"Improving R&D productivity is the most important challenge facing the world's pharmaceutical, biotech, and medical device companies. Outsourcing and offshoring enable these companies to obtain high-quality R&D services to advance compounds faster and at lower cost. As a leader in providing customers with high-quality outsourced R&D services, WuXi has been building a broad platform of fully integrated, cost-effective drug discovery and development services with the mission of helping our partners to improve the success of discovery and shorten the time of development. We expect that trends favoring greater R&D outsourcing and offshoring and greater use of integrated services will expand over the next decade, and that WuXi and its partners will both benefit from this trend," Dr. Li concluded.
(1) Refer to Reconciliation of GAAP to Non-GAAP and Use of Non-GAAP Financial Measures included in this release.
GAAP Results -- Fourth-Quarter 2009
Fourth-quarter 2009 net revenues increased 15% year over year to $73.9
million due to 18% growth in Laboratory Services net revenues, partially
offset by a 10% decline in Manufacturing Services net revenues. Revenue
growth was strong in both discovery chemistry and newer laboratory services,
such as discovery biology, DMPK/ADM
|SOURCE WuXi PharmaTech (Cayman) Inc.|
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