SHANGHAI, China, May 6 /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, announced today that it has postponed its proposed underwritten follow-on public offering.
''In light of market conditions and the current trading price for our ADSs, our board has determined it is in the best interest of our shareholders to postpone the offering,'' said Dr. Ge Li, Chairman and CEO of WuXi PharmaTech.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. A copy of the registration statement for this offering may be obtained at http://www.sec.gov . These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
About WuXi PharmaTech
WuXi PharmaTech is a leading pharmaceutical, biotechnology and medical
device R&D outsourcing company, with operations in China and the United
States. As a research-driven and customer-focused company, WuXi PharmaTech
provides pharmaceutical, biotechnology and medical device companies a broad
and integrated portfolio of laboratory and manufacturing services
throughout the drug and medical device R&D process. WuXi PharmaTech's
services are designed to assist its global partners in shortening the cycle
and lowering the cost of drug and medical device R&D. For more information,
|SOURCE WuXi PharmaTech (Cayman) Inc.|
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