SHANGHAI, China, Oct. 26 /Xinhua-PRNewswire/ -- 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 support and employees for their dedication and hard work," continued Dr. Li.
About WuXi PharmaTech
Founded in 2000, Shanghai-based WuXi PharmaTech is the leading China-based pharmaceutical and biotechnology R&D outsourcing company. As a research- driven and customer-focused company, WuXi PharmaTech provides pharmaceutical and biotechnology companies a broad and integrated portfolio of laboratory and research manufacturing services throughout the drug discovery and development process. WuXi PharmaTech's services are designed to assist its global partners in shortening the cycle and lowering the cost of drug discovery and development by providing cost-effective and efficient outsourcing solutions that save its customers both time and money. Its operations are grouped into two segments: laboratory services, consisting of discovery chemistry, service biology, analytical, toxicology, pharmaceutical development and process development services, and manufacturing, focusing on manufacturing of advanced intermediates and active pharmaceutical ingredients for R&D use. In 2006, WuXi PharmaTech provided services to 70 pharmaceutical and biotechnology customers, including nine of the top ten pharmaceutical companies in the world, as measured by 2006 total revenues. For more information, please visit: http://www.wuxipharmatech.com.
For more information, please contact:
Tel: +86 (21) 5046-4002
|SOURCE WuXi PharmaTech (Cayman) Inc.|
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