WuXi PharmaTech Co., Ltd. Reports 29% Rise in Q2 Revenues

by Richard Daverman, PhD

August 14, 2012 -- Continuing a history of strong earnings reports, WuXi PharmaTech, China's largest CRO/CMO, announced record results for Q2. In fact, the second quarter was the first time its China revenues exceeded $100 million in a single three-month period. In total, the company’s Q2 revenues climbed 29% to $130 million. For historical reference, that was more than four times its results from five years ago, at the time WuXi completed its 2007 IPO. Because the first half of the year was so strong, WuXi raised its guidance to just under $500 million in revenues for the entire year. More details....

Stock Symbol: (NYSE: WX)