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WuXi PharmaTech Announces Third-Quarter 2013 Results
Date:11/12/2013

the U.S. Food and Drug Administration of our commercial manufacturing facility in Jinshan for the production of an advanced intermediate for a product with an NDA under FDA review, without the issuance of a Form 483.

"Biologics is another area of current investment that will drive future revenue growth. We believe we have built the premier biologics drug discovery, development, and manufacturing business in China, and we expect it will be one of our fastest-growing businesses.

"Genomics is another area where WuXi is demonstrating leadership in China.  We recently received CLIA certification from the Centers for Medicare and Medicaid Services of the U.S. Department of Health and Human Services for our genomics clinical laboratory in Shanghai, the only laboratory in China to receive such certification. Receipt of a CLIA certificate allows WuXi's genomics laboratory to undertake certain clinical trial gene sequencing projects.

"These and other achievements demonstrate that we are succeeding in our mission of building an open-access technology and capability platform that enables anyone and any company to discover and develop therapeutic products to benefit patients," Dr. Li concluded.

Third-Quarter 2013 GAAP ResultsThird-quarter 2013 net revenues increased 16.6% year over year to $146.7 million. Revenue growth in Laboratory Services of 9.2% was driven by our comprehensive and integrated discovery and development services, primarily in China. Revenue growth of 43.6% in Manufacturing Services was caused by strong growth in demand in both research and commercial manufacturing compared to the third quarter of 2012.

Third-quarter 2013 GAAP gross profit increased 14.4% year over year to $52.7 million due to 16.6% revenue growth, offset by business mix, as the strongest revenue growth was achieved in Manufacturing Services, which has a lower gross margin than Laboratory Services.  Gross margin decreased year over year to 35.9% fr
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