The flagship pharmaceutical CRO in China, Wuxi Pharmatechs, recently was selected by <Fast Company> as the #8 most innovative company in the world. It was ranked alone with companies such as Google and Apple, as well as the Obama Team.
<Fast Company> did not give clear reasons why a CRO compnay was nominated for innovation. But it does mention at the end that Wuxi Pharm would become a serious competitor to its curently customers such as Pfizer. If that turned to be true, it would mean a fundamental transformation of business model for Wuxi Pharmatechs from a CRO to a pharmaceutical company.
Starting from only a short 8 years ago, Wuxi Pharm is now the largest and most reputable CRO in China and possibly the largest in Asian. I had personally have the opportunity to know the funder soon after the company was formed. In one occasion, he asked me if I think Wuxi Pharmatech would be ever successful. My answer to him was that SOMEONE would make it a successful business, because the whole world needs the service and China is the right place for such business. It did not take long for Dr Ge Li proved to us that he was THE One.
It will not surprise me if Wuxi Pharmatech one day makes such transformation. I have all my confidence in the vision and management skil of the funder himself and the team. If such time comes and condition matures, they will not be reluctant to take the step. Afterall, Wuxi Pharmtech is indeed an innovative one!