Charles River Laboratories Completes Chinese Joint Venture.WILMINGTON, Mass. -- Charles River Charles River River, eastern Massachusetts, U.S. The longest river wholly in the state, it flows into Boston Bay after a course of about 80 mi (130 km). Navigable for about 7 mi (11 km), its estuary separates the cities of Boston and Cambridge. Laboratories International, Inc. (NYSE NYSE See: New York Stock Exchange :CRL CRL - Carnegie Representation Language. Carnegie Group, Inc. Frame language derived from SRL. Written in Common LISP. Used in the product Knowledge Craft. ) announced today the closing of its previously announced joint venture with Shanghai BioExplorer Co., Ltd. to form Charles River Laboratories Greater China, Preclinical Services Shanghai Company Ltd. Charles River will own a 75% stake and control Charles River Laboratories Greater China. James C. Foster James Clifford Foster is the chairman and chief executive officer of Charles River Laboratories, Inc., an international company that works on the drug discovery and development process. , Chairman, President, and Chief Executive Officer of Charles River Laboratories, commented, "Through the formation of Charles River Laboratories Greater China, we embark on the first phase of our initiative to become the leading global contract research organization providing regulatory-compliant preclinical services in China. Our new, 50,000 square-foot Shanghai facility, which is expected to open in the second half of 2008, will be managed by and employ staff trained by Charles River. Charles River Laboratories Greater China will adhere to adhere to verb 1. follow, keep, maintain, respect, observe, be true, fulfil, obey, heed, keep to, abide by, be loyal, mind, be constant, be faithful 2. the high quality standards of the U.S. Food and Drug Administration, as well as Charles River's facilities around the world. Charles River is well-positioned to become the partner of choice for our global pharmaceutical and biotechnology customers as they establish and expand research and development activities in the rapidly-growing Chinese market." Caution Concerning Forward-Looking Statements This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements may be identified by the use of words such as "anticipate," "believe," "expect," "will," "may," "estimate," "plan," "outlook," and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements include the statements in this press release regarding Charles River's expectation regarding the prospects of the joint venture with Shanghai BioExplorer Co., Ltd., including the timing of facility construction, opportunities for the preclinical business generated by this arrangement and future demand for products and services provided by Charles River and the joint venture. Forward-looking statements are based on Charles River's current expectations and beliefs, and involve a number of risks and uncertainties that are difficult to predict and that could cause actual results to differ materially from those stated or implied by the forward-looking statements. A further description of these risks, uncertainties, and other matters can be found in the Risk Factors detailed in Charles River's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. as filed on February 27, 2007, as well as other filings we make with the Securities and Exchange Commission. Charles River assumes no obligation and expressly disclaims any duty to update information contained in this release except as required by law. About Charles River Laboratories Charles River Laboratories, based in Wilmington, Massachusetts For other towns and places named Wilmington, see Wilmington. Wilmington is a town in Middlesex County, Massachusetts, United States. The population was 21,363 at the 2000 census. , partners with global pharmaceutical and biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. , government agencies, and leading academic institutions to advance the drug discovery and development process, bringing drugs to market faster and more efficiently. Charles River's 8,000 employees serve clients worldwide. For more information on Charles River, visit our web site at www.criver.com. |
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