Charles Riv­er drops $510M to bag non-clin­i­cal CRO; Mag­pie rais­es $14.8M Se­ries B to mod­ern­ize tra­di­tion­al Chi­nese meds

→ The ear­ly-stage spe­cial­ists at Charles Riv­er Lab­o­ra­to­ries are adding a team of non-clin­i­cal CRO ex­perts to their team with a $510 mil­lion (€448 mil­lion) ac­qui­si­tion of Citoxlab. Com­ing a year af­ter Charles Riv­er’s last big cash buy­out — where it dished out $800 mil­lion for MPI Re­search — the deal is de­signed to beef up the Wilm­ing­ton, MA-based com­pa­ny’s tox­i­col­o­gy, dis­cov­ery, ge­nomics and med­ical de­vice test­ing ser­vices while ex­pand­ing its foot­print in Eu­rope. Share­hold­ers should ex­pect non-GAAP earn­ings per share ac­cre­tion of around $0.15 in 2019 af­ter the trans­ac­tion wraps in the sec­ond quar­ter of this year, Charles Riv­er said.

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