Charles River acquisition enhances discovery expertise

KWS increases Charles River's ability to support clients’ early-stage drug research in critical therapeutic areas.

James C. Foster, Chairman, President and CEO of Charles River, said: “The addition of KWS strategically expands Charles River’s existing discovery capabilities in the field of immunology, which is critical given the importance of new therapies which harness the human immune system. In addition to enhancing our position as the premier single-source provider for a broad portfolio of discovery services, KWS increases our ability to support clients’ early-stage drug research in critical therapeutic areas, and expands our geographic footprint in the UK.”

The purchase price was approximately £15 million in cash (approximately $20 million based on current exchange rates), subject to certain post-closing adjustments. In addition to the initial purchase price, the transaction includes a potential additional payment of up to £3 million based on future performance (approximately $4 million based on current exchange rates). The transaction is not expected to be material to 2018 GAAP or non-GAAP results from operations.