A Chinese pharmaceutical firm, which has a joint venture with Mayo Clinicand a lab in the One Discovery Squarecomplex, reported revenues of $1.8 billion for 2019 and is now ramping back up as the COVID-19 pandemic slows in China.
WuXi AppTec, China's largest pharmaceutical contract research organization, announced that 96 percent of its employees had returned to work at its various sites by March, according to an article in "Chemical & Engineering News."
That percentage includes workers returning to a research center based in Wuhan, where the COVID-19 pandemic began.
In a press release, WuXi CEO Ge Liestimated that the pandemic will only delay the company's projects by about two to three weeks.
The "Chemical & Engineering News" articleby Hepeng Jiaalso reported that WuXi announced on March 23 that its 2019 revenues skyrocketed up to $1.8 billion, more than third more than the previous year. It also signed up 1,200 new customers in 2019.
How the pandemic and its aftermath will affect the Mayo Clinic/WuXi joint venture called WuXi Diagnosticsis unclear as it is with most businesses.
Shanghai-based WuXi AppTec Group and Mayo Clinic launched the collaboration in early 2018 to focus "... on the development of advanced diagnostic technologies to create a world-leading clinical special diagnostic platform and integrated research and development of clinical diagnostic reagents and products platform, establish a comprehensive large-scale clinical testing data center, and empower Chinese medical institutions," according to a description by WuXi.
The new joint venture soon won the 2018 MedTech Insight Award for the Best Partnership/Alliance at the MedTech Conference, "a premier annual gathering for the medical technology industry."
This collaboration includes a "research and diagnostic testing development facility" in Rochester's One Discovery Square complex on the corner of Fourth Street and Second Avenue Southwest.
WuXi Diagnostics' offices and labs occupy a 3,008-square-foot spot on the third floor of the One Discovery Square complex. In 2019, the plan was to eventually have 12 WuXi employees working at the Rochester site.
The goal of the Mayo/WuXi facility is ... "to accelerate esoteric diagnostic product development, and bring more personalized and accurate clinical diagnosis services for global patients."