NEW YORK (AP) -- WuXi PharmaTech will perform stability studies of Bristol-Myers Squibb Co. drug candidates as part of a new partnership the two companies announced on Monday.
The companies said WuXi, a Chinese pharmaceutical outsourcing company, will build a testing facility in Shanghai and store and test stability samples. The studies can provide data on how the drugs are affected by conditions like varying temperatures, humidity, and light, and to establish the drug's shelf life and recommended conditions for storage. Pharmaceutical companies are required to perform tests of a drug's stability as part of their applications for marketing approval.
The companies said WuXi will perform analytical testing and other services for New York-based Bristol-Myers, one of the world's largest drugmakers in terms of revenue. They did not disclose financial terms.
Bristol-Myers Squibb shares rose 5 cents to $26.48 in morning trading, while shares of WuXi declined 15 cents to $15.75.
The companies said WuXi, a Chinese pharmaceutical outsourcing company, will build a testing facility in Shanghai and store and test stability samples. The studies can provide data on how the drugs are affected by conditions like varying temperatures, humidity, and light, and to establish the drug's shelf life and recommended conditions for storage. Pharmaceutical companies are required to perform tests of a drug's stability as part of their applications for marketing approval.
The companies said WuXi will perform analytical testing and other services for New York-based Bristol-Myers, one of the world's largest drugmakers in terms of revenue. They did not disclose financial terms.
Bristol-Myers Squibb shares rose 5 cents to $26.48 in morning trading, while shares of WuXi declined 15 cents to $15.75.