SHANGHAI, China, Dec. 30 /Xinhua-PRNewswire-FirstCall/ -- WuXi PharmaTech (NYSE: WX), China's premier provider of pharmaceutical R&D outsourcing services, sadly announced today one of its independent directors, Mr. Shawn Wang, Chief Financial Officer of Baidu, passed away in an accident during his vacation on December 27, 2007.
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Mr. Shawn Wang was appointed as an independent director on WuXi PharmaTech's Board of Directors in July, 2007 when the company was preparing its public listing on the New York Stock Exchange. During his brief tenure and as the Chairman of the Audit Committee, Shawn advised the company's management in particular areas of financial reporting, Sarbanes-Oxley Act compliance and investor relations.
"We are all deeply saddened by the tragic and untimely loss of Shawn. He was not only a remarkable leader but also a very close personal friend of mine," said Dr. Ge Li, Chairman and Chief Executive Officier of WuXi PharmaTech. "We are honored and grateful for having known and worked with Shawn. I will miss him very much and my thoughts and prayers go out to Shawn's family."
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 research manufacturing, focusing on manufacturing of advanced intermediates and active pharmaceutical ingredients for R&D use. In 2007, its 80 customers included nine of the world's top ten pharmaceutical companies by revenue.
For more information, please visit: http://www.wuxipharmatech.com .
