Charles River Labs to pay $1.6 billion for WuXi PharmaTech
April 26, 2010 by MassDevice staff
Charles River Laboratories International and WuXi PharmaTech (Cayman) Inc. agree to merge in a $1.6 billion blockbuster; CRL's first-quarter sales dip, earnings plunge.
Charles River Laboratories International Inc. (NYSE:CRL) didn't let disappointing first-quarter results slow it down, inking a $1.6 billion cash-and-stock deal to acquire Shanghai-based WuXi PharmaTech (Cayman) Inc. (NYSE:WX).
The Winchester, Mass.-based contract research organization said it will keep flying the Charles River banner and trade under its CRL ticker as it boosts its offerings to cover drug development from molecule creation to first-in-human testing.
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