WuXi PharmaTech (NYSE: WX) Announces Closing of Initial Public Offering
Aug 14, 2007
SHANGHAI, China, August 14, 2007 – WuXi PharmaTech (Cayman) Inc. (NYSE: WX) ("WuXi PharmaTech"), the leading China-based pharmaceutical and biotechnology research and development outsourcing company in the growing global drug R&D outsourcing market, announced today the closing of its initial public offering of 15,167,326 American Depositary Shares ("ADSs"), including 1,978,347 ADSs issued in connection with the exercise of the over-allotment option in full.
WuXi PharmaTech's ADSs commenced trading on the New York Stock Exchange on August 9, 2007 under the symbol "WX".
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. acted as lead underwriters and joint book-runners and Jefferies & Company, Inc. acted as a co-manager in the offering.
The United States Securities and Exchange Commission has declared WuXi PharmaTech's registration statement effective. This news release does not form a part of WuXi PharmaTech's prospectus and does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Until September 2, 2007, a copy of the prospectus relating to the offering may be obtained by contacting Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue 1B, New York, NY 10010; phone: 1- 800-221-1037; or by contacting JP Morgan Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245; phone: 1-866-430-0686. The prospectus contains detailed information about WuXi PharmaTech and its management, as well as its financial statements.
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.