WuXi PharmaTech Announces Fourth-Quarter and Full-Year 20...(including a pre-tax impairment charge of...)

    2009 Financial Guidance
    The Company provided the following financial guidance for 2009:

    -- Total net revenues of $265-$275 million(2)
    -- Net revenue growth in China-based Laboratory Services of 15-20%
       compared to 2008 China-based Laboratory Services revenue
    -- Manufacturing Services net revenue lower than 2008 Manufacturing
       Services net revenue
    -- U.S. testing (AppTec) net revenue comparable to 2008 U.S. testing net
       revenue on a pro-forma basis(2)
    -- Non-GAAP gross profit and operating income lower than 2008 amounts in
       dollars and as percentages of net revenues as we invest in new
       capabilities and capacities
    -- Adjusted EBITDA (excluding share-based compensation charges and
       potential mark-to-market gains or losses from foreign currency forward
       contracts) relatively flat with 2008 adjusted EBITDA of $72 million
    -- Capital expenditures of $50-$60 million

Commenting on financial guidance, Edward Hu, chief operating officer and acting chief financial officer, said, "While WuXi PharmaTech is not immune from the impact of the global recession and the pressures being felt by our customers, we expect to achieve net revenue growth in 2009 while we invest in our future beyond 2009. Our targeted net revenues of $265 million to $275 million in 2009 compare with $258.5 million in 2008 from our continuing operations on a pro-forma basis(2). In a near-term operating environment of pharmaceutical industry consolidation and lower R&D spending growth, our core China-based Laboratory Services business is still expected to achieve 15-20% net revenue growth in 2009. Manufacturing Services net revenue is expected to be below 2008 levels due to the non-recurrence of a single large 2008 project and relatively uncertain project timing and mix. U.S. testing net revenue is expected to
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