NEW YORK (AP) — WuXi PharmaTech, which provides research and development outsourcing for the pharmaceutical and biotechnology sectors, said today it expects second-quarter profit and revenue to top Wall Street expectations.
The company said net income for each of its American depository shares should be 18 to 19 cents and revenue would be around $81 million.
Analysts polled by Thomson Reuters expect net income of about 17 cents per share and $76.6 million in revenue.
In April, Charles River Laboratories International Inc. announced it was buying China’s WuXi for $1.6 billion.
Shares of WuXi PharmaTech Inc. rose 33 cents to $16 before the market opened.