On December 16, 2025, WuXi AppTec announced the successful sale of its China clinical research services business to Hillhouse Investment (“Hillhouse”), a private equity investment firm. The transaction documents were signed on October 24, 2025. The transaction consideration is approximately CNY 2.8 billion, representing the base equity transfer price, subject to adjustment in accordance with the terms and conditions set out in the transaction agreements. The divested entities included Shanghai WuXi Hongyi Clinical Research Co., Ltd. and Shanghai WuXi Medkey Pharmaceutical Technology Co., Ltd. This transaction was implemented as part of WuXi AppTec’s strategic focus on its CRDMO business model, with continued emphasis on drug discovery, laboratory testing, process development, and manufacturing services. The transaction is expected to provide financial support for WuXi AppTec to accelerate its global capacity deployment.
WuXi AppTec is a trusted partner and a key contributor to the global pharmaceutical and life sciences industry. It is committed to advancing healthcare innovation worldwide by providing integrated, end-to-end drug discovery, development, and manufacturing services.
Fangda provided “full-stack” PRC legal services to WuXi AppTec in this transaction, including structuring and preparing the transaction, drafting and negotiating transaction documents, preparing listed company disclosure announcements, reviewing merger control filing materials, and assisting with the transaction closing. The Fangda team was led by partners Huang Chao and Huo Wanhua. Key team members included counsel Wang Kai, Yvonne Gan and Ellyn Ai, and associates Hale Lu, Hu Yanhui, Wu Siling and Zhang Xiu. Antitrust partner Caroline Huang and associate Liu Jinghan also provided support on this transaction.