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CROs Like Charles River Are Going from Strength to Strength
According to a recent report from Outsourcing Pharma, leading US CRO Charles River Laboratories has reported strong sales in the third financial quarter of this year. Its growth is a strong indicator of just how well CROs are faring in the current market.
CRL spans 17 countries and employs over 8,500 people across the globe. The organisation is comprised of a range of departments and businesses, including its Research Model Services unit and recent acquisitions like ChanTest and Argenta. It posted astonishing earnings in the third financial quarter of 2015.
According to James Foster, the organisation’s Chief Executive, Charles River earned almost $350 million in Q3; this is an improvement of 12% over last year, and an increase of 3% from Q2. This kind of success is a reflection of today’s thriving contract research market. Foster’s information to shareholders included the prediction that the pharmaceutical industry will continue to take advantage of the benefits of outsourcing to CROs. CRL and its In Vivo Discovery sector apparently intend to make the most of this opportunity.
This quarter’s success was a surprise to some, as sales in Japan did not reach the levels hoped for by the company. However, sales in China offset the decline, and the rest of the globe did very well in the service revenue area.
The current environment for CROs is promising in general; the industry has experienced annual growth of 9% since 2010, and the top CROs are well on their way to a 60% market share. Charles River is in a prime position to continue to take advantage of this and propel further expansion. The company certainly has an innovative and open-minded approach – it was announced in June that CRL had implemented the ActualHCA system for preclinical testing.
The ActualHCA system offers considerable advantages for CROs of all sizes, not just global institutions like CRL. In addition to improving observational capability and 3Rs compliance, ActualHCA allows researchers to acquire 90% more data using 50% fewer rodents than standard testing methods.
To read the article on CRL in Outsourcing Pharma, click here. To read more about Charles River’s use of ActualHCA, click here. For more information about ActualHCA, visit our product page or get in touch today.