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Charles River Labs ( (CRL) ) has provided an update.
Charles River Laboratories announced that it will present at the 43rd Annual J.P. Morgan Healthcare Conference on January 14, 2025, discussing its strategic focus and preliminary financial outlook for 2025. The company expects a decline in 2025 revenue, influenced by factors such as constrained spending from global biopharma clients and lower commercial CDMO revenue. Recent trends in the Discovery and Safety Assessment segment indicate stable demand, but the CDMO business faces challenges, including the termination of a major client agreement, prompting Charles River to assess asset recoverability for potential impairment. The company remains optimistic about long-term growth opportunities in its CDMO business despite current headwinds.
More about Charles River Labs
Charles River Laboratories International, Inc. operates in the healthcare industry, providing services related to drug discovery, development, and manufacturing through its contract development and manufacturing organization (CDMO) business. The company focuses on supporting research and development in the pharmaceutical and biotechnology sectors, with an emphasis on cell and gene therapy products.
YTD Price Performance: 4.11%
Average Trading Volume: 674,754
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $9.52B
Learn more about CRL stock on TipRanks’ Stock Analysis page.
