LabNetwork, a new online trading network for the chemical industry, has exceeded its initial growth projections, says Brian Cobb, vice president of e-commerce at parent company WuXi AppTec.

Since launching in May, the global Internet portal has registered more than 200 chemical industry suppliers, making some 2.2 million products available to online buyers, Cobb says.

And there’s more to come soon, he adds. “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,” Cobb says.

“For researchers and chemists, LabNetwork provides sophisticated web and mobile tools that allow customers to search for compounds by either keyword or chemical structure, with intelligent ranking of results,” the   company says, adding: “Buyers can make informed decisions based upon cost, speed of delivery, and product quality. LabNetwork features multi-language and multi-currency shopping capabilities, including quotation, ordering, and tracking.”

LabNetwork also provides to suppliers that sell through its portal warehousing, logistics and international customs services. The trading network did not immediately respond to a request for information about the fees it charges.

LabNetwork is owned and operated by WuXi AppTec, a global company with offices in China and the United States that specializes in products and services for the pharmaceutical and medical device industries. WuXi AppTec is an operating division of WuXi PharmaTech Inc.

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