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Charles River Laboratories International, Inc. provides products and services used in drug discovery, early-stage development, safety assessment, and the manufacture of new therapies. Company news commonly covers results from its Research Models and Services, Discovery and Safety Assessment, and Manufacturing Solutions activities, along with updates on research models, nonclinical toxicology, microbial and biologics testing, and client demand trends.
Recurring developments also include digital pathology initiatives, AI-enabled workflow tools, rat in vitro fertility services, virtual control groups, and the Alternative Methods Advancement Project™, which relate to efficiency and reduced animal use where scientifically appropriate. Financial releases, investor presentations, governance updates, and portfolio changes are also recurring disclosure themes for CRL.
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.
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.