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Business

Charles River Closes Preclinical Facility

by Rick Mullin
January 18, 2010 | APPEARED IN VOLUME 88, ISSUE 3

Charles River Laboratories will close its preclinical services facility in Shrewsbury, Mass., eliminating 300 jobs. “This decision comes after a challenging year in which the consolidation of the biopharmaceutical industry, the slowdown in R&D efforts, and the financial constraints for biotechnology companies resulted in softness in market demand for our services,” says James C. Foster, Charles River’s CEO. The company estimates the move will reduce operating costs by $20 million in 2010, and expects associated charges of $7 million. The company, which has about 8,000 employees worldwide, will retain approximately 30 workers from the Shrewsbury site responsible for ongoing operations, some of whom will be relocated to other facilities.

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