Charles River Justifies Purchase of WuXi PharmaTech

Charles River Labs defended its $1.6 billion acquisition of WuXi PharmaTech by repeating its long-term strategic rationale for the transaction: the combined companies will be able to offer “full service, early-stage drug development on a global basis” to the world’s pharmaceutical companies. The justification was made in an effort to quiet criticism of the deal made by Jana Partners, an activist hedge fund. More details... Stock Symbols: (NYSE: CRL) (NYSE: WX)