WuXi PharmaTech Awarded in Deloitte Technology Fast 50 China 2008 List for the Fourth Consecutive Ye
Nov 10, 2008
November 10, 2008 – Shanghai, China – WuXi PharmaTech (NYSE: WX), a leading pharmaceutical, biotechnology and medical device research and development outsourcing company with operations in China and the United States, is hereby proud to announce its fourth consecutive ranking on the Deloitte Technology Fast 50 China 2008 list.
The Deloitte Technology Fast 50 China program annually recognizes fast growing high-tech companies in Technology, Media and Telecommunications related industries (TMT) based on their average revenue growth rates over the last three years. At the award ceremony, all the top-tier executives from the fastest-growing technology companies within China network shared their industry insight into the big challenges IPO has brought and will continue to bring out to these high-growth enterprises.
The fourth year recognized by Deloitte Technology Fast 50 China program is attributed to WuXi's phenomenal growth with a 300 percent revenue increase during the previous three years. As a pioneer and leader in rapidly growing pharmaceutical R&D outsourcing service industry in China, the company has boosted its global presence by IPO on the NYSE in 2007 and the acquisition of the US-based AppTec Laboratory Services, Inc. in 2008.
"We credit our growth to the unwavering pursuit of building a fully integrated pharmaceutical, biotechnology and medical device R&D service platform," commented Mr. Benson Tsang, Chief Financial Officer of WuXi PharmaTech. "With the completion of our Suzhou GLP drug safety evaluation center, we will further broaden our service portfolio and enhance our revenue growth. Being named again and again to this prestigious honor is a testament to our commitment to providing high-quality and value-added services to our clients."
Ranked the 22nd, 27th, 28th and 41st in 2005, 2006, 2007, and 2008, respectively, WuXi PharmaTech is one of the three companies that have won the award for four consecutive years.
WuXi PharmaTech is a leading pharmaceutical, biotechnology and medical device R&D outsourcing company, with operations in China and the United States. As a research-driven and customer-focused company, WuXi PharmaTech provides pharmaceutical, biotechnology and medical device companies a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi PharmaTech's services are designed to assist its global partners in shortening the cycle and lowering the cost of drug and medical device R&D. The operating subsidiaries of WuXi PharmaTech are known as WuXi AppTec. For more information, please visit: www.wuxiapptec.com.