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.
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 (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.
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.