January 29, 2008 -- WuXi PharmaTech (NYSE: WX) held a conference yesterday with its suppliers. Following a classic good-news/bad-news theme, the Shanghai-based CRO told its suppliers that it expected to increase spending between 50% and 100%, but at the same time, the company asked suppliers for better terms: longer payment periods, quality guarantees and lower prices. WuXi projects its 2008 spending on equipment and materials will total between 300 million RMB ($45.5 million) and 400 million RMB ($54 million). More details...
