Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Our dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them.
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|Charles River Laboratories Acquires Agilux Laboratories, Inc.|
– Enhances Charles River’s Early-Stage Capabilities in
The addition of Agilux’s integrated discovery capabilities is complementary to Charles River’s existing nonclinical portfolio. Providing a more comprehensive service offering will improve the efficiency of clients’ early-stage research efforts by enabling them to seamlessly transition their drug candidates through the discovery and safety assessment process. Charles River believes that the acquisition of Agilux enhances its ability to work with clients earlier in the drug research process, and maintain the relationship as molecules progress through nonclinical development.
Financial and Transaction Details
The purchase price was approximately
Agilux will be reported as part of Charles River’s Discovery and Safety Assessment (DSA) segment.
Use of Non-GAAP Financial Measures
This news release contains non-GAAP financial measures, such as non-GAAP
earnings per diluted share, which exclude the amortization of intangible
assets and other charges related to our acquisitions (including expenses
associated with evaluating acquisitions and certain third-party
integration costs). We exclude these items from the non-GAAP financial
measures because they are outside our normal operations. There are
limitations in using non-GAAP financial measures, as they are not
prepared in accordance with generally accepted accounting principles,
and may be different than non-GAAP financial measures used by other
companies. In particular, we believe that the inclusion of supplementary
non-GAAP financial measures in this news release helps investors to gain
a meaningful understanding of our core operating results and future
prospects without the effect of these often-one-time charges, and is
consistent with how management measures and forecasts the Company's
performance, especially when comparing such results to prior periods or
forecasts. We believe that the financial impact of our acquisitions (and
in certain cases, the evaluation of such acquisitions, whether or not
ultimately consummated) is often large relative to our overall financial
performance, which can adversely affect the comparability of our results
on a period-to-period basis. In addition, certain activities, such as
business acquisitions, happen infrequently and the underlying costs
associated with such activities do not recur on a regular basis.
Non-GAAP results also allow investors to compare the Company’s
operations against the financial results of other companies in the
industry who similarly provide non-GAAP results. The non-GAAP financial
measures included in this news release are not meant to be considered
superior to or a substitute for results of operations prepared in
accordance with GAAP. The Company intends to continue to assess the
potential value of reporting non-GAAP results consistent with applicable
rules and regulations. A reconciliation of non-GAAP earnings per share
attributable to the acquisition of
Caution Concerning Forward-Looking Statements
This news release includes forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as “anticipate,”
“believe,” “expect,” “will,” “may,” “estimate,” “plan,” “outlook,” and
“project” and other similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
Forward-looking statements include statements in this news release
regarding the acquisition of
About Charles River
Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Our dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them. To learn more about our unique portfolio and breadth of services, visit www.criver.com.
Charles River Laboratories International, Inc.