Charles River Laboratories International has completed the acquisition of non-clinical contract research organization (CRO) for €448m in cash.
Image: Charles River has completed acquisition of non-clinical CRO Citoxlab. Photo: courtesy of Charles River.
The deal is also said to be valued at around $500m based on current exchange rates and subject to customary closing adjustments.
Citoxlab is a major CRO that has expertise in providing regulated safety assessment services and non-regulated discovery services, as well as medical device testing services.
The firm offers a range of preclinical and specialty services through its facilities in France, Canada, Denmark and Hungary. Its GLP and non GLP non-clinical services will help meet customers to meet the demands of current complex global marketplace.
Citoxlab provides its clients with services such as accelerated product development, risk mitigation, reduced regulatory delays and improved quality and expansion into new markets.
The companies clients comprise of biopharmaceutical, agriculture and industrial chemical, and medical device companies across the world.
The acquisition of Citoxlab will help Charles River to expand its scientific portfolio and geographic footprint, as well as enhances the company’s ability to collaborate with clients across the drug discovery and development continuum.
Citoxlab said that the reports from its four facilities have been used by the clients in support of marketing authorization and new product approval submissions across the world, including the European (EMA, ECHA), US (FDA and EPA) and Japanese (MHLW and MAFF) regulatory authorities.
Charles River Laboratories chairman, president and CEO James Foster said: “Citoxlab’s complementary service offering and geographic footprint are an excellent strategic fit and will enable us to enhance the support we can provide for our clients’ early-stage research efforts.
“The addition of Citoxlab’s talented staff, extensive scientific capabilities, and client-centric approach solidifies our leading position in the outsourced safety assessment market at a time when we believe there is and will continue to be significant client demand for these outsourced services.
“We are pleased to welcome the exceptional team at Citoxlab to the Charles River family, and look forward to working together to help our clients discover and develop new drugs for the patients who need them.”