Charles Riv Labs Intl Inc Stock Price, News & Analysis

Charles River Laboratories (NYSE: CRL) announced its acquisition of Vigene Biosciences for $292.5 million in cash, with potential additional payments of $57.5 million based on performance. The deal aims to enhance Charles River's gene therapy capabilities, specifically in viral vector manufacturing, supporting growth in the high-value cell and gene therapy market, which is projected to reach $2.5 billion and grow at 25% annually over the next five years. The transaction is expected to close in Q3 2021, pending regulatory approvals.

Charles River Laboratories (NYSE: CRL) reported Q1 2021 revenue of $824.6 million, a 16.6% increase from Q1 2020. Acquisitions contributed 0.7% and foreign currency translation 2.9% to this growth. Organic revenue rose 13.0%. Net income attributable to shareholders was $61.5 million, up 21.2%, with diluted GAAP EPS of $1.20 (up 17.6%). Non-GAAP net income from continuing operations was $129.2 million, a 40.7% increase, yielding non-GAAP EPS of $2.53 (up 37.5%). Strong demand driven by scientific innovation enhanced performance across segments.

Charles River Laboratories (NYSE: CRL) will announce its Q1 2021 financial results on May 4, 2021, before market opening, with a conference call at 9:00 a.m. ET. Additionally, an Investor Day virtual meeting is set for May 27, 2021, at 8:30 a.m. ET, featuring senior management presentations on strategic focus and updated financial targets. Investors can access the webcasts via the company's Investor Relations website. This event showcases the company's commitment to supporting pharmaceutical and biotech research and development.

Charles River Laboratories and Valence Discovery have formed a strategic partnership, enabling clients to utilize Valence's advanced AI platform for molecular property prediction, generative chemistry, and multiparameter optimization.

Charles River Laboratories (NYSE: CRL) has acquired Retrogenix Limited, a UK-based early-stage contract research organization specializing in bioanalytical services through cell microarray technology. The purchase price is approximately £35 million ($48 million) with a potential additional £5 million ($7 million) based on performance. This acquisition enhances Charles River's capabilities in large molecule and cell therapy discovery, positioning it as a premier provider in drug research services. The integration of Retrogenix is not expected to materially affect financial results in 2021.

Charles River Laboratories (NYSE: CRL) has completed its acquisition of Cognate BioServices for around $875 million. This strategic acquisition positions Charles River as a leading partner in cell and gene therapy development, offering integrated solutions from research to production. Cognate, based in Memphis, enhances Charles River's capabilities across major CDMO platforms, streamlining manufacturing and testing for clients. The deal aims to accelerate market entry for clients and expand growth potential in the high-growth cell and gene therapy sector.

Charles River Laboratories (NYSE: CRL) has successfully closed a $1 billion offering of senior notes, comprising $500 million in 3.750% notes due 2029 and $500 million in 4.000% notes due 2031. The proceeds will primarily be used to redeem 5.5% senior notes due 2026 and finance the acquisition of Cognate BioServices. The notes are unregistered and offered only to qualified institutional buyers. Forward-looking statements are included, indicating potential risks and uncertainties affecting future results.

Charles River Laboratories (NYSE: CRL) announced a private offering of senior notes totaling $1 billion: $500 million in 3.750% senior notes due 2029 and $500 million in 4.000% senior notes due 2031. The offering, priced at 100% of principal, is set to settle on March 23, 2021. Proceeds will be used to redeem 5.5% senior notes due 2026 and fund part of the purchase price for its acquisition of Cognate BioServices, Inc. The notes will not be registered under the Securities Act, limiting their sale to qualified institutional buyers.

Charles River Laboratories (NYSE: CRL) announced plans to offer $1 billion in senior notes due 2029 and 2031, subject to market conditions. The proceeds will be utilized to redeem existing 5.5% senior notes due 2026 and to finance part of the proposed acquisition of Cognate BioServices. The offering is unregistered and will only be available to qualified institutional buyers and non-U.S. persons. This press release includes forward-looking statements and cautions investors about associated risks and uncertainties that may affect actual results.