Welcome to our dedicated page for Charles Riv Labs Intl news (Ticker: CRL), a resource for investors and traders seeking the latest updates and insights on Charles Riv Labs Intl stock.
Overview of Charles River Laboratories International, Inc. (CRL)
Charles River Laboratories International, Inc. (CRL) is a globally recognized contract research organization (CRO) that provides essential services to pharmaceutical, biotechnology, academic, and government clients. The company specializes in supporting the discovery, development, and safe manufacturing of new therapies, playing a pivotal role in the life sciences ecosystem. With a comprehensive portfolio of products and services, CRL helps its clients accelerate research timelines and optimize the drug development process, making it a critical partner in the creation of innovative treatments for patients worldwide.
Core Business Areas
Charles River Laboratories operates across several key business segments, each tailored to meet the diverse needs of its clients:
- Discovery and Early-Stage Development: CRL provides services that span the early phases of drug discovery, including target identification, validation, and preclinical testing. These services are designed to help clients identify viable drug candidates efficiently.
- Safety Assessment: The company offers toxicology and safety evaluation services to ensure that new therapies meet regulatory requirements and are safe for further development.
- Research Models and Services: CRL supplies high-quality research models, including genetically engineered models, as well as associated services to support in vivo research.
- Manufacturing Support: The company provides services such as microbial detection, biopharmaceutical testing, and cell and gene therapy manufacturing support, which are critical for ensuring the quality and safety of therapeutic products.
Market Position and Industry Context
Operating at the intersection of biotechnology, pharmaceuticals, and academic research, Charles River Laboratories serves a growing market driven by the increasing complexity and cost of drug development. The rise of precision medicine, biologics, and cell and gene therapies has further expanded the demand for specialized CRO services. CRL differentiates itself through its end-to-end service offerings, global infrastructure, and expertise in early-stage research, making it a preferred partner for organizations looking to outsource R&D activities. Its ability to integrate discovery, safety assessment, and manufacturing support under one roof provides a seamless experience for clients, reducing time-to-market for new therapies.
Competitive Landscape
Charles River Laboratories faces competition from other CROs such as Labcorp Drug Development, ICON plc, and PPD. However, its focus on early-stage research, coupled with a broad service portfolio and a strong reputation for scientific expertise, sets it apart. The company's investments in technology, innovation, and global infrastructure further strengthen its competitive position, enabling it to address the evolving needs of the life sciences industry.
Significance in the Life Sciences Ecosystem
As a trusted partner to pharmaceutical and biotechnology companies, Charles River Laboratories plays a crucial role in advancing medical innovation. By providing specialized expertise and resources, the company helps its clients navigate the complexities of drug development, ensuring that new therapies reach patients more efficiently. This makes CRL an indispensable player in the global effort to improve healthcare outcomes.
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.
FAQ
What is the current stock price of Charles Riv Labs Intl (CRL)?
What is the market cap of Charles Riv Labs Intl (CRL)?
What does Charles River Laboratories International, Inc. do?
What industries does Charles River Laboratories serve?
How does Charles River Laboratories generate revenue?
What sets Charles River Laboratories apart from competitors?
What role does Charles River Laboratories play in drug development?
Who are the competitors of Charles River Laboratories?
What are Charles River Laboratories' core business segments?
Why is outsourcing to CROs like Charles River Laboratories important?
