Welcome to our dedicated page for Charles River Laboratories International news (Ticker: CRL), a resource for investors and traders seeking the latest updates and insights on Charles River Laboratories International stock.
Founded in 1947, Charles River Laboratories International, Inc. (symbol: CRL) is a global leader in providing essential products and services to pharmaceutical and biotechnology companies, government agencies, and academic institutions. The company's mission is to accelerate research and drug development efforts, significantly contributing to the healthcare industry.
Charles River operates through three main segments:
- Research Models & Services: This segment is renowned for being the leading provider of laboratory animal models. Charles River breeds and supplies animals with specific genetic traits for preclinical studies worldwide, supporting the critical early stages of drug discovery.
- Discovery & Safety Assessment: This segment offers a comprehensive range of services necessary for the early development of new drugs. From discovery services to safety assessments, Charles River helps clients navigate the complex process of taking a drug from concept to early-stage development.
- Manufacturing Support: This includes microbial solutions for in vitro testing, biologics testing services, and avian vaccine services. These services are integral to ensuring the safe manufacture and quality control of new therapies.
The company's workforce is dedicated to providing clients with the expertise and services they need to improve and expedite the discovery and development of new therapies. Charles River's collaborative approach and commitment to excellence have established it as a trusted partner in the life sciences industry.
Charles River continues to innovate and expand its services, making significant strides in the fields of drug discovery, biotechnology, and pharmaceuticals. With a strong financial footing and strategic partnerships, the company is well-positioned to support the future of healthcare advancements globally.
Arlington Capital Partners has acquired Charles River Laboratories' Avian Vaccine Services business, establishing a new entity called AVS Bio. This company will operate independently and cater to the biologic manufacturing market. AVS Bio is a leader in supplying specific pathogen-free eggs and laboratory products essential for vaccine development and manufacturing. With approximately 250 employees across over 20 facilities in the US and Europe, AVS Bio aims to expand through new product development and strategic acquisitions. The acquisition signals Arlington's focus on mission-critical inputs in the biologic sector.
Charles River Laboratories (NYSE: CRL) has re-appointed Dr. Craig B. Thompson to its Board of Directors. Dr. Thompson, a former President and CEO of Memorial Sloan-Kettering Cancer Center, served on Charles River's board from 2013 to 2018. His expertise in immuno-oncology and leadership in healthcare will enhance the board's strategic direction. Dr. Thompson aims to support Charles River's mission in drug research and development. His extensive background includes leadership roles in prominent medical institutions and significant contributions to cancer research.
Charles River Laboratories (NYSE: CRL) has launched the Endosafe® Nexus 200™, a robotic endotoxin testing system designed to enhance laboratory productivity. This system enables efficient testing of undiluted and complex samples, leveraging Endosafe Limulus Amebocyte Lysate (LAL) cartridge technology. Key benefits include a reduction in product lead times by 60-70%, minimized human error, and improved data management through integration with Laboratory Information Management Systems (LIMS). This launch addresses the growing demand for high-throughput automated solutions in pharmaceutical manufacturing.
Charles River Laboratories (NYSE: CRL) has launched its first Charles River Accelerator and Development Lab (CRADL) in Chicago, enhancing contract vivarium space for the biopharmaceutical sector in Illinois. Located in Fulton Market, this facility supports both emerging and established companies by providing on-demand laboratory space, fostering rapid project initiation. The CRADL-Explora Vivarium Network now encompasses 28 facilities across key locations, providing over 380,000 square feet of rental capacity, supporting the growth of the biotech ecosystem.
Charles River Laboratories (NYSE: CRL) will present at two significant investor conferences: the Jefferies 2022 London Healthcare Conference on November 16 at 10:20 a.m. GMT and the Evercore ISI 5th Annual HealthCONx Conference virtually on November 30 at 9:40 a.m. ET. Management will discuss the company’s strategic focus and recent business developments. Live webcasts will be available on the Investor Relations section of Charles River's website, with replays accessible for two weeks post-event.
Charles River Laboratories (NYSE: CRL) announced their participation at Neuroscience 2022, where they will present 23 scientific posters on neuroscience advancements. Key presentations include studies on gene therapy, biological markers in Alzheimer's, and Huntington's disease neuronal models. The event takes place from November 12-16 in San Diego, CA, featuring discussions on innovative drug therapies and approaches to neurodegenerative disorders. A notable quote indicates their support of 95% of FDA-approved neuroscience therapies in the last five years.
Charles River Laboratories (NYSE: CRL) has expanded its cell therapy contract development and manufacturing facility in Memphis, Tennessee. The facility now includes nine new processing suites, enhancing its capacity for clinical and commercial cell therapy production. These suites maintain compliance with GMP and international standards, featuring advanced containment designs and high-volume production capabilities. This expansion follows the facility's EMA approval to produce allogeneic cell therapy products, enabling quicker commercialization of transformative medicines.
Charles River Laboratories (CRL) reported third-quarter 2022 revenue of $989.2 million, a 10.4% increase from the prior year. GAAP earnings per share (EPS) fell 6.5% to $1.88, while non-GAAP EPS decreased 2.6% to $2.63.
Key factors included revenue growth in the Discovery and Safety Assessment segment, although divestitures and foreign currency effects reduced overall growth. The company announced plans to divest its Avian Vaccine business for approximately $170 million, projected to decrease revenue by $80 million in 2023. 2022 revenue growth guidance is narrowed to 10.0%-11.0%.
Charles River Laboratories (NYSE:CRL) announced the launch of a new digital donor experience to enhance donor engagement across its HemaCare Donor Centers in four US locations: Northridge, CA; Bothell, WA; Memphis, TN; and Lowell, MA. The digital app allows users to pre-qualify for donations and self-schedule appointments online. This initiative aims to streamline operations, increase donor conversions, and foster a diverse donor pool. HemaCare Donor Centers, FDA-registered and AABB-certified, provide crucial materials for medical research and therapies, offering anonymity and compensation for donors.
Charles River Laboratories (NYSE: CRL) has partnered with Nanoscope Therapeutics to manufacture plasmid DNA and viral vectors for clinical trials targeting degenerative ocular diseases. This collaboration utilizes Charles River’s contract development and manufacturing services, including GMP-grade plasmid DNA and GMP adeno-associated virus (AAV) production, which builds on previous acquisitions enhancing its manufacturing capabilities. Nanoscope aims to develop gene therapies to restore vision for patients with retinal degenerative diseases.
FAQ
What is the current stock price of Charles River Laboratories International (CRL)?
What is the market cap of Charles River Laboratories International (CRL)?
What services does Charles River Laboratories provide?
When was Charles River Laboratories founded?
Who are Charles River Laboratories' primary clients?
What is Charles River Laboratories' mission?
What is included in the Research Models & Services segment?
What does the Discovery & Safety Assessment segment offer?
What are some of the services provided under Manufacturing Support?
How does Charles River contribute to the healthcare industry?
What makes Charles River Laboratories a trusted partner in the life sciences industry?
What is the ticker symbol for Charles River Laboratories International, Inc.?
