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.
Charles River Laboratories (NYSE: CRL) reported robust financial results for Q4 2020, with revenue of $791 million, up 14.4% year-over-year. Net income surged 78.2% to $143.2 million, translating to diluted EPS of $2.81. Organic growth was strong at 10.3%, led by all segments. The company announced the planned $875 million acquisition of Cognate BioServices, expected to enhance growth in the cell and gene therapy sector. For 2021, CRL expects revenue growth of 12% to 14% and non-GAAP EPS of $9.00 to $9.25, based on promising client demand.
Charles River Laboratories International, Inc. (NYSE: CRL) has signed an agreement to acquire Cognate BioServices, Inc. for approximately $875 million in cash. The acquisition aims to enhance Charles River’s capabilities in the rapidly growing cell and gene therapy CDMO sector, positioning it as a premier partner for biopharmaceutical clients. CEO James C. Foster emphasized that this strategic move will allow Charles River to provide integrated solutions from early-stage research through to commercialization. The transaction is expected to close by the end of Q1 2021, pending regulatory approvals.
Charles River Laboratories (NYSE: CRL) has partnered with Cypre, Inc. to enhance its 3D in vitro testing services. The collaboration grants access to Cypre's Falcon-X™ platform, a 3D tumor model technology that replicates the tumor microenvironment for better therapeutic efficacy predictions. This addition bolsters Charles River's existing cancer assay portfolio, facilitating more effective testing of immunotherapies and targeted treatments using a robust database of over 700 tumor models. The aim is to address cancer immunotherapy resistance and advance drug development.
Charles River Laboratories (NYSE: CRL) has formed a strategic partnership with JADE Biomedical to enhance its biologics testing capabilities. This collaboration aims to support the rising demand for biologics therapeutics, particularly in cell and gene therapies. JADE will expand its GMP product testing operations in Shanghai by opening a second facility, thereby increasing capacity for clients. The partnership combines both companies' expertise in navigating the complex global regulatory landscape, making them reliable partners to clients of any size.
Charles River Laboratories (NYSE: CRL) will present virtually at the 39th Annual J.P. Morgan Healthcare Conference on January 12th at 10:00 a.m. EST. The management team will discuss the company's strategic focus, recent business developments, and industry trends. A live webcast will be accessible in the Investor Relations section of their website, with a replay available for two weeks thereafter.
Charles River supports pharmaceutical and biotechnology companies, government agencies, and academic institutions in their research and drug development efforts. For more details, visit their website.
Charles River Laboratories (NYSE: CRL) acquired Distributed Bio, Inc. on December 31, 2020, following a partnership initiated in October 2018. Located in South San Francisco, Distributed Bio specializes in next-generation antibody discovery. This acquisition enhances Charles River's capabilities, integrating Distributed Bio’s innovative platforms for therapeutic antibody and gene therapy development. The deal, valued at $83 million plus contingent payments of up to $21 million, is not expected to materially affect financial results in 2021. Distributed Bio is projected to contribute approximately $15 million in annual revenue.
Charles River Laboratories International (NYSE: CRL) has launched the first Good Laboratory Practices (GLP) validated digital peer review service using Deciphex Patholytix Preclinical. This innovative approach allows remote scanning and sharing of slides, enhancing efficiency and reducing study timelines. The partnership with Deciphex aims to modernize toxicologic pathology processes, especially crucial amid COVID-19 travel restrictions. The digital peer review process promises to deliver reliable data and streamline operations, ultimately benefiting clients with cost savings and improved service delivery.
PathoQuest SAS and Charles River Laboratories have announced the establishment of a U.S. subsidiary, PathoQuest, Inc., along with a new next generation sequencing (NGS) testing laboratory in Wayne, PA. This initiative aims to enhance rapid viral safety testing for biologics, including advanced therapeutic medicinal products (ATMPs) and vaccines. The facility will align with PathoQuest's Paris lab and will adhere to CGMP standards. Construction is set to begin late 2020, with services expected in 2021, bolstering North American biotech companies’ testing capabilities.
Charles River Laboratories International, Inc. (NYSE: CRL) will present at three virtual investor conferences. Key dates include the Credit Suisse 29th Annual Virtual Healthcare Conference on November 10 at 10:15 a.m. EST, the Jefferies Virtual London Healthcare Conference on November 18 at 2:40 p.m. GMT, and the Evercore ISI 3rd Annual HealthCONx Conference on December 2 at 9:40 a.m. EST.
Management will discuss 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 post-event.
Charles River Laboratories International, Inc. (NYSE: CRL) has appointed George Llado as a new member of its Board of Directors. Llado, who previously served as Senior Vice President and CIO at Alexion Pharmaceuticals, brings over 30 years of IT and cybersecurity experience in the biopharmaceutical sector. He will serve on the Corporate Governance and Nominating Committee, as well as the Compensation Committee. His expertise is expected to enhance Charles River's digital strategies and improve client experiences.
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.?
