Charles River Laboratories has acquired Accugenix, a provider of cGMP-compliant contract microbial identification testing, for approximately $17 million in cash. This acquisition strengthens Charles River’s Endotoxin and Microbial Detection (EMD) portfolio of products and services, providing clients with "state-of-the-art microbial detection services for manufacturing in the biopharmaceutical, medical device, nutraceutical and consumer care industries," according to a company statement.
Accugenix offers species-level identification and strain typing of bacteria and fungi that are recovered from manufacturing facilities. The company has invested in proprietary library databases that allow it to identify more than 5,000 species of organisms. According to a Charles River statement, Accugenix' proprietary in vitro technologies and scientific expertise and analysis enable the company to provide "accurate, time-effective and cost-effective microbial identification services required to meet internal quality standards and government regulations."
James C. Foster, chairman, president and chief executive officer of Charles River, said, "The acquisition of Accugenix is the first step in our broader strategy to become the premier provider of rapid microbial and endotoxin detection products and services to the biopharmaceutical industry. Over the next several years, we intend to enhance our capabilities through both product extensions and acquisitions. We believe that execution of this strategy will advance our position as the market leader in endotoxin and microbial detection.”
The acquisition is expected to be neutral to earnings per share on both a GAAP and non-GAAP basis in 2012, while it's expected to represent 1% of total net sales and be slightly accretive to both GAAP and non-GAAP earnings per share in 2013.
Contract Pharma will have a conversation with Foster Jordan, Charles River's corporate senior vice president, Endotoxin and Microbial Detection Products, in our October issue.