April 26, 2010 / 2:54 AM / 7 years ago

Charles River to buy China's WuXi AppTec - WSJ

PHILADELPHIA, April 25 (Reuters) - Charles River Laboratories International Inc (CRL.N) plans to buy China’s WuXi AppTec Co for $1.6 billion, according to The Wall Street Journal.

Charles River is offering a combination of cash and stock for Shanghai-based WuXi, and hopes to close the deal by the fourth quarter, the newspaper reported in its online edition.

Charles River has focused on developing drugs before they go to clinical trials. WuXi has been active in drug chemistry, such as making molecules to synthesize a drug, according to the Journal.

Charles River could not be immediately reached for comment. (Reporting by Jessica Hall; Editing by Anshuman Daga) (For more M&A news and our DealZone blog, go to here)

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