The Week in Review: Charles River Cancels Merger with WuXi

The proposed merger between Charles River Labs and WuXi AppTec was cancelled because Charles River’s investors felt the company overpaid; Dr. Ge Li, Chairman and CEO of WuXi blamed “short-term financial” worries for the merger’s demise; we argued that Charles River may be passing up a one-time opportunity to establish near-complete global CRO dominance; China Kanghui Holdings, a medical-device company, filed for an IPO on the NYSE; Kangmei Pharma will purchase two TCM companies in Sichuan; Radient Pharma announced a new plan to sell its China subsidiary, Jade Pharma; Affymetrix is developing a genotyping array specifically for Chinese populations; Merck signed a letter of intent with Sinopharm to market its HPV vaccine; and China has signed an intellectual property agreement with Taiwan. More details…. Stock Symbols: (NYSE: CRL) (NYSE: WX) (SHEX: 600518) (AMEX: RPC) (NSDQ: AFFX) (NYSE: MRK) (SHEX: 600511)