Charles River Laboratories International, Inc. (CRL) is a leading global partner in non-clinical drug development, offering a wide range of products and services to aid in the research, development, and manufacturing of new drugs, devices, and therapies . The company operates through three main segments, providing research models, discovery and safety assessment services, and manufacturing solutions . CRL's diverse portfolio helps clients streamline drug development processes, reduce costs, and accelerate time to market .
- Discovery and Safety Assessment (DSA) - Provides regulated and non-regulated services for drug discovery, non-clinical development, and safety testing, including therapeutic discovery, optimization, and safety assessment studies for various compounds.
- Research Models and Services (RMS) - Produces and sells small and large research models, offering related services such as Insourcing Solutions, Genetically Engineered Models and Services (GEMS), and Research Animal Diagnostic Services (RADS), along with vivarium space rental through the Charles River Accelerator and Development Lab (CRADL).
- Manufacturing Solutions - Includes Microbial Solutions, offering in vitro testing products, and Biologics Solutions, providing specialized testing and contract development and manufacturing services (CDMO) for biologics, including cell and gene therapies.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Birgit Girshick Executive | Chief Operating Officer | None | Birgit Girshick joined CRL in 1989 and has held various leadership roles, becoming COO in 2021. | |
Flavia H. Pease Executive | Corporate Executive Vice President and Chief Financial Officer | None | Flavia H. Pease joined CRL in 2022 as CFO, previously holding senior finance roles at Johnson & Johnson. | |
James C. Foster Executive | Chairman, President, and Chief Executive Officer | None | James C. Foster has been with CRL since 1989 and serves as the Chairman, President, and CEO. | View Report → |
Craig B. Thompson Board | Director | Board Member at Regeneron Pharmaceuticals; Oversees research lab at Sloan Kettering Institute | Craig B. Thompson joined CRL's Board in 2022, with a strong background in scientific research and oncology. | |
Deborah T. Kochevar Board | Director | Director at Elanco Animal Health; Senior Fellow at The Fletcher School of Law and Diplomacy, Tufts University | Deborah T. Kochevar has been a director since 2008, with a background in veterinary medicine and academia. | |
George Llado Board | Director | Board Member at Tracelink Inc.; Board Member at NCWIT; Member of Temple Fox Business School IT Advisory Board | George Llado joined CRL's Board in 2020, with expertise in technology and cybersecurity. | |
Martin W. Mackay Board | Director | Director at Novo Nordisk | Martin W. Mackay has been a director since 2017, with extensive experience in pharmaceutical R&D. | |
Nancy C. Andrews Board | Director | EVP & Chief Scientific Officer at Boston Children’s Hospital; Board Member at Novartis and Maze Therapeutics; Scientific Advisory Board Member at Dyne Therapeutics | Nancy C. Andrews joined CRL's Board in 2020, bringing expertise in oncology, genetics, and pediatric research. | |
Reshema Kemps-Polanco Board | Director | EVP & Chief Commercial Officer at Novartis US; Board Member at Healthcare Leadership Council; Member of HBA Global Advisory Board and CEO Roundtable on Cancer | Reshema Kemps-Polanco joined CRL's Board in 2024, with over 25 years in the pharmaceutical industry. | |
Robert Bertolini Board | Director | None | Robert Bertolini has been a director since 2011, with extensive experience in finance and pharmaceuticals. | |
Virginia M. Wilson Board | Director | Board Member at Carrier Global Corporation | Virginia M. Wilson has been a director since 2019, with over 30 years of financial management experience. |
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With the planned closure or consolidation of approximately 15 smaller sites, how will you ensure that this reduction in global footprint won't limit your capacity to meet client demand when the market rebounds, and what measures are in place to prevent potential revenue loss due to these changes?
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Given that your restructuring initiatives are expected to generate approximately $200 million in cumulative annualized cost savings, eliminating more than 5% of your cost structure, is this sufficient to offset ongoing inflationary pressures and the restoration of incentive compensation, or do you anticipate additional cost-saving measures will be necessary to maintain margins in 2025?
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Can you provide more details on the implementation of the global business service model, specifically how it will streamline processes across functional areas, the expected timeline, and how it will impact your operational efficiency and margins?
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With large pharma clients continuing their cost-saving and reprioritization efforts, and demand from this segment softening in the back half of the year, what is your outlook for demand recovery in 2025, and how are you positioning the company to navigate this uncertain environment?
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In light of Vertex signing an agreement with Lonza for global manufacturing, does this pose a risk to your existing relationship with Vertex, and how do you plan to mitigate the impact of competitors entering agreements with key clients to ensure sustained demand for your services?
Research analysts who have asked questions during CHARLES RIVER LABORATORIES INTERNATIONAL earnings calls.
Casey Woodring
JPMorgan Chase & Co.
4 questions for CRL
David Windley
Jefferies Financial Group Inc.
4 questions for CRL
Elizabeth Anderson
Evercore ISI
4 questions for CRL
Max Smock
William Blair & Company
4 questions for CRL
Michael Ryskin
Bank of America Merrill Lynch
4 questions for CRL
Patrick Donnelly
Citi
4 questions for CRL
Charles Rhyee
TD Cowen
3 questions for CRL
Eric Coldwell
Robert W. Baird & Co.
3 questions for CRL
Justin Bowers
Deutsche Bank AG
3 questions for CRL
Tejas Savant
Morgan Stanley
3 questions for CRL
Ann Hynes
Mizuho Financial Group
2 questions for CRL
Matthew Sykes
Goldman Sachs Group Inc.
2 questions for CRL
Anna Kruszenski
Barclays
1 question for CRL
Daniel Leonard
Stifel Financial Corp.
1 question for CRL
Jacob Johnson
Stephens Inc.
1 question for CRL
Joshua Waldman
Cleveland Research Company
1 question for CRL
Josh Waldman
Cleveland Research Company
1 question for CRL
Kyle Cruise
UBS
1 question for CRL
Luke Sergott
Barclays
1 question for CRL
Matt Sykes
Goldman Sachs Group, Inc.
1 question for CRL
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
SAMDI Tech, Inc. | 2023 | $62.8 million acquisition funded via available cash and credit facility proceeds, including a 20% strategic equity interest valued at $12.6 million, to enhance its Discovery and Safety Assessment segment with a premier high-throughput screening mass spectrometry platform for drug discovery. |
Explora BioLabs Holdings, Inc. | 2022 | $284.5 million acquisition (net of $6.6 million in cash) funded through the company’s Credit Facility, aimed at bolstering the Research Models and Services segment by integrating contract vivarium research services that complement Charles River’s CRADL footprint and support early-stage biopharmaceutical and cell/gene therapy research. |
Recent press releases and 8-K filings for CRL.
- Flavia H. Pease will resign as Corporate Executive Vice President and Chief Financial Officer, effective September 29, 2025, with no disagreements regarding the Company’s financial reporting or practices.
- Michael G. Knell, Corporate Senior Vice President and Chief Accounting Officer, will serve as interim CFO upon Pease’s departure while a permanent successor is sought.
- The Company reaffirms its 2025 revenue and non-GAAP EPS guidance, as previously provided on August 6, 2025, supported by its current Q3 outlook.
- CEO Extension: The Company extended the term of Chair, President and CEO James C. Foster until February 12, 2027 under Amendment No. 1 to his employment agreement.
- Board & Shareholder Votes: At the Annual Meeting on May 20, 2025, seven directors were elected, four board vacancies were filled with new appointments, and shareholders approved advisory votes on executive compensation and auditor ratification.
- Other Voting Outcomes: Shareholders rejected a proposal from PETA regarding the publication of a report on imported non-human primates, highlighting evolving stakeholder priorities.
- Strong Q1 Performance: Consolidated revenue of $984.2 million; GAAP EPS of $0.50 and non-GAAP EPS of $2.34; DSA segment driving improved net bookings (net book-to-bill of 1.04x, $616 million in gross bookings) .
- Operating Margin & Cost Initiatives: Non-GAAP operating margin at 19.1% with aggressive cost-saving measures delivering annualized savings over $175 million, while GAAP margin declined to 7.6% from 12.5% .
- Guidance & Share Repurchase: Revised FY2025 outlook with organic revenue decline expectations between 2.5%-5.5% and raised non-GAAP EPS guidance to $9.30-$9.80; executed a $350 million share repurchase buying back 2.1 million shares .
- Regulatory Update: Reiterated progress in advancing NAMs through a hybrid approach that combines animal testing with alternative methods and highlighted the FDA’s pilot program on monoclonal antibodies .
- Governance Updates: Appointed four new directors – Steven Barg, Abe Ceesay, Mark Enyedy, and Paul Graves – effective after the 2025 Annual Meeting, while four long-standing directors will not seek re-election; additionally, entered a Cooperation Agreement with Elliott Investment Management and initiated a strategic review to enhance long-term shareholder value .
- Government and vaccine-related contracts: The executives noted that while the company has been involved in various vaccine research efforts during COVID, there isn’t clear guidance on current vaccine development projects, making it difficult to determine the size of that exposure.
- DSA business and demand environment: Management described stable demand from big pharma and biotech—with incremental volume opportunities anticipated despite pricing headwinds—indicating a cautious but positive outlook on future bookings and market recovery.
- Outsourcing and manufacturing margin strategies: The company is focused on increasing its outsourced share from ~60% to 80-90%, while also discussing improvements in manufacturing margins (notably high 20s to mid-30s percentages) and efforts to retool segments like CDMO to address competitive challenges.