ChinaBio Today -- Charles River Laboratories defended its $1.6 billion purchase of much-smaller WuXi PharmaTech (????) yesterday, even though the transaction will bring only incremental profit growth in the near term. According to CEO James C. Foster, WuXi gives Charles River a major foothold in China, a significant market for CRO services. Plus, the purchase takes Charles River into a new business sector: early-stage drug discovery. More details...
