WuXi PharmaTech Announces Fourth-Quarter and Full-Year 20...(rd we are investing in the expandedmanuf...)

Date:3/25/2009

rd, we are investing in the expanded manufacturing facility in Jinshan with the intent of opening it by the end of 2009. We expect this facility to generate significant revenues from commercial-scale manufacture of advanced intermediates and APIs for products in late-stage-development.

"With our highly capable work force, world-class facilities, and strong relationships with the world's leading life science companies, WuXi PharmaTech is well positioned with the capabilities and the strategy to drive longterm revenue and income growth," Dr. Li concluded.

Total Company - Versus Guidance

Total company(1) full-year 2008 net revenues of $261.8 million, which include $253.5 million from continuing operations and $8.3 million from discontinued operations, fell within the Company's net revenue guidance of $260-$265 million. Full-year 2008 adjusted EBITDA of $72.2 million fell within the Company's guidance of $70-$75 million.

Continuing Operations-GAAP Results

Fourth-quarter 2008 net revenues from continuing operations increased 74% to $64.4 million compared to fourth-quarter 2007, and full-year 2008 net revenues for continuing operations grew 87% year-over-year to $253.5 million. These performances reflected strong growth in our China-based businesses, which achieved net revenue growth of 33% in the fourth-quarter 2008 and 45% in full-year 2008. AppTec, which we acquired at the end of January 2008, contributed $15.1 million of net revenues in fourth-quarter 2008 and $57.7 million in full-year 2008, which excludes the biologics manufacturing operation classified as discontinued operations (see table titled Revenue Reconciliation by Geography below).

With the discontinuation of biologics manufacturing, we now define our Laboratory Services business as China-based Laboratory Services and all AppTec testing services, which consist of biopharmaceutical and medical dev
'/>"/>

SOURCE WuXi PharmaTech (Cayman) Inc. Copyright©2009 PR Newswire. All rights reserved

0 GOOD

Page: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Related biology technology :

1. The Fitzsimons Redevelopment Authority Selects Pharmatech Oncology as Preferred Vendor
2. Quest PharmaTech Announces Strategic Alliance with IntelligentNano to Develop Nanotechnology-Based Next Generation SL052
3. Quest PharmaTech Announces Results Showing its Photosensitizer, SL052, is an Effective Immuno-Stimulant when combined with Immunotherapy for the Removal of Solid Tumors
4. Quest PharmaTech Announces a Review of Strategic Alternatives to Enhance Shareholder Value
5. WuXi PharmaTech to Present at 27th Annual J.P. Morgan Healthcare Conference
6. Pharmatech 2.0: Introducing Pharmatech Oncology
7. WuXi PharmaTech Will Focus U.S. Operations on Laboratory Testing Services
8. WuXi PharmaTech Appoints Ying Han to Its Board of Directors
9. WuXi PharmaTech Announces Third Quarter 2008 Results
10. WuXi PharmaTech Signs New Collaboration Agreement With Pfizer
11. WuXi PharmaTech Schedules Third Quarter 2008 Earnings Release on Wednesday, November 12, 2008