WuXi PharmaTech Announces Third Quarter 20...( Third Quarter Net Revenues Up 98% and...)

Third Quarter Net Revenues Up 98% and Adjusted EBITDA Up 70% Year-Over-Year

SHANGHAI, China, Nov. 12 /Xinhua-PRNewswire/ -- WuXi PharmaTech (Cayman) Inc. (NYSE: WX), a leading pharmaceutical, biotechnology and medical device research and development outsourcing company with operations in China and the United States, today announced its unaudited financial results for the third quarter ended September 30, 2008. During the quarter, WuXi's net revenue increased 98% year-over-year to $67.5 million, and diluted earnings per ADS were $0.10.

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Commenting on the third quarter 2008 results, Dr. Ge Li, Chairman and Chief Executive Officer of WuXi PharmaTech, said, "WuXi continues to deliver strong revenue and profitability growth, as reflected in 98% year-over-year top-line revenue and 70% adjusted EBITDA growth. As we disclosed in the pre- announcement, the constricted biotech financing environment is impacting the CRO industry. However, we believe the need for outsourced development and manufacturing services will continue to be robust in the longer term. WuXi will continually work with WuXi's customers to bring their programs from bench to the market sooner and less costly.

"We are dedicated to maintaining and expanding WuXi's preferred provider status with our customers. In addition to delivering high-quality, IP- protected services efficiently, we will continue to position WuXi for the future to improve the success of discovery and shorten development time for our customers. This commitment requires us to expand WuXi's capacity and capabilities to meet our customers' expanding
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