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WuXi PharmaTech Well Positioned to Continue Growing as Independent Company; Will Receive Breakup Fee of $30 million
Date:7/29/2010

SHANGHAI, July 29 /PRNewswire-Asia-FirstCall/ -- WuXi PharmaTech (Cayman) Inc. (NYSE: WX) announced today that its previously announced transaction with Charles River Laboratories International Inc. (NYSE: CRL) has been terminated by mutual agreement due to Charles River shareholder opposition. Under the terms of the termination agreement, WuXi will receive a breakup fee of $30 million.

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"WuXi's strategy has not changed. Our goal is, and has long been, to build a broad, integrated R&D service platform designed to help our customers improve the success of research and shorten the time of new product development," said Dr. Ge Li, Chairman and Chief Executive Officer. "While we are disappointed that this transaction could not be completed, WuXi remains well positioned to meet our customers' needs and to continue to grow and expand as a standalone company.'/>"/>

SOURCE WuXi PharmaTech (Cayman) Inc.
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