Charles River to Acquire Piedmont Research Center
Expands Discovery and Imaging Services Through Additional Oncology Expertise
WILMINGTON, MA, April 3, 2009 – Charles River Laboratories International, Inc. (NYSE: CRL) announced today the signing of an agreement to acquire the business and assets of Piedmont Research Center, LLC, a wholly-owned subsidiary of PPD, Inc. (NASDAQ: PPDI) for $46 million in cash. North Carolina-based Piedmont Research Center (PRC) provides preclinical discovery services focused on efficacy studies in oncology and other therapeutic areas for pharmaceutical and biotechnology clients. The acquisition is expected to be neutral to earnings per share on both a GAAP and non-GAAP basis in 2009. The transaction is expected to close during the second quarter, subject to customary closing conditions.
