Charles River Laboratories has convinced the CEO of Memorial Sloan-Kettering Cancer Center to join its board of directors, leading a new committee to ensure the CRO stays on the cutting edge of science.
Despite ongoing slowness in the market for early-stage research, preclinical specialist Charles River Laboratories boosted its revenue and income in the third quarter, a credit to its continued cost cuts and gains in market share, the company said.
Theorem Clinical Research has struck a deal with Charles River Laboratories, adding the early-phase-focused CRO's capabilities to its drug development platform.
They don't make compounds like the used to--or at least at the same rate. And with fewer and fewer early-stage molecules moving through pipelines, some discovery-focused CROs have been left in the lurch.
Preclinical specialist Charles River Labs posted solid revenue growth despite a tough market for early-phase services, but a spike in charges pulled down net income on an otherwise strong second quarter.
Charles River Labs saw its net profits decline about 2.3% last quarter, as risings costs negated 1.8% revenue growth.
Charles River Labs had a rough go in sales in the fourth quarter, but the company says rising demand and better exchange rates will make for 2013 revenue growth between 4% and 6%, an increase over its previous estimates.
Investors were none too pleased with Charles River Laboratories' outlook for 2013, as the CRO fell as much as 8% after projecting growth below analyst estimates.
Charles River Laboratories has inked a $27 million deal for 75% of Chinese research model design company Vital River.
What is AZ looking for in potential partners as it doubles down on drug development? We asked Menelas Pangalos, the company's executive vice president for innovative medicines.