Charles Riv Labs Intl Inc Stock Price, News & Analysis

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.

Charles River Laboratories (NYSE: CRL) will present virtually at the Barclays Global Healthcare Conference on March 10^th, at 10:20 a.m. ET. The presentation will cover the company's strategic focus and recent business developments. Investors can access the live webcast via the Investor Relations section of the Charles River website, with a replay available for two weeks post-event. Charles River is committed to supporting pharmaceutical and biotech companies in research and drug development, ensuring timely advancements in therapies for patients.

Charles River Laboratories (NYSE: CRL) has partnered with Kibur Medical to provide exclusive access to Kibur’s implantable microdevice (IMD) for in vivo preclinical oncology studies. Kibur’s IMD can simultaneously test up to 20 compounds, allowing researchers to evaluate drug interactions, optimize doses, and expedite testing for oncology therapies. This collaboration aims to enhance early-stage preclinical testing, significantly providing a data-driven approach to cancer drug development, which traditionally faces a 97% failure rate.

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.