LabNetwork Exceeds Growth Expectations

- WuXi AppTec's global eCommerce platformprojects more than 300 suppliers and 3 million products will be available on the site by year-end SOUTH PORTLAND, Maine, Dec. 1, 2015 /PRNewswire/ -- LabNetwork, WuXi AppTec's new global eCommerce platform for sourcing research compounds, has surpassed growth projections, reaching 2.2 million products and more than 200 suppliers since its launch in May. Logo - http://photos.prnewswire.com/prnh/20151130/291741LOGO "On top of the growth we've experienced to date, we expect another 100 suppliers and nearly a million more products will be on board by the end of 2015," said Brian Cobb, vice president of eCommerce at WuXi AppTec. LabNetwork provides customers access to a comprehensive selection of respected international suppliers of research compounds, including WuXi AppTec. LabNetwork is the first website to offer products from hundreds of emerging chemical suppliers, with supply chain transparency, and full transactional and delivery capabilities. "Transparency is critical in this industry, particularly for biopharmaceutical product development, and is significant to our company's differentiating capabilities," said Cobb. "The visibility demands of agencies such as the USFDA on raw material sources place a premium on suppliers who can trace chemicals to the country and manufacturer of origin. Our model provides precise tracking and documentation for most compounds ordered through the site, bringing visibility in a way that is simple for customers." Other evidence of LabNetwork's unique model is in its logistics solutions. The company acts as the importer of record and provides order consolidation, tracking, Globally Harmonized System (GHS) labeling and documentation for importing compounds, removing that burden from customers. "By removing the headaches of compound sourcing, such as language, currency, importation, compliance and quality, LabNetwork gives customers more time to innovate," added Cobb. "Our model will drastically improve the way researchers access chemicals and, in turn, help the industry move forward." For more on LabNetwork, please visit www.labnetwork.com. For more on WuXi AppTec, please visit www.wuxiapptec.com.