Business

Charles River climbs on 2 acquisitions

Charles River Labs CEO and chairman James C. Foster.
Charles River Labs CEO and chairman James C. Foster.Bill Greene/Globe staff/File/2010

This is a summary. To read the whole story subscribe to BostonGlobe.com

Charles River Laboratories ticked higher on a $179 million deal to buy a pair of European drug-targeting businesses that will help it expand as a contract researcher for pharma and biotech companies. The acquisition of Argenta and BioFocus, two British units of Dutch drug maker Galapagos NV, will allow Charles River to offer clients early-stage “in vitro” tests for drug targets, using cellular systems and computer simulations. “It gives us a broader, much more comprehensive portfolio than any other contract research organization in the world,” said CEO James C. Foster. The deal is expected to be completed this spring.

Full story for BostonGlobe.com subscribers.

Get the full story with unlimited access to BostonGlobe.com.

Just 99 cents for four weeks.

Share