WILMINGTON, Mass.--(BUSINESS WIRE)--Apr. 4, 2016--
Charles River Laboratories International, Inc. (NYSE:CRL) announced
today that it has completed the previously announced acquisition of WIL
Research for approximately $585 million in cash, subject to certain
customary adjustments.
WIL Research is a premier provider of safety assessment and contract
development and manufacturing (CDMO) services to biopharmaceutical and
agricultural and industrial chemical companies worldwide. Acquiring WIL
Research enhances Charles River’s position as a leading global
early-stage contract research organization (CRO) by strengthening its
ability to partner with global clients across the drug discovery and
development continuum.
James C. Foster, Chairman, President, and Chief Executive Officer of
Charles River Laboratories, commented, “We are pleased to welcome the
exceptional team at WIL Research to the Charles River family. WIL
reinforces our scientific leadership, adding a wealth of talent with
deep expertise in specialty areas. Our combined capabilities and larger
infrastructure will enhance our ability to support our clients’ complex
drug research and development needs, enabling them to make critical
go/no-go decisions faster and with greater certainty. The acquisition of
WIL Research is a key element of our continued ability to support our
clients’ early-stage drug research efforts, to achieve our long-term
growth goals, and to enhance shareholder value.”
Caution Concerning Forward-Looking Statements
This news release includes forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as “anticipate,”
“believe,” “expect,” “will,” “may,” “estimate,” “plan,” “outlook,” and
“project” and other similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
Forward-looking statements include statements in this news release
regarding the acquisition of WIL Research and Charles River’s
expectations with respect to the impact of WIL Research on the Company,
its service offerings, client perception, revenue, revenue growth rates,
and earnings; Charles River’s projected future performance including
revenue and earnings per share; Charles River’s expected operational
synergies; as well as Charles River’s future growth in the area of
safety assessment and contract development and manufacturing.
Forward-looking statements are based on Charles River’s current
expectations and beliefs, and involve a number of risks and
uncertainties that are difficult to predict and that could cause actual
results to differ materially from those stated or implied by the
forward-looking statements. Those risks and uncertainties include, but
are not limited to, the ability to successfully integrate the
acquisition of WIL Research. A further description of these risks,
uncertainties, and other matters can be found in the Risk Factors
detailed in Charles River's Annual Report on Form 10-K as filed on
February 12, 2016, as well as other filings we make with the Securities
and Exchange Commission. Because forward-looking statements involve
risks and uncertainties, actual results and events may differ materially
from results and events currently expected by Charles River, and Charles
River assumes no obligation and expressly disclaims any duty to update
information contained in this news release except as required by law.
About Charles River
Charles River provides essential products and services to help
pharmaceutical and biotechnology companies, government agencies and
leading academic institutions around the globe accelerate their research
and drug development efforts. Our dedicated employees are focused on
providing clients with exactly what they need to improve and expedite
the discovery, early-stage development and safe manufacture of new
therapies for the patients who need them. To learn more about our unique
portfolio and breadth of services, visit www.criver.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160404005837/en/
Source: Charles River Laboratories International, Inc.
Investors:
Susan E. Hardy, 781-222-6190
Corporate
Vice President, Investor Relations
susan.hardy@crl.com
or
Media:
Amy
Cianciaruso, 781-222-6168
Corporate Vice President, Public Relations
amy.cianciaruso@crl.com
