Charles River Laboratories Acquires WIL Research
PTSM: Pharmaceutical Technology Sourcing and Management
Charles River Laboratories entered into a definitive agreement to acquire WIL Research.
On Jan. 7, 2016, Charles River Laboratories International announced that it has entered into a definitive agreement to acquire WIL Research for approximately $585 million in cash, subject to customary closing adjustments.
WIL Research is a provider of safety assessment and contract development and manufacturing (CDMO) services to biopharmaceutical, agricultural, and industrial chemical companies worldwide.
According to a press announcement from the company, the acquisition of WIL Research will assist the company in diversifying its science portfolio. This includes the addition of new specialty services in safety assessment, bioanalysis, and CDMO services.
The transaction is expected to close early in the second quarter of 2016, subject to regulatory approvals and customary closing conditions. Based on the anticipated timing of the close, the acquisition is expected to add $150 to $170 million to Charles River’s 2016 consolidated revenue, and $240 to $250 million to 2017 consolidated revenue.
Source: Charles River Laboratories
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