PRC drug company bought by US counterpart

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    clpstaff &clp articles

    A US-based drug research company, Charles River Laboratories International will purchase China-based WuXi PharmaTech, a drug research and development outsourcing…

    A US-based drug research company, Charles River Laboratories International will purchase China-based WuXi PharmaTech, a drug research and development outsourcing company with operations in China and the US.

    Charles River will pay approximately US$1.6 billion to acquire WuXi PharmaTech. The transaction is expected to close by the fourth quarter of 2010 and is subject to the approval of both companies' stockholders, customary closing conditions and regulatory approvals.

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