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Tuesday, June 8, 2010

As turning into the largest CRO, WuXi PharmaTech is struggling !

June 7, 2010 : The major shareholder, Jana Partners rejects Charles River Purchase of China’s WuXi. Jana head,Barry Rosenstein, said “Even if the contemplated benefits can ultimately be realized, we believe that the high cost, significant integration risks and inopportune timing simply make the proposed acquisition the wrong path for Charles River shareholders.”

Date backs to 2008, Covance surrendered a joint venture plan with WuXi.

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