WuXi PharmaTech: Q1 Revenues up 23%; Earnings Flat
May 14, 2015 at 11:49 AM EDT
WuXi PharmaTech, China's largest CRO/CMO, reported 2015 Q1 earnings grew 23% from the year earlier to $180 million, but GAAP net income was flat at $17.8 million. Dr. Ge Li, WuXi's Founder, President and CEO, blamed higher labor costs in China and investments in business expansion for lower margins. In the conference call, Dr. Li added that WuXi is talking with partners about several co-development projects and also contemplating a number of acquisitions. More details.... Stock Symbol: (NYSE: WX) Share this with colleagues: // //