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Charles River Laboratories to Acquire Frontage’s Bioanalysis and DMPK Businesses

CRL
  • Charles River Laboratories agreed to acquire Frontage Holdings' bioanalysis & DMPK operations in Exton, Pennsylvania for approximately $470 million in cash.
  • The deal includes potential additional payments of up to $75 million based on future performance of the acquired business.
  • Transaction closure is expected in the first half of 2027, subject to shareholder, regulatory, & court approvals.
  • Charles River will join a consortium with Tigermed & Dr. Song Li to privatize Frontage from the Hong Kong Stock Exchange before restructuring & acquiring the specific assets.
  • The acquisition adds two sites in Exton spanning ~150,000 square feet with ~340 employees, including a CLIA-certified central laboratory.
  • Frontage's bioanalysis & DMPK units represented ~40% of its 2025 total revenue of $256.7 million.
  • The deal aims to expand Charles River's clinical bioanalysis capabilities, currently generating ~15% of its bioanalysis revenue from clinical-phase testing.
  • The transaction is projected to be non-GAAP earnings neutral in 2027 & accretive thereafter.
  • Acquired businesses will be reported within Charles River's Discovery & Safety Assessment (DSA) segment.
  • The acquisition supports Charles River's Pathway to Purpose strategy by strengthening its offering across the full drug development lifecycle.