Charles Riv Labs Intl Inc Stock Price, News & Analysis

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.

Charles River Laboratories International, Inc. (NYSE: CRL) will announce its third-quarter 2021 financial results on November 3 before market opening. A subsequent conference call is scheduled for 9:00 a.m. ET the same day, accessible via a live webcast on the Company's Investor Relations website. Charles River supports pharmaceutical and biotech firms to expedite research and drug development, offering a range of essential products and services. For further details, visit their website at www.criver.com.

Charles River Laboratories (NYSE: CRL) has divested its Research Models and Services operations in Japan for $63 million and its gene therapy CDMO site in Sweden for $52 million, with potential contingent payments of up to $25 million. The Japan operations generated $46 million in revenue in 2020, while the Sweden site produced $10 million. The divestitures are expected to decrease revenue by nearly $20 million and non-GAAP diluted earnings per share by approximately $0.10 in Q4 2021. Updated financial guidance will be provided in November.

Charles River Laboratories (NYSE: CRL) released its 2021 Healthcare Collaboration Report, showing that 59% of Americans believe the healthcare system is broken. The study, conducted by The Harris Poll, reveals that 64% of respondents see enhanced collaboration as essential for improving healthcare. Key findings indicate 34% view healthcare costs as the primary issue, with 90% agreeing that a united effort is necessary. Additionally, 88% emphasize that future pandemic prevention requires collaboration among various stakeholders.

Charles River Laboratories (NYSE: CRL) will participate in three virtual investor conferences this September. The events include the Wells Fargo 2021 Healthcare Conference on September 9 at 10:00 a.m. EDT, the Morgan Stanley 19th Annual Global Healthcare Conference on September 13 at 10:15 a.m. EDT, and the Baird 2021 Global Healthcare Conference on September 14 at 10:15 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.