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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.
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.
Charles River Laboratories International (NYSE: CRL) will announce its third-quarter 2022 financial results on November 2 before market open, followed by a conference call at 9:00 a.m. ET. Investors can access the live webcast via the Investor Relations section of the company's website, with a replay available afterward. Charles River supports pharmaceutical and biotechnology sectors with essential services aimed at accelerating research and drug development.
Charles River Laboratories (NYSE: CRL) has launched the nAAVigation Vector Platform to expedite GMP AAV vector manufacturing for gene therapy developers. This platform aims to reduce the timeline for drug production by 55%, allowing product delivery in under 8 months. The proprietary technology leverages a high-productivity HEK293 cell line and optimized processes. The platform will be introduced at the Cell & Gene Meeting on October 12 in Carlsbad, CA. This launch showcases Charles River's commitment to enhancing efficiency and speed in clinical-stage manufacturing.
Charles River Laboratories (NYSE: CRL) announced its participation in two investor conferences in New York. The Baird 2022 Global Healthcare Conference will take place on September 13 at 10:15 a.m. EDT, while the Morgan Stanley 20th Annual Global Healthcare Conference is scheduled for September 14 at 10:00 a.m. EDT. Management will provide insights into the company's strategic focus and business developments. Live webcasts will be available on the Investor Relations section of the Charles River website, with replays accessible for two weeks.
Charles River Laboratories (NYSE: CRL) has announced a collaboration with Cure AP-4 to provide high-quality plasmid DNA for Phase I/II clinical trials targeting AP-4 Hereditary Spastic Paraplegia. This partnership aims to address a rare neurodegenerative disorder caused by a genetic defect, impacting mobility and cognitive function.
With rising demand for plasmid DNA in therapeutic applications, Charles River's dedicated manufacturing center will accelerate clinical timelines. This collaboration emphasizes the company’s role in advancing innovative therapies for underserved patient populations.
Charles River Laboratories (NYSE: CRL) has expanded its Charles River Accelerator and Development Lab (CRADL) network by adding five new locations across California and Washington. This expansion follows the recent acquisition of Explora BioLabs and aims to enhance support for biopharmaceutical research. The new facilities provide flexible, turnkey vivarium rental space and access to a full suite of integrated drug discovery services. With 27 combined facilities, the network offers over 370,000 square feet of capacity in key biotech hubs globally.
Charles River Laboratories (NYSE: CRL) has received Good Manufacturing Practice (GMP) certification from the European Medicines Agency (EMA) for its Memphis CDMO facility. This approval allows the company to commercially produce allogeneic cell therapy drug products for European distribution. The certification follows a successful inspection by the Italian regulatory authority, marking Charles River as the first North American CDMO to achieve this milestone. This expands the company's capabilities in cell and gene therapy, enhancing its portfolio.
Charles River Laboratories International, Inc. (NYSE: CRL) reported second-quarter 2022 revenue of $973.1 million, up 6.4% year-over-year. GAAP earnings per share (EPS) were $2.13, a 23.8% increase, while non-GAAP EPS rose to $2.77, reflecting a 6.1% increase. However, the company reduced its 2022 revenue growth guidance from 13.5%-15.5% to 9.0%-11.0% due to headwinds in the CDMO business and unfavorable foreign exchange impacts. Despite robust demand in Discovery and Safety Assessment segments, challenges from foreign currency and rising interest rates were highlighted.
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