WuXi PharmaTech reports 9% increase in gross profit
- Posted on 24 November 2008
WuXi PharmaTech (Cayman) has reported in its unaudited financial results for the third quarter ended September 30, 2008 that its net revenue increased 98% year-over-year to $67.5 million.
The manufacturing services segment focuses on advanced intermediates, active pharmaceutical ingredients (APIs), and biologics-based manufacturing, testing and related services.
Net revenues from the segment increased 180% to $20.5 million in the third quarter 2008 from $7.3 million in the third quarter 2007.
Gross profit increased 9% in the third quarter 2008 from $3.1 million in the third quarter 2007.
Third quarter 2008 generally accepted accounting principles (GAAP) gross margin was 16%, and non-GAAP gross margin was 23%.
