Charles River Labs Buying Michigan Firm for $800 Million
The Boston Globe
Charles River has entered into an agreement to acquire MPI Research of Mattawan, Mich. MPI is a “contract research organization” that helps pharmaceutical and medical device companies that outsource some research and development.
Founded in 1947, Charles River is more than twice as old as the biotech industry it serves. It focuses not on the eureka moments that define so many biotechs, but on the behind-the-scenes services they outsource – from testing compounds for toxicity to supplying antibodies for drug production to genetically engineering rats and mice for animal drug trials.
As the life sciences sector has boomed in Massachusetts and beyond, Charles River has become an integral player in the industry. It does work for every one of the 100 largest global drug developers, and played a supporting role in more than half of the 86 new medicines approved by the Food and Drug Administration in 2014 and 2015.