WuXi PharmaTech Ranks The 22nd of Deloitte Tech Fast 50 China
Nov 23, 2005
November 23, 2005 - Shanghai, China - WuXi PharmaTech is proud to announce that it was named the 22nd in the Deloitte Technology Fast 50 China, a ranking of the 50 fastest growing technology companies in China. The ranking is based on average percentage growth of fiscal year revenues for the five years (2000–2004). WuXi PharmaTech grew more than 50 times during this period.
"Deloitte Technology Fast 50 China companies have shown the strength, vision and temerity to succeed in today's very competitive technology environment," said Charles Yen, managing partner of Deloitte in China Northern Region. "We applaud the successes of WuXi PharmaTech and acknowledge it as one of the very few to accomplish such a fast growth rate over the past five years."
Dr. Ge Li, chairman and CEO of the company, attributes the company's phenomenal revenue growth to many factors, including the trust and confidence that its collaboration partners place in WuXi PharmaTech, the dedication and hard work of its employees, and its uncompromised service quality and high regard for IP protection. He said, "Growing the top line enough to make the Deloitte Technology Fast 50 China is a great honor. But WuXi PharmaTech still has a long way to go before it becomes a truly world-class R&D service company."
Winners of Deloitte Technology Fast 50 China are selected based on percentage revenue growth over five years from 2000 to 2004. To be considered, Technology Fast 50 entrants must: be in business for a minimum of three years; have revenues of at least $50,000 in the first of the years being analyzed; have headquarters in Mainland China or Hong Kong; be a "technology company" defined as a company that develops proprietary technology which contributes to a significant portion of the company's operating revenues, manufactures a technology-related product, or devotes a high percentage of effort to research and development of technology.
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.