Welcome to our dedicated page for Charles Riv Labs Intl news (Ticker: CRL), a resource for investors and traders seeking the latest updates and insights on Charles Riv Labs Intl stock.
News about Charles River Laboratories International, Inc. (NYSE: CRL) focuses on its role in research and development in biotechnology and its activities as a contract research and manufacturing partner to pharmaceutical, biotechnology, government, and academic clients. Company updates often highlight how Charles River’s research models, discovery and safety assessment services, and manufacturing solutions support the discovery, early-stage development, and safe manufacture of new therapies.
Investors and industry followers can expect frequent news on strategic transactions and partnerships. Recent announcements include planned acquisitions such as K.F. (Cambodia) Ltd., a provider of non-human primates for regulatory-required biomedical, pharmaceutical, and toxicological research, and PathoQuest SAS, a provider of next-generation sequencing solutions for manufacturing quality-control testing. The company also reports collaborations, for example with The Francis Crick Institute on antibody-drug conjugate discovery and with X-Chem, Inc. to expand hit identification capabilities using DNA-encoded library technology.
Charles River’s news flow also covers scientific and operational initiatives. The company has announced the creation of a Scientific Advisory Board led by Dr. Namandjé N. Bumpus to advance New Approach Methodologies (NAMs) and reduce reliance on animal testing, as well as the expansion of its Cell & Gene Therapy Incubator Program to support early-stage advanced therapy developers and enabling technology companies. Updates on its strategic review, portfolio refinement, restructuring initiatives, and capital deployment plans provide additional context on long-term positioning and financial priorities.
Governance and leadership developments are another recurring theme, such as the planned CEO succession and the appointment of a Chief Scientific and Innovation Officer. Earnings releases and conference presentations offer insight into demand trends across the Research Models and Services, Discovery and Safety Assessment, and Manufacturing Solutions segments. For readers tracking CRL, this news page brings together these earnings updates, transaction announcements, scientific collaborations, and strategic milestones in one place.
Charles River Laboratories (CRL) reported a strong Q2 2021, with revenue reaching $914.6 million, a 34% increase from Q2 2020. Acquisitions contributed 6% and foreign currency translation increased revenue by 3.9%. Organic growth stood at 24.1%, driven by all business segments, especially Research Models and Services, which saw 51.6% growth. Net income grew to $88.4 million and diluted earnings per share rose to $1.72, marking increases of 31.2% and 28.4% respectively. The company also raised its full-year guidance, anticipating strong demand to continue.
Charles River Laboratories (NYSE: CRL) will announce its second-quarter 2021 financial results on August 4, 2021, prior to market opening. A conference call to discuss these results is scheduled for the same day at 9:30 a.m. ET. Investors can access a live webcast of the call via the Investor Relations section of the company's website, where a replay will also be available.
Charles River supports pharmaceutical, biotech, and academic clients globally, enhancing research and drug development.
Charles River Laboratories (NYSE: CRL) has completed its acquisition of Vigene Biosciences for $292.5 million in cash, with potential additional payments of $57.5 million based on future performance. Vigene is a gene therapy contract development and manufacturing organization specializing in viral vector-based gene delivery solutions. This acquisition enhances Charles River's capabilities in cell and gene therapy, allowing clients to streamline analytical testing, process development, and manufacturing. CEO James C. Foster emphasizes that this positions Charles River as a premier partner in a high-growth market.
Duke Energy Sustainable Solutions announces the construction of the 250 MW Pisgah Ridge Solar project in Navarro County, Texas, set to become their largest utility-scale solar facility. The project has attracted virtual power purchase agreements (VPPAs) from Charles River Laboratories for 102 MW, aiming for 100% renewable electricity by 2023. Expected to generate enough power for 63,000 homes, the facility will create 200-300 construction jobs and provide tax revenue for local schools. Duke plans to double its renewable portfolio to 16 GW by 2025.
Charles River Laboratories International, Inc. (NYSE: CRL) has secured a long-term solar energy contract with Duke Energy Sustainable Solutions, committing to meet its North American electric power needs with renewable energy by 2023. This includes a 15-year, 102 MW virtual power purchase agreement (VPPA) linked to the 250 MW Pisgah Ridge Solar project in Texas, projected to generate around 250,000 MWh of clean energy annually. The agreement aligns with Charles River's goal of achieving 100% renewable electricity globally by 2030, with targeted reductions in greenhouse gas emissions.
Charles River Laboratories (NYSE: CRL) announced its participation in three virtual investor conferences. The events include the Jefferies Virtual Healthcare Conference on June 1 at 10:00 a.m. ET, the William Blair 41st Annual Growth Stock Conference on June 2 at 11:00 a.m. ET, and the Goldman Sachs 42nd Annual Global Healthcare Conference on June 10 at 11:20 a.m. ET. Management will discuss strategic focus and business developments. Webcasts of the presentations will be available on the Investor Relations section of Charles River's website for two weeks after.
Charles River Laboratories (NYSE: CRL) will host a virtual Meeting with Management on May 27th at 8:30 a.m. ET. The event will feature presentations from senior management focused on the Company's strategic direction, business developments, and financial outlook, particularly highlighting advancements in cell and gene therapy. Investors can access the live webcast via the Investor Relations section of their website, with a slide presentation available at 8:00 a.m. ET on the same day. A replay will be provided post-event.
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.