WuXi AppTec, a leading Chinese innovative drug company, has completed the sale of its China clinical research services business to Hillhouse Investment. Fangda Partners, Wilson Sonsini and Haiwen & Partners advised on the transaction.
The deal involved two Shanghai-based subsidiaries of WuXi AppTec — WuXi Clinical and WuXi MedKey — and was completed on 16 December for a consideration of around RMB2.8 billion (USD400.65 million).
The transaction is expected to generate RMB960 million in after-tax net profit for WuXi AppTec, which is listed on both the A-share and Hong Kong markets. The company said the proceeds would support its global expansion and development.
Fangda advised WuXi AppTec on PRC law, including transaction preparation, listed company disclosures, review of merger control filings and assistance with closing. Partners Huang Chao and Huo Wanhua led the team, with antitrust partner Caroline Huang also involved. Wilson Sonsini provided international legal advice, with a team led by partners Chen Weiheng, Chu Yang, Zhu Jie and Dong Xuchao.
On the buyer side, Haiwen advised Hillhouse Investment, with partner Xu Guochuang leading the team.
As part of a strategy to sharpen its focus on core businesses, WuXi AppTec has recently divested several non-core healthcare assets. In December 2024, it sold all equity interests in WuXi ATU in the US and Oxford Genetics in the UK to Altaris. In January 2025, it sold two medical device testing facilities in Atlanta, Georgia, and St Paul, Minnesota, to NAMSA, a leading global medical technology services provider.
