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.