Charles River Labs to buy WuXi PharmaTech, China medical company
Category Business | Monday, April 26th, 2010
Charles River
SHANGHAI — Medical research equipment and services company Charles River Laboratories International Inc. plans to buy WuXi PharmaTech, a Chinese pharmaceutical outsourcing company, for $1.6 billion.
The deal calls for Charles River to pay $21.25 for each WuXi American Depository Share, which is a 28 percent premium over WuXi’s closing price Friday of $16.57. Of the $21.25, some $10 will be in Charles River stock and the rest in cash, the two companies said in a statement.