Home » Regions » Asia » WuXi Revenues Up 87% in 2008

WuXi Revenues Up 87% in 2008

Thursday, March 26, 2009

Chinese contract research organization (CRO) WuXi Pharmatech reported an 87% increase in 2008 revenues compared with 2007, with net revenues for continuing operations of $253.5 million. Fourth-quarter 2008 net revenues from continuing operations increased 74% to $64.4 million compared with fourth quarter 2007. The CRO’s non-GAAP net income for 2008 was $58.3 million, up 31% from $44.6 million in 2007.

WuXi’s 2008 financials reflect the January 2008 acquisition of AppTec, which contributed $57.7 million in revenues for full-year 2008.

“2008 was a year of extraordinary economic challenges, both in the worldwide economy and the healthcare industry,” said Dr. Ge Li, WuXi Chairman and  CEO, in a company statement. “At the same time, it was a year of substantial accomplishment for our company.”

Looking for more news, check out the new FREE CenterWatch Weekly!

The new FREE CenterWatch Weekly is your source of critical news, emerging trends, and business issues around everything in the rapidly changing clinical research marketplace. Check out our new CWWeekly page! Sign up today for your free email newsletter, update your bookmarks and check us out regularly! We look forward to bringing you the best news and information about clinical research in 2018!