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Financial Report: WuXi PharmaTech

Growth in the quarter was driven primarily by 28% growth in revenues for China-based Lab Services to $41.6 million, offset by an 81% decline in manufacturing services revenue.

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By: Tim Wright

Editor-in-Chief, Contract Pharma

WuXi PharmaTech 1Q

1Q Revenues: $59.1 million (+5%)

1Q Earnings: $23.3 million (-11%)

Comments: Growth in the quarter was driven primarily by 28% growth in revenues for China-based Lab Services to $41.6 million, offset by an 81% decline in manufacturing services revenue. Lab services revenue grew 33% to $56.5 million, driven by organic growth and the AppTec acquisition.

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