China's factories churn out inexpensive water pumps, photovoltaic solar cells and knockoff iPods. But its research labs could also discover the next generation of lifesaving drugs and mass-produce them in quantity. That's the hope behind WuXi PharmaTech (WX) . The Shanghai company is China's largest contract research organization, or CRO. It provides drug discovery and analytics to the global pharma and biotech industries. As the largest and most