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    Kyle Cruise • UBS

    Kyle Cruise's questions to Charles River Laboratories International Inc (CRL) leadership

    Kyle Cruise's questions to Charles River Laboratories International Inc (CRL) leadership • Q1 2025

    Question

    Kyle Cruise asked about the end-market demand and competitive positioning within the CDMO business, and inquired about the performance of the Biologics Testing business in the first quarter.

    Answer

    CEO James Foster explained that the Biologics Testing business often sees a seasonal impact in Q1 but remains confident in its performance for the rest of the year. For the CDMO business, he noted that underlying demand is 'pretty good' for both cell and gene therapy, despite headwinds from two large commercial clients, and the company remains committed to growing the business.

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    Kyle Cruise's questions to West Pharmaceutical Services Inc (WST) leadership

    Kyle Cruise's questions to West Pharmaceutical Services Inc (WST) leadership • Q1 2025

    Question

    Kyle Cruise asked if the core EPS guidance increase was driven by restructuring and sought to understand the size of the incremental opportunity from the new drug handling business.

    Answer

    CFO Bernard Birkett clarified that the EPS beat and guidance raise were driven by strong operational performance across the proprietary and contract manufacturing businesses, not just restructuring. CEO Eric Green described drug handling as an exciting but early-stage opportunity that leverages existing customer relationships, noting that the Dublin facility will support it, but did not provide a size for the market.

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