Kendle will acquire the Phase II-IV Clinical Services business of Charles River Laboratories International, Inc. for approximately $215 million in cash. The move will strengthen Kendle's position in the clinical development industry, adding therapeutic expertise, diversifying its customer base and expanding its capacity for global trials. The transaction is expected to close in the third quarter of 2006. The acquired operations will operate under the Kendle name.
"We are excited by this move, which is an important component of our overall growth strategy designed to significantly enhance our global competitive position and accelerate Kendle to a $500 million organization," said Candace Kendle, Pharm.D., Kendle's chairman and chief executive officer. "Our customers will benefit from our strengthened global project leadership capability, expanded therapeutic expertise in the fastest-growing areas of clinical development and enhanced depth in North America and a number of key European markets. We look forward to completing the integration of our new operations into Kendle under our four service brands, and adding value for our customers through our combined organization."