Not content with the $585 million it paid out just a few months ago for WIL Research, Charles River is back on the M&A trail once again with its buyout of CRO Blue Stream Laboratories--its sixth deal in two years.
Charles River Laboratories ($CRL) says it will now combine Woburn, MA-based Blue Stream Laboratories into its existing discovery, safety assessment, and biologics capabilities.
This, the company says, will create a “leading provider” with the ability to support biologic and biosimilar development from characterization through clinical testing and commercialization. Financial details of the deal were not disclosed.
Blue Stream is an analytical CRO which works on complex biologics and biosimilars, with a focus on protein characterization.
James Foster, chairman, president and CEO, said: “Our continued investment in expanding our biologics portfolio, through the development of new assays and capabilities, has enabled us to provide a broader testing solution for our clients.
“This investment is particularly important now, when the number of biologic and biosimilar drugs in development is increasing. The acquisition of Blue Stream will meaningfully enhance the ability of our Biologic Testing Solutions business to compete effectively in this high-growth market segment.”
This rounds off a major buying spree for Charles River, which only in April completed its buyout of the OH-based CDMO WIL Research, bolstering its manufacturing and global footprint.
Its Blue Stream buy is now Charles River's sixth deal over the past two years--capping an acquisitive spree the CRO says has fortified its position in the market for outsourced drug development.
In November, Charles River Laboratories traded $36 million for Oncotest, a German company offering discovery and validation services in the field of oncology.
Months before, the company spent $212 million on Celsis, which is focused on quality-control testing--and in 2014 Charles River paid $179 million for Argenta and BioFocus, two discovery-minded service providers formerly owned by Galapagos ($GLPG).
In late 2014, the company shelled out $52 million for ChanTest, an OH-based company that specializes in ion channel testing for early-stage drug development.
- check out the release
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Charles River spends $585M on WIL Research amid a buyout spree