Market Summary
USD198.15-10.48
Market Closed-5.02%
CRL Stock Price
CRL RSI Chart
CRL Valuation
CRL Price/Sales (Trailing)
CRL Profitability
CRL Fundamentals
CRL Revenue
CRL Earnings
Price Action
52 Week Range
181.22262.00
(Low)(High)
Last 7 days
2.5%
Last 30 days
3.8%
Last 90 days
2.2%
Trailing 12 Months
7.4%
CRL Financial Health
CRL Investor Care
Historical Charts for Stock Metrics
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Net sales
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Latest Insider Trading transactions for CRL
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-08-24 | WALLMAN RICHARD F | bought | 198,786 | 198 | 1,000 | - |
2023-08-10 | Knell Michael Gunnar | sold | -318,530 | 216 | -1,471 | csvp&chief accounting officer |
2023-08-10 | FOSTER JAMES C | gifted | - | - | -2,500 | chairman, president and ceo |
2023-08-10 | LaPlume Joseph W | sold | -151,564 | 216 | -700 | evp, corp strategy & develop |
2023-08-10 | Barbo William D | sold | -1,251,950 | 217 | -5,763 | corporate executive vp & cco |
2023-08-10 | Knell Michael Gunnar | acquired | 212,810 | 144 | 1,471 | csvp&chief accounting officer |
2023-08-10 | Barbo William D | acquired | 797,276 | 144 | 5,511 | corporate executive vp & cco |
2023-07-03 | MACKAY MARTIN | acquired | - | - | 95.00 | - |
2023-06-01 | Knell Michael Gunnar | acquired | - | - | 1,528 | csvp&chief accounting officer |
2023-05-31 | MACKAY MARTIN | acquired | - | - | 338 | - |
Which funds bought or sold CRL recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-12 | Farther Finance Advisors, LLC | added | 5.66 | 1,078 | 11,774 | -% |
2023-09-07 | JAG CAPITAL MANAGEMENT, LLC | unchanged | - | 24,598 | 613,509 | 0.07% |
2023-09-05 | Covenant Partners, LLC | unchanged | - | 22,356 | 557,583 | 0.20% |
2023-09-01 | Portside Wealth Group, LLC | new | - | 270,599 | 270,599 | 0.05% |
2023-08-29 | EFG Asset Management (Americas) Corp. | new | - | 229,593 | 229,593 | 0.05% |
2023-08-23 | Stonebridge Capital Advisors LLC | added | 766 | 4,862 | 5,467 | -% |
2023-08-22 | COMERICA BANK | new | - | 24,000 | 24,000 | -% |
2023-08-22 | Asset Dedication, LLC | unchanged | - | 1,000 | 19,000 | -% |
2023-08-21 | BOKF, NA | added | 0.9 | 61,875 | 1,271,380 | 0.03% |
2023-08-21 | VitalStone Financial, LLC | new | - | 1,000 | 1,000 | -% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
Schedule 13G FIlings of Charles River Laboratories International
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Jul 07, 2023 | blackrock inc. | 10.2% | 5,218,752 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 11.71% | 5,956,960 | SC 13G/A | |
| Jan 31, 2023 | fmr llc | - | 0 | SC 13G/A | |
| Jan 24, 2023 | blackrock inc. | 9.8% | 4,981,145 | SC 13G/A | |
| Feb 09, 2022 | fmr llc | - | 0 | SC 13G | |
| Feb 09, 2022 | vanguard group inc | 11.63% | 5,869,125 | SC 13G/A | |
| Jan 28, 2022 | blackrock inc. | 10.1% | 5,080,026 | SC 13G/A | |
| Feb 10, 2021 | vanguard group inc | 10.11% | 5,027,904 | SC 13G/A | |
| Jan 27, 2021 | blackrock inc. | 10.8% | 5,369,613 | SC 13G/A | |
| Jul 10, 2020 | blackrock inc. | 10.8% | 5,341,383 | SC 13G/A |
Recent SEC filings of Charles River Laboratories International
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Aug 29, 2023 | 4 | Insider Trading | |
| Aug 14, 2023 | 4 | Insider Trading | |
| Aug 14, 2023 | 4 | Insider Trading | |
| Aug 14, 2023 | 4 | Insider Trading | |
| Aug 14, 2023 | 4 | Insider Trading | |
| Aug 10, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 10, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 10, 2023 | 144 | Notice of Insider Sale Intent | |
| Aug 09, 2023 | 8-K | Current Report | |
| Aug 09, 2023 | 10-Q | Quarterly Report |
CRL Fair Value
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Peers (Alternatives to Charles River Laboratories International)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
IQV | 37.6B | 14.7B | -4.17% | 2.88% | 34.32 | 2.56 | 3.86% | -5.52% |
A | 32.2B | 7.0B | -5.38% | -12.23% | 28.38 | 4.6 | 5.03% | -14.68% |
ILMN | 21.9B | 4.5B | -17.36% | -28.94% | -5.22 | 4.9 | -4.92% | -21931.58% |
CRL | 10.2B | 4.2B | 3.84% | 7.44% | 20.99 | 2.43 | 13.29% | 9.18% |
| MID-CAP | ||||||||
MEDP | 7.8B | 1.7B | 3.55% | 63.62% | 28.97 | 4.65 | 30.05% | 28.37% |
SYNH | 4.4B | 5.4B | 0.56% | -14.23% | 62.28 | 0.82 | 0.01% | -74.39% |
ARWR | 2.9B | 256.2M | -5.82% | -20.18% | -15.97 | 11.29 | 2.51% | -17.66% |
NEO | 1.6B | 551.6M | -11.36% | 31.23% | -13.84 | 2.88 | 12.73% | 21.90% |
| SMALL-CAP | ||||||||
AVXL | 589.3M | - | -11.38% | -21.30% | -11.41 | 6.7K | - | -13.75% |
PGEN | 357.7M | 22.1M | -13.04% | -47.76% | 16.15 | 16.18 | 43.14% | 124.16% |
SRNE | 170.9M | 66.2M | -71.28% | -88.95% | -0.25 | 2.73 | 20.37% | -7.56% |
CDXS | 118.7M | 99.2M | -1.73% | -74.89% | -2.09 | 1.2 | -26.56% | -199.52% |
PSNL | 64.0M | 67.1M | -25.42% | -59.63% | -0.58 | 0.95 | -12.13% | -17.68% |
Charles River Laboratories International News
Returns for CRL
Cumulative Returns on CRL
16.3%
10-Year Cumulative Returns
14.3%
7-Year Cumulative Returns
10.2%
5-Year Cumulative Returns
-1.7%
3-Year Cumulative Returns
Risks for CRL
What is the probability of a big loss on CRL?
56.1%
Probability that Charles River Laboratories International stock will be more than 20% underwater in next one year
42.7%
Probability that Charles River Laboratories International stock will be more than 30% underwater in next one year.
36.5%
Probability that Charles River Laboratories International stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does CRL drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Charles River Laboratories International was unfortunately bought at previous high price.
Drawdowns
Financials for Charles River Laboratories International
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | 2.1% | 4,178 | 4,092 | 3,976 | 3,781 | 3,688 | 3,630 | 3,540 | 3,426 | 3,273 | 3,041 | 2,924 | 2,824 | 2,749 | 2,724 | 2,621 | 2,532 | 2,449 | 2,377 | 2,266 | 2,143 | 2,022 |
| S&GA Expenses | 9.9% | 758 | 690 | 665 | 610 | 574 | 614 | 620 | 619 | 599 | 555 | 529 | 516 | 517 | 525 | 518 | 495 | 478 | 463 | 444 | 431 | 410 |
| EBITDA | -100.0% | - | 1,013 | 986 | - | 809 | 814 | 820 | - | - | 787 | 768 | 608 | 587 | 580 | 563 | 515 | 518 | - | - | - | - |
| EBITDA Margin | -100.0% | - | 0.25* | 0.25* | - | 0.22* | 0.22* | 0.23* | - | - | 0.26* | 0.26* | 0.22* | 0.21* | 0.21* | 0.21* | 0.20* | 0.21* | - | - | - | - |
| Interest Expenses | 37.2% | 116 | 84.00 | 59.00 | 36.00 | 41.00 | 54.00 | 74.00 | 96.00 | 98.00 | 101 | 86.00 | 78.00 | 64.00 | 66.00 | 61.00 | 53.00 | 65.00 | 63.00 | 64.00 | 55.00 | 45.00 |
| Earnings Before Taxes | - | - | - | 623 | - | - | - | 481 | - | - | - | 447 | - | - | - | 304 | 274 | 274 | 285 | 282 | 276 | 275 |
| EBT Margin | -100.0% | - | 0.15* | 0.16* | - | 0.13* | 0.13* | 0.14* | - | - | 0.15* | 0.15* | 0.11* | 0.11* | 0.11* | 0.12* | 0.11* | 0.11* | - | - | - | - |
| Net Income | -2.5% | 484 | 496 | 486 | 436 | 443 | 422 | 391 | 397 | 396 | 375 | 364 | 301 | 271 | 248 | 252 | 231 | 219 | 229 | 226 | 137 | 129 |
| Net Income Margin | -100.0% | - | 0.12* | 0.12* | 0.12* | 0.12* | 0.12* | 0.11* | 0.12* | 0.12* | 0.12* | 0.12* | 0.11* | 0.10* | 0.09* | 0.10* | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 626 | 620 | 614 | 656 | 693 | 761 | 670 | 672 | 648 | 547 | 589 | 567 | 535 | 481 | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | 0.9% | 7,772 | 7,699 | 7,603 | 7,383 | 7,529 | 7,075 | 7,024 | 7,058 | 6,720 | 5,809 | 5,491 | 5,213 | 5,241 | 5,202 | 4,693 | 4,583 | 4,625 | 3,927 | 3,856 | 3,797 | 3,866 |
| Current Assets | 3.9% | 1,505 | 1,448 | 1,439 | 1,415 | 1,393 | 1,333 | 1,274 | 1,379 | 1,268 | 1,423 | 1,201 | 1,140 | 1,235 | 1,208 | 1,021 | 972 | 1,010 | 866 | 898 | 838 | 890 |
| Cash Equivalents | -0.6% | 200 | 202 | 234 | 194 | 207 | 242 | 246 | 213 | 223 | 465 | 228 | 243 | 402 | 372 | 240 | 165 | 201 | 126 | 197 | 139 | 192 |
| Inventory | 8.6% | 285 | 263 | 256 | 262 | 257 | 221 | 199 | 182 | 194 | 194 | 186 | 181 | 168 | 163 | 161 | 156 | 135 | 130 | 128 | 126 | 124 |
| Net PPE | - | - | - | - | - | - | - | - | - | - | - | 1,124 | - | - | 1,033 | 1,044 | 1,008 | 1,006 | 907 | 909 | 897 | 896 |
| Goodwill | 0.5% | 2,917 | 2,902 | 2,850 | 2,776 | 2,860 | 216 | 2,712 | 2,736 | 240 | 612 | 72.00 | 1,778 | 1,736 | 1,732 | 210 | 1,522 | 1,527 | 1,246 | 1,247 | - | - |
| Liabilities | -1.5% | 4,472 | 4,543 | 4,579 | 4,711 | 4,836 | 4,404 | 4,432 | 4,594 | 4,366 | 3,593 | 3,347 | 3,288 | 3,460 | 3,522 | 3,026 | 3,018 | 3,147 | 2,505 | 2,518 | 2,523 | 2,664 |
| Current Liabilities | 2.7% | 1,008 | 981 | 1,092 | 1,014 | 1,048 | 994 | 1,033 | 984 | 930 | 803 | 840 | 787 | 728 | 691 | 710 | 682 | 636 | 530 | 558 | 540 | 518 |
| Long Term Debt | -2.4% | 2,678 | 2,744 | 2,708 | 2,937 | 2,997 | 2,676 | 2,664 | 2,893 | 2,727 | 2,202 | 1,930 | 1,968 | 2,207 | 2,327 | 1,850 | 1,883 | 2,040 | 1,541 | 1,637 | 1,653 | 1,796 |
| Shareholder's Equity | 4.4% | 3,252 | 3,114 | 2,976 | 2,627 | 2,653 | 2,615 | 2,539 | 2,432 | 2,323 | 2,188 | 2,118 | 1,901 | 1,757 | 1,656 | 1,638 | 1,536 | 1,458 | 1,401 | 1,320 | 1,257 | 1,185 |
| Retained Earnings | 6.3% | 1,633 | 1,536 | 1,433 | 1,280 | 1,183 | 1,074 | 981 | 879 | 775 | 687 | 625 | 501 | 399 | 331 | 280 | 214 | 141 | 97.00 | 42.00 | 460 | 400 |
| Additional Paid-In Capital | 1.1% | 1,850 | 1,830 | 1,805 | 1,781 | 1,761 | 1,745 | 1,718 | 1,720 | 1,691 | 1,660 | 1,628 | 1,614 | 1,590 | 1,563 | 1,532 | 1,515 | 1,498 | 1,481 | 1,448 | 2,625 | 2,609 |
| Shares Outstanding | 0.2% | 51.00 | 51.00 | 51.00 | 51.00 | 51.00 | 51.00 | 50.00 | 50.00 | 50.00 | 50.00 | 50.00 | 50.00 | 50.00 | 49.00 | 49.00 | 49.00 | 49.00 | 48.00 | 48.00 | 48.00 | 48.00 |
| Minority Interest | 10.7% | 6.00 | 5.00 | 5.00 | 6.00 | 5.00 | 5.00 | 4.00 | 5.00 | 5.00 | 4.00 | 4.00 | 5.00 | 4.00 | 4.00 | 3.00 | 4.00 | 3.00 | 3.00 | 2.00 | 4.00 | 3.00 |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | -0.2% | 625 | 626 | 620 | 614 | 656 | 693 | 761 | 670 | 672 | 648 | 547 | 589 | 567 | 535 | 481 | 440 | 402 | 396 | 441 | 425 | 368 |
| Share Based Compensation | 1.8% | 74.00 | 72.00 | 74.00 | 71.00 | 71.00 | 73.00 | 71.00 | 68.00 | 63.00 | 59.00 | 56.00 | 55.00 | 52.00 | 55.00 | 57.00 | 55.00 | 53.00 | 50.00 | 47.00 | 47.00 | 47.00 |
| Cashflow From Investing | 56.8% | -293 | -678 | -607 | -643 | -905 | -1,397 | -1,437 | -1,535 | -1,251 | -325 | -601 | -583 | -574 | -1,074 | -681 | -681 | -653 | -951 | -955 | -916 | -937 |
| Cashflow From Financing | -8853.6% | -346 | -3.87 | -42.40 | -12.41 | 218 | 465 | 673 | 832 | 385 | -237 | 47.00 | 67.00 | 203 | 780 | 232 | 272 | 258 | 504 | 558 | 504 | 651 |
| Buy Backs | 2.1% | 24.00 | 24.00 | 39.00 | 39.00 | 39.00 | 39.00 | 41.00 | 41.00 | 40.00 | 36.00 | 24.00 | 24.00 | 24.00 | 24.00 | 18.00 | 18.00 | 18.00 | 18.00 | 14.00 | 14.00 | 50.00 |
CRL Income Statement
2023-07-01CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jul. 01, 2023 | Jun. 25, 2022 | Jul. 01, 2023 | Jun. 25, 2022 | |
| Total revenue | $ 1,059,937 | $ 973,131 | $ 2,089,310 | $ 1,887,060 |
| Costs and expenses: | ||||
| Selling, general and administrative | 199,758 | 131,711 | 374,604 | 281,744 |
| Amortization of intangible assets | 34,274 | 37,604 | 69,190 | 75,611 |
| Operating income | 164,945 | 187,411 | 332,837 | 336,189 |
| Other income (expense): | ||||
| Interest income | 1,426 | 188 | 2,232 | 315 |
| Interest expense | (35,044) | (3,703) | (69,424) | (13,137) |
| Other expense, net | (2,663) | (39,783) | (5,940) | (68,408) |
| Income before income taxes | 128,664 | 144,113 | 259,705 | 254,959 |
| Provision for income taxes | 29,221 | 33,449 | 56,308 | 49,069 |
| Net income | 99,443 | 110,664 | 203,397 | 205,890 |
| Less: Net income attributable to noncontrolling interests | 2,423 | 1,343 | 3,246 | 3,547 |
| Net income attributable to common shareholders | $ 97,020 | $ 109,321 | $ 200,151 | $ 202,343 |
| Earnings per common share | ||||
| Basic (in dollars per share) | $ 1.89 | $ 2.15 | $ 3.91 | $ 3.99 |
| Diluted (in dollars per share) | $ 1.89 | $ 2.13 | $ 3.90 | $ 3.94 |
| Weighted-average number of common shares outstanding: | ||||
| Basic (in shares) | 51,216 | 50,823 | 51,157 | 50,732 |
| Diluted (in shares) | 51,467 | 51,283 | 51,382 | 51,293 |
| Service | ||||
| Total revenue | $ 874,891 | $ 782,827 | $ 1,732,257 | $ 1,503,312 |
| Costs and expenses: | ||||
| Cost of services provided and products sold (excluding amortization of intangible assets) | 578,099 | 522,623 | 1,143,576 | 1,009,487 |
| Product | ||||
| Total revenue | 185,046 | 190,304 | 357,053 | 383,748 |
| Costs and expenses: | ||||
| Cost of services provided and products sold (excluding amortization of intangible assets) | $ 82,861 | $ 93,782 | $ 169,103 | $ 184,029 |
CRL Balance Sheet
2023-07-01CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands | Jul. 01, 2023 | Dec. 31, 2022 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 200,445 | $ 233,912 |
| Trade receivables and contract assets, net of allowances for credit losses of $18,040 and $11,278, respectively | 800,646 | 752,390 |
| Inventories | 285,280 | 255,809 |
| Prepaid assets | 105,020 | 89,341 |
| Other current assets | 113,389 | 107,580 |
| Total current assets | 1,504,780 | 1,439,032 |
| Property, plant and equipment, net | 1,529,640 | 1,465,655 |
| Venture capital and strategic equity investments | 300,281 | 311,602 |
| Operating lease right-of-use assets, net | 397,192 | 391,762 |
| Goodwill | 2,916,593 | 2,849,903 |
| Intangible assets, net | 929,890 | 955,275 |
| Deferred tax assets | 38,540 | 41,262 |
| Other assets | 155,465 | 148,279 |
| Total assets | 7,772,381 | 7,602,770 |
| Current liabilities: | ||
| Accounts payable | 140,204 | 205,915 |
| Accrued compensation | 190,802 | 197,078 |
| Deferred revenue | 257,396 | 264,259 |
| Accrued liabilities | 220,704 | 219,758 |
| Other current liabilities | 198,517 | 204,575 |
| Total current liabilities | 1,007,623 | 1,091,585 |
| Long-term debt, net and finance leases | 2,678,472 | 2,707,531 |
| Operating lease right-of-use liabilities | 401,628 | 389,745 |
| Deferred tax liabilities | 207,404 | 215,582 |
| Other long-term liabilities | 177,252 | 174,822 |
| Total liabilities | 4,472,379 | 4,579,265 |
| Commitments and contingencies (Notes 2, 8, 10, and 12) | ||
| Redeemable noncontrolling interest | 42,447 | 42,427 |
| Equity: | ||
| Preferred stock, $0.01 par value; 20,000 shares authorized; no shares issued and outstanding | 0 | 0 |
| Common stock, $0.01 par value; 120,000 shares authorized; 51,370 shares issued and 51,266 shares outstanding as of July 1, 2023, and 50,944 shares issued and outstanding as of December 31, 2022 | 513 | 509 |
| Additional paid-in capital | 1,850,385 | 1,804,940 |
| Retained earnings | 1,633,052 | 1,432,901 |
| Treasury stock, at cost, 104 and zero shares, as of July 1, 2023 and December 31, 2022, respectively | (23,978) | 0 |
| Accumulated other comprehensive loss | (208,269) | (262,057) |
| Total equity attributable to common shareholders | 3,251,703 | 2,976,293 |
| Noncontrolling interests (nonredeemable) | 5,852 | 4,785 |
| Total equity | 3,257,555 | 2,981,078 |
| Total liabilities, redeemable noncontrolling interests and equity | $ 7,772,381 | $ 7,602,770 |
Charles River Laboratories International, Inc., a non-clinical contract research organization, provides drug discovery, non-clinical development, and safety testing services in the United States, Europe, Canada, the Asia Pacific, and internationally. It operates through three segments: Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing). The RMS segment produces and sells rodent research model strains and purpose-bred rats and mice for use by researchers. This segment also provides a range of services to assist its clients in supporting the use of research models in research and screening non-clinical drug candidates, including research models, genetically engineered models and services, insourcing solutions, and research animal diagnostic services. The DSA segment offers early and in vivo discovery services for the identification and validation of novel targets, chemical compounds, and antibodies through delivery of non-clinical drug and therapeutic candidates ready for safety assessment; and safety assessment services, such as toxicology, pathology, safety pharmacology, bioanalysis, drug metabolism, and pharmacokinetics services. The Manufacturing segment provides in vitro methods for conventional and rapid quality control testing of sterile and non-sterile pharmaceuticals and consumer products. This segment also offers specialized testing of biologics that are outsourced by pharmaceutical and biotechnology companies; and avian vaccine services that provide specific-pathogen-free (SPF) fertile chicken eggs, SPF chickens, and diagnostic products used to manufacture vaccines. The company also provides contract vivarium operation services to biopharmaceutical clients. Charles River Laboratories International, Inc. was founded in 1947 and is headquartered in Wilmington, Massachusetts.