SHANGHAI, China, June 8 /Xinhau-PRNewswire/ -- Today Sundia Meditech
Company, Ltd. celebrated its recent strong growth at the company's third
anniversary party in Shanghai. The main business of this company is to
provide contracted research (CRO) services to pharmaceutical and biotech
company clients worldwide. Earlier this week, the company announced a merger
in process with United Pharmatech Company, another CRO company in Shanghai.
The centerpiece of the event was a speech by Sundia CEO Dr. Wang Xioachuan.
Her presentation laid out Sundia's past and stressed the need for continued
expansion. Last year, Sundia's revenue grew more than 5 times over the year
before, and became profitable the whole year, recovering all losses from the
company's initial stage. This year the company is expecting to more than
double its revenue and profit (excluding merger impact) and will keep the same
growth pace for the next three years. This fast development pace excited all
shareholders, including the famous venture capital investment company IDG VC,
who made an investment into Sundia in the very early stages of the company in
2005.
Sundia has more than doubled its lab and office space each year for all
three years of its history, and Dr. Wang presented a plan for the construction
of new buildings, including a pilot plant for API (Active Pharmaceutical
Ingredient) manufacturing at one of five possible new locations. These
proposed expansions for Sundia could take the company as far away as Nanjing,
about 400 km away from Shanghai, or remain as close as the newly-developed
east section of Zhangjiang HiTech Park, where the company was established
three years ago.
"We're happy to see what progress Sundia has made from when we started
with just three employees," said Dr. Wang. In her presentation, she stressed
that Sundia would succeed based on the trust they had built with their clients,
over 80% of whom work with Sundia on a full time equivalent (FTE) basis, a
good indicator for the operating stability and quality of a CRO company.
Mr. Ye Qianjun, Vice President of Zhangjiang Group Company, the
government-backed entity which developed Zhangjiang HiTech Park into China's
best high-tech park and the number one high-tech company incubator, called on
Sundia shareholders and employees to seriously consider his invitation to stay
in Zhangjiang, although other development areas in the country offered Sundia
more incentives in land usage, tax benefits and such. "We will try our best
to help Sundia in many ways. We saw your start-up in Zhangjiang, we saw your
growing up in Zhangjiang, and we want to see your growing into a giant and we
want to succeed together with you in Zhangjiang," Mr. Ye said emotionally.
Dr. Chen Liqing, a faculty member of University of Alabama in Huntsville,
who came to Shanghai specifically for the event, told the audience the story
about how he mortgaged his house in America to invest in Sundia when the
company was just half a year old and with an unclear future ahead. "This may
be the best decision I made in my lifetime. Thank God I don't have to worry
about living in the street now," he laughingly joked.
