Shanghai-Based Pharma Business Breaks Ground On Delaware Facility #ShanghaiBased #Pharma #Business #Breaks #Ground #Delaware #Facility Welcome to GistFeed
WuXi AppTec Chairman Ge Li, back in 2008. Photographer: Ariana Lindquist/Bloomberg News
Ariana Lindquist 2008
WuXi STA, a contract research, development, and manufacturing service provider to the pharmaceutical industry, has broken ground on a 190-acre pharmaceutical manufacturing campus in Middletown, Delaware, the company said on Tuesday.
First announced in June 2021, the site is WuXi STA’s second facility in the United States. WuXi STA is subsidiary of Hong Kong- and Shanghai-listed WuXi AppTec, which is led by Chinese-American billionaire Ge Li. WuXi AppTec is headquartered in Shanghai.
The new facility will create approximately 500 full-time jobs by 2026, the company said in a statement. The investment amount wasn’t disclosed. WuXi STA has a total of 12 sites across the U.S., Europe and Asia.
The investment comes amid heightened geopolitical strains between Washington and Beijing over the recent visit of U.S. House of Representative Speaker Nancy Pelosi to Taiwan. The U.S. and China are nevertheless two of the world’s largest trade and investment partners.
Delaware Governor John Carney, Lieutenant Governor Bethany Hall-Long, Mayor Kenneth Branner, Jr., Delaware Prosperity Partnership President Kurt Foreman, WuXi AppTec Chairman and CEO Dr. Ge Li, WuXi AppTec Co-CEO and WuXi STA CEO Dr. Minzhang Chen, and others attended the groundbreaking, the statement said.
Li is worth an estimated $8.3 billion on the Forbes Real-Time Billionaires List today.
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