« Return to News | CROs/Service Providers

WuXi Reports 36% Revenue Growth, Prepares for Sale to Charles River

Wednesday, May 12, 2010 07:07 AM

Chinese contract research organization WuXi Pharmatech reported 36% revenue growth in what may be one of the company’s last quarterly earnings statements if an acquisition by Charles River Laboratories goes through.

The company’s revenues increased to $80.6 million in Q1, due to growth in laboratory services and manufacturing services. First-quarter 2010 net income grew 32% to $15.5 million. Diluted earnings per share were up 30% to $0.21.

Charles River Labs announced last month plans to acquire WuXi for $1.6 billion in a deal expected to be finalized at the end of the year.

"As we prepare to combine our operations with those of Charles River Laboratories, we remain focused on providing the highest level of service to our customers," said WuXi CEO Dr. Ge Li. "We continue to believe that trends toward greater outsourcing and offshoring of pharmaceutical, biotechnology, and medical device research and development will continue for years to come, and that our company is positioned well to benefit from these trends."

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

September 30

Novartis-Walgreens pilot study blurring the line between retail pharmacy, investigative site

CISCRP to launch traveling science museum exhibit to demystify clinical trial participation

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

October

New growth and decline in Asia clinical trials
South Korea, Japan, China see big growth in 1572s, while India posts huge drop

Harnessing Big Data to transform clinical trials
From protocol to patient recruiting, data analytics can yield valuable insights

Already a subscriber?
Log in to your digital subscription.

Purchase the October issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

September

Sponsors look to collaborate on comparator drugs
Co-therapies, comparators are in 60% of studies, cost $25m per company a year

Early adopters implement risk-based monitoring pilot programs
Experiments aim to offer long-term solutions, despite short-term uncertainties

Already a subscriber?
Log in to your digital subscription.

Purchase the September issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs

More Jobs

 

Copyright © 1995-2013 CenterWatch.