WuXi PharmaTech postpones proposed 10.1M ADS follow-on offering

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WuXi PharmaTech postpones proposed 10.1M ADS follow-on offering

Tuesday, May 06, 2008; Posted: 09:47 AM

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BOSTON, May 06, 2008 (Thomson Financial via COMTEX) -- WX | news | PowerRating | PR Charts -- WuXi PharmaTech (Cayman) Inc. said Tuesday it postponed its proposed 10.1 million American depositary share follow-on offering.

The Shanghai, China-based biotechnology company cited market conditions and the trading price for its American depositary shares as reasons for the postponement.

WuXi PharmaTech shares rose 3.2% to $19.30 on volume of 81,500. Greg Saulnier gs/jw

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