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Hit By U.S. Economic Tremors, Collapse In Biologics Business, WuXi PharmaTech Posts Massive Loss For 2008, American Unit AppTec Deeply Devalued

This article was originally published in PharmAsia News

Executive Summary

BEIJING - Battered in succession by the unstable U.S. economy, faltering biologics customers and mounting losses by American subsidiary AppTec Laboratory Services, WuXi PharmTech reported a net loss of more than $60 million for 2008

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