Mad Money host Jim Cramer speaks with James Foster on the Company’s turnaround and planned acquisition of the contract research division of Galapagos NV.
The area’s largest preclinical research organization just got a little larger with the acquisition of two European firms. But what CEO Jim Foster said about the reason for the acquisitions says a lot about both contract research organizations and where biotech in general is headed.
Charles River Laboratories International Inc. announced it will pay $179 million to buy a pair of European drug-targeting businesses that will help it expand its capabilities as a contract research organization for pharmaceutical and biotechnology companies.
Today, Charles River Laboratories (CRL) announced that it has agreed to buy the CRO business of Belgian drugmaker Galapagos NV. This acquisition will enable Charles River to offer a full suite of discovery and early stage capabilities, positioning itself as a one-stop shop for biopharma customers.
Charles River Laboratories said today it will acquire the CRO services division of Galapagos—including the Argenta and BioFocus businesses—in an up-to-€134 million (approximately $186 million) deal designed to strengthen the acquiring CRO at a time when more biopharmas are outsourcing their drug discovery and preclinical services, by strengthening its offerings earlier in the drug development process.
Charles River Laboratories is looking to pad its preclinical prowess, inking a $179 million deal with drugmaker Galapagos for two CRO subsidiaries and a chance to expand its in vitro biology expertise.
Belgian biotechnology group Galapagos has agreed to sell its drug discovery service businesses to Charles River Laboratories International for up to 134 million euros ($186.3 million).
CRO Charles River Laboratories launches a new insourcing/outsourcing option for its clients to improve their quality control. This service, known as RightSource, will allow clients to externalize their QC testing and identify the best combination of insourcing and outsourcing options.
Charles River Laboratories has launched its new insourcing/outsourcing option to biotech and pharma companies, allowing them to completely externalize their quality control (QC) testing program to Charles River.
As part of their effort to improve drug development, Charles River Laboratories, in collaboration with Tufts University, has found a new way to measure mouse well-being by observing nesting behavior.