally for years, but with relatively low exposure to Asia. Pure plays such as US-listed WuXi PharmaTech, Shenzhen-listed Hangzhou Tigermed Consulting, and soon-to-be listed Syngene International (in India) have more exposure to this secular shift.

Increasing Opportunities in Emerging Market CROs

China

Hangzhou Tigermed Consulting Company Limited provides professional clinical research services for domestic and foreign pharmaceutical and health-related research and development. The Company's main services include clinical trial technology services, data management, and statistical analysis.

Hangzhou Tigermed Consulting (A) (300347 CH)

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Hangzhou Tigermed Consulting (A) (300347 CH)

WuXi's Chairman and Ally Bridge Offer $46/ADS in Going Private Bid

WuXi's Founder, Chairman and CEO, Dr. Ge Li and private equity firm Ally Bridge have made a non-binding offer to take the company private for...

Kemp Dolliver, CFA

Increasing Opportunities in Emerging Market CROs

Life sciences R&D spending growth in Asia is outpacing the developed world (US, Canada, and Europe). An article from the January 2, 2014,...

Kemp Dolliver, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)