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Charles River Laboratories acquires Chinese research company

Pays $27m for Beijing-based Vital River

Charles River Laboratories has acquired Vital River, a Chinese company that provides research models and services.

The US-based contract research organisation has already worked closely with Vital River for more than a decade and said the deal would allow it to “provide high-quality research models and associated services to the emerging China market for drug discovery and development”.

Charles River acquired majority ownership of Vital River, paying around $27m for 75 per cent of the company, with an option to pick up the remaining 25 per cent at a later date.

James Foster, Charles River's chairman, president, and CEO, said: “We expect demand for research models in China to significantly increase over the next several years as drug development initiatives in academia, government and biopharmaceutical companies expand.

“Through our acquisition of Vital River, Charles River intends to set the standards for research models in China, the third-largest pharmaceutical market in the world, and play a leading role in this emerging opportunity.” 

Madame Wang, president of Vital River, said: “We look forward to expanding our technology base for research models and services through this relationship, enabling us to set the standard in China as the industry continues to grow.”

For over ten years, Vital River has been a licensee for production and distribution of Charles River research models in China, with sites which reflect Charles River facility design.

The acquisition is expected to close in the first quarter of 2013 and Charles River expects it to add more than 1 per cent to its 2013 total net sales.

2nd November 2012

From: Research

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