WuXi PharmaTech Announces Second Quarter 20... (

WuXi PharmaTech Announces Second Quarter 2007 Results

Date:9/5/2007

- Net Revenues Up 99% Year-Over-Year

SHANGHAI, China, Sept. 5 /Xinhua-PRNewswire/ -- WuXi PharmaTech (Cayman) Inc. (NYSE: WX) ("WuXi PharmaTech" or "the Company"), the leading China-based pharmaceutical and biotechnology research and development outsourcing company, today announced its unaudited financial results for the second quarter ended June 30, 2007.

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

Second Quarter 2007 Highlights:

-- Total net revenues increased 99.3% over the second quarter of 2006 to

US$30.2 million.

-- Net income increased 482.1% over the second quarter of 2006 to US$7.1

million.

-- Diluted earnings per American Depositary Share ("ADS") for the second

quarter of 2007 was US$0.11. Diluted earnings per ADS excluding share-

based compensation expenses (non-GAAP) for the second quarter of 2007

was US$0.13.

"During the second quarter of 2007, we experienced strong revenue and earnings growth compared to the same period last year," said Dr. Ge Li, Chairman and Chief Executive Officer of WuXi PharmaTech. "We achieved solid growth throughout our business divisions, with revenue from laboratory services up 102.1% and revenue from research manufacturing up 86.8%. In the second quarter of 2007, laboratory services remained the major revenue contributor, accounting for 83.1% of our total net revenues, with research manufacturing accounting for the remainder. Our strong revenue growth was driven by the robust demand for drug R&D outsourcing services that we provide, and was a direct result of our ability
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SOURCE WuXi PharmaTech (Cayman) Inc.
Copyright©2007 PR Newswire.
All rights reserved

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WuXi PharmaTech Announces Second Quarter 20...( - Net Revenues Up...)