WuXi Pharma Tech (NYSE: WX) is a pharmaceutical R&D service company based in Shanghai, and they do work for the pharma giants like Pfizer, Merck, etc. They are the No. 1 player in China and growing fast.
To give some background, here is a discussion thread from trader168.com; and a valuation analysis article from Yahoo (ChinaBio Today).
I’m not in the pharma business but from my observation, pharma R&D outsourcing is a sweet area because of the following trend.