WuXi PharmaTech Announces Q1 Results

WuXi PharmaTech announced Tuesday its financial results for first-quarter 2011 as revenue increased 16% to $93.6 million.

WuXi PharmaTech (Cayman) Inc., a leading research and development outsourcing company serving the pharmaceutical, biotechnology, and medical device industries, with operations in China and the United States, announced yesterday its financial results for first-quarter 2011.

Main financial results:

1. First-Quarter 2011 Net Revenues Increased 16% Year Over Year to $93.6 Million;
2. Laboratory Services Net Revenues Grew 12% Year Over Year to $75.2 Million;
3. China-Based Laboratory Services Net Revenues Increased 12% Year Over Year to $56.1 Million;
4. U.S.-Based Laboratory Services Net Revenues Increased 12% Year Over Year to $19.1 Million;
5. Manufacturing Ser