Charles River Laboratories International, Inc. has entered into a definitive agreement to acquire the contract research organization (CRO) services division of Galapagos NV, which includes both Argenta and BioFocus, providers of integrated drug-discovery services, with a predominant focus on in vitro capabilities. The acquisition will position Charles River as a full service, early-stage with integrated in vitro and in vivo capabilities from target discovery through preclinical development. The purchase price is EUR 129 million in cash ($179 million). In addition to the initial purchase price, the transaction includes future performance payments of up to EUR 5 million ($7 million).

Source: Charles River Laboratories