WuXi PharmaTech Announces Strong Q1

WuXi PharmaTech (药明康德) reported Q1 revenues rose 36% to $80.6 million, helped by a very large increase in its contract manufacturing division, which grew 433% to $13.6 million. In WuXi’s core Lab Services business, revenues were up 18%. GAAP net income climbed 32% to $15.5 million or 21 cents per share. The company showed some optimism about the rest of the year, expecting full-year 2010 revenues to be at the high end of its previous $310-$320 million forecast. More details... Stock Symbol: (NYSE: WX)