May 29, 2008 -- Yesterday, WuXi PharmaTech (NYSE: WX), the Shanghai-based CRO, reported first quarter financial results that were sharply ahead of the year-earlier figures and also slightly better than analysts’ forecasts – but the stock price nevertheless fell by $1 or 5% in the session following WuXi’s announcement. Some observers laid the blame for the drop on disappointing news from the newly acquired US-based AppTec subsidiary. AppTec’s revenues were below those promised by WuXi at the time the acquisition was announced. More details...
