Charles River Laboratories expands global reach to China
US-based Charles River Laboratories International is expanding its global footprint in Asia.
US-based Charles River Laboratories International is expanding its global footprint in Asia.
The first phase of this expansion includes the signing of a joint venture agreement with Shanghai BioExplorer Co., a provider of preclinical services, to form Charles River Laboratories Preclinical Services - China. The joint venture will be majority owned and controlled by Charles River. The transaction is subject to customary closing conditions, including Chinese regulatory approval, and is expected to close by the end of the second quarter of 2007.
As part of this agreement, Charles River will construct a 50,000 ft2 preclinical services facility in Shanghai. The facility, which is expected to open in mid-2008, will provide a wide range of discovery and development services, including GLP and non-GLP toxicology studies, using Charles River's own research models. These services will meet the US FDA's and Charles River's standards for quality, as well as Charles River's stringent animal welfare policies.
'Charles River Laboratories intends to be the leading global contract research organisation to provide preclinical services in China that are compliant with international regulatory agencies,' said James C. Foster, chairman, president, and ceo of Charles River Laboratories. 'We expect demand for both research models and preclinical services in Asia to increase significantly over the next several years as pharmaceutical and biotechnology companies expand their research efforts in this market, and we intend to play a leading role in this emerging opportunity.'