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WuXi PharmaTech Reports Higher Q3

publication date: Nov 16, 2009

WuXi PharmaTech (药明康德), a bellwether for China’s CRO industry, reported a modest increase in Q3 revenues, but clearly feels the worst of the economic downturn is in the past. Revenues move up 10% to $70 million, and net income (non-GAAP) was 33% higher at $17.6 million. The company reiterated its guidance for 2009 revenues while raising its estimate for 2009 adjusted EBITDA. China-based Laboratory Services division is the company’s best performing segment. More details..

Stock Symbol: (NYSE: WX)

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