WuXi PharmaTech (NYSE: WX) Ranked the 28th of Deloitte Technology Fast 50 China
Oct 26, 2007
October 26, 2007 - Shanghai, China - WuXi PharmaTech (NYSE: WX), China's premier provider of pharmaceutical R&D outsourcing services announced today that it has been ranked the 28th in the Deloitte Technology Fast 50 China program, a ranking of the 50 fastest growing technology companies in China. The awards ceremony was held in the JW Marriott Hotel Shanghai at Tomorrow Square, Shanghai on October 25.
The Deloitte Technology Fast 50 China program ranks leading companies in Technology, Media and Telecom (TMT) sectors based on their average revenue growth rates over the last three years. Given China's rapid economic growth, the strong development of the TMT industry, the government advocating technology innovation and the appetite of local and overseas venture capital for fast growing technology companies, this year's revenue growth requirement for winning has substantially increased. As a result, more than half of the winners are the first time winners and only one of the top 10 winners is a previous winner.
Ranked the 22nd, 27th and 28th in 2005, 2006 and 2007, respectively, WuXi PharmaTech is one of the nine companies to win the award for three consecutive years.
"We are pleased to be recognized by Deloitte for our accomplishments for the third time," commented Dr. Ge Li, Chairman and Chief Executive Officer of WuXi PharmaTech. "As the whole industry sector enjoys remarkable growth, WuXi PharmaTech has grown from a small start-up to a New York Stock Exchange listed company. I am very proud that we still can maintain our relative rank on the list, and I would like to take this opportunity to thank our customers for their strong supports and employees for their dedication and hard work," continued Dr. Li.
About WuXi PharmaTech (Cayman) Inc.
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.