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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 (NYSE: CRL) has expanded its strategic partnership with SAMDI Tech, enhancing access to label-free high-throughput screening solutions in drug discovery. The collaboration enables Charles River to promote SAMDI's innovative technology, improving efficiency in measuring biochemical activities and binding events. This partnership builds on a successful agreement established in 2018, allowing Charles River clients to leverage SAMDI Tech's mass spectrometry platform for accelerated drug discovery. The initiative aims to provide clients with critical data faster, facilitating timely decision-making in the drug development process.
Charles River Laboratories (NYSE: CRL) is set to release its fourth-quarter and full-year 2021 financial results on February 16, 2022, before the market opens. A conference call to discuss these results and the 2022 financial guidance, initially shared on January 11, will follow at 8:30 a.m. ET. Investors can access a live webcast via the company’s Investor Relations site, with a replay available afterward.
Charles River Laboratories (CRL) and Valo Health have announced a multiyear strategic partnership to enhance drug discovery and development through AI. Utilizing Valo's Opal Computational Platform, the collaboration aims to optimize preclinical assets, addressing challenges like high costs and attrition rates. The initiative will integrate Valo's technological capabilities with Charles River's extensive drug development expertise, expediting processes from molecule design to IND submission. The combined offerings are set to launch in the first half of 2022 and will be exclusively available from Charles River.
Charles River Laboratories (NYSE: CRL) announced that CFO David R. Smith will retire by the end of 2022, transitioning the role to a successor. Smith has been pivotal since joining in 2014, promoting corporate growth and leading the global Finance organization. The company anticipates low-teens revenue growth in 2022, expecting a 13-15% increase despite challenges like a 1.5% impact from a 53rd week and a 1% foreign exchange impact. GAAP EPS is projected between $9.20 and $9.45, with non-GAAP EPS between $11.50 and $11.75.
Charles River Laboratories (NYSE: CRL) will present virtually at the 40th Annual J.P. Morgan Healthcare Conference on January 11 at 10:30 a.m. ET. The presentation will cover the company's strategic focus, recent business developments, and trends in the industry. Interested investors can access a live webcast of the presentation via the Investor Relations section of the Charles River website at ir.criver.com. A replay will be available for approximately two weeks post-event.
Charles River Laboratories International (NYSE: CRL) will present virtually at two investor conferences: the Jefferies London Healthcare Conference on November 18 at 8:00 a.m. GMT and the Evercore ISI HealthCONx Conference on December 1 at 9:40 a.m. ET. The management will outline the company’s strategic focus and business developments. Webcasts of both presentations will be accessible through the Investor Relations section on the Charles River website, with replays available for two weeks post-event.
Charles River Laboratories (NYSE:CRL) announced the promotion of Birgit Girshick to Chief Operating Officer, effective immediately. Previously serving as Corporate Executive Vice President, she has overseen various business units including Discovery Services and Safety Assessment. Girshick's new role expands her responsibilities to include the Research Models and Services business. CEO James C. Foster emphasized her operational expertise as crucial for advancing the company's strategic goals.
Charles River Laboratories reported third-quarter 2021 revenue of $895.9 million, a 20.5% increase from $743.3 million in Q3 2020. GAAP earnings per share (EPS) were $2.01, a 1.0% decline, while non-GAAP EPS rose 15.9% to $2.70.
Segment revenue showed growth: Research Models and Services increased by 12.7%, Discovery and Safety Assessment by 15.3%, and Manufacturing Solutions by 48.1%. The company updated its 2021 guidance, lowering revenue growth expectations to 19.5% – 20.5%.
Charles River Laboratories (NYSE: CRL) announced the expansion of its Charles River Accelerator and Development Lab (CRADL) in Cambridge, Massachusetts, increasing its vivarium space from 15,000 to 45,000 square feet, with plans for an additional 18,000 square feet. This expansion, part of a multi-year program, aims to support biopharmaceutical research by offering turnkey vivarium rental space and integrated drug discovery resources, allowing clients to focus on research. The expansion reflects Charles River's commitment to enhancing research capabilities in key biohubs.
Charles River Laboratories (NYSE: CRL) has announced a strategic partnership with ATEM Structural Discovery to enhance drug discovery services using ATEM's advanced cryo-electron microscopy (cryo-EM) technology. This collaboration aims to accelerate drug candidate selection and provide clients with in-depth structural insights into challenging protein targets. By integrating cryo-EM with Charles River's capabilities, the partnership seeks to optimize drug design processes while offering improved quality control and faster analysis for gene therapies and recombinant protein drugs.
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