Shares of WuXi PharmaTech (Cayman) Inc. (WX, Financial) were strong in the fourth quarter. As the largest Chinese Contract Research Organization (CRO), with an estimated 27% market share, WuXi is a beneficiary of increased pharma outsourcing activity to countries like China and India. Performance during the fourth quarter is attributable to above consensus financial results and a growing pipeline of contract research and manufacturing activity. We retain conviction in the company due to its high growth potential and strong relationships with leading pharmaceutical companies. (Anuj Aggarwal)
From Ron Baron (Trades, Portfolio)'s Baron Funds' fourth quarter 2013 commentary.
