Charles River Laboratories (CRL) buys WuXi PharmaTech (WX +8.7%) for $21.25/share, a 28%...

|About: Charles River Laboratori... (CRL)|By:, SA News Editor

Charles River Laboratories (CRL) buys WuXi PharmaTech (WX +8.7%) for $21.25/share, a 28% premium. The roughly $1.6B deal is the largest foreign takeover of a Chinese company and will allow Charles River to expand in China, where revenue from drug-testing services is growing as much as 30% annually. (PR)