WuXi PharmaTech (NYSE:WX) Maintains Original Strategy to Provide Toxicology Service... ( SHANGHAI China Sept. 29 /Xinhua--...)

WuXi PharmaTech (NYSE:WX) Maintains Original Strategy to Provide Toxicology Services in China

Date:9/29/2008

SHANGHAI, China, Sept. 29 /Xinhua-PRNewswire/ -- WuXi PharmaTech (NYSE: WX), a leading pharmaceutical, biotechnology and medical device research and development outsourcing company with operations in China and the United States, announced today that it will no longer pursue a 50-50 joint venture with Covance Inc. WuXi will maintain its original plan to construct, own and operate a 323,450 square foot GLP facility in Suzhou, China which is slated to open in the second half of 2009. WuXi plans to offer a full-range of preclinical services and GLP toxicology capabilities at this facility, helping WuXi clients to improve the success of discovery and shorten the time of development.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040705/CNM002LOGO )

"We are committed to offering world-class preclinical toxicology services in China to global customers and committed to delivering this in the way which most benefits our customers and shareholders in longer term," said Dr. Ge Li, WuXi Chairman and Chief Executive Officer. "This facility is being built through our already budgeted capital expenditures and we will not require additional funding. We can leverage the expertise and capability from our AppTec acquisition as well as our US toxicology team to move rapidly in getting GLP compliance. Proceeding with our original plans to operate this facility independently will allow WuXi and our shareholders to receive maximum benefit over the long term."

About WuXi PharmaTech

WuXi PharmaTech is a leading pharmaceutical, biotechnology and medical device R&D outsourcing company, with operations in China and the United States. As a research-driven and customer-focused company, WuXi PharmaTech provides pharmaceutical, biotechnology and medical device companies a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R
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WuXi PharmaTech (NYSE:WX) Maintains Original Strategy to Provide Toxicology Service...( SHANGHAI China Sept. 29 /Xinhua--...)