Charles River Laboratories International, Inc. completed the acquisition of 75% stake in Vital River Laboratories.
January 04, 2013 at 04:00 am
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Charles River Laboratories International, Inc. (NYSE:CRL) entered into an agreement to acquire 75% stake in Vital River Laboratories for $26.8 million on October 30, 2012. The deal is subject to customary closing conditions, including Chinese regulatory approvals. The deal is expected to close in the first quarter of 2013. The transaction is expected to add more than 1% to 2013 total net sales on a full-year basis and be slightly accretive to 2013 earnings per share of Charles River Laboratories International, Inc. The agreement also provides an option for Charles River to acquire the remaining 25% of Vital River at a later date. China eCapital Corporation served as the exclusive financial advisor to Vital River in this transaction. O'Melveny & Myers LLP acted as legal advisor to les River Laboratories International, Inc.
Charles River Laboratories International, Inc. (NYSE:CRL) completed the acquisition of 75% stake in Vital River Laboratories on January 4, 2013. As part of transaction, Charles River will be the exclusive global partner for distribution of model creation services offered through Beijing Vital Star Biotechnology.
Charles River Laboratories International, Inc. specializes in the development of products and services in the field of research and non-clinical drug development for pharmaceutical companies, government agencies and academic institutions. Net sales break down by activity as follows:
- discovery and safety assessment services (63.4%): discovery services for the identification, screening and selection of main compounds for the development of new drug candidates, and in vivo and in vitro testing, including pharmacokinetic, bioanalytical, metabolic, toxicological and pathological studies, for the safety assessment of pharmaceutical products, medical devices, animal health products, chemical and agrochemical products and biocides;
- development and sale of research models and related services (19.2%): mice, rats, immunodeficient models, rabbits, guinea pigs, hamsters, etc. The group also offers primary cells and specialized products (bioconservation products, freezing media for cell cultures, antigens, peptides, humanized mouse models, etc.) for the development and manufacture of new cell therapies ;
- development of solutions used in drug manufacturing processes (17.5%): products and services for microbiological testing, in vitro testing, endotoxin testing, microbial identification, development, manufacturing of avian vaccines, etc. The group also offers contract manufacturing services for cell and gene therapies.
Net sales break down by source of income between sales of services (83.3%) and sales of products (16.7%).
Net sales are distributed geographically as follows: the United States (56.8%), Europe (26%), Canada (11.8%), Asia/Pacific (4.9%) and other (0.4%).
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. 
