2024-02-16 09:06:59 ET
Summary
- Charles River Laboratories achieved only 6.5% organic revenue growth in FY23 due to weakness in the broader life science industry.
- CRL offers a comprehensive range of services to pharmaceutical and biopharmaceutical companies, with a broad customer base and a significant market share.
- CRL's growth drivers include discovery and safety assessment services, the research model industry, and the forecasted growth in the global CRO market.
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Charles River Laboratories: Weak Biopharma Spending Is Transitory; Initiate With 'Hold'