Charles River buys Chinese drug research firm
- April 26, 2010
Charles River Laboratories said Monday that it had agreed to acquire WuXi Pharma Tech, a Chinese pharmaceutical outsourcing services provider, in a cash and stock deal worth $1.6 billion, David Barboza and Michael J. de la Merced report in The New York Times.
In a news release, Charles River said the deal “revolutionizes the contract research landscape” by creating a global company that will offer a broad array of outsourcing services to the world’s biggest pharmaceutical, biotechnology and medical device companies.