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March 26, 2014
07:26 EDTCVD, CRLCharles River Labs Covance outlooks have improved, says RW Baird
After attending the SOT conference, RW Baird believes that Charles River Labs (CRL) and Covance (CVD) are benefiting from multiple positive trends. The firm is increasingly comfortable with the 2014 guidance for Charles River and CVD Early Development, and thinks that current targets could prove conservative. It keeps Outperform ratings on both stocks.
News For CRL;CVD From The Last 14 Days
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November 18, 2015
16:19 EDTCRLCharles River acquires Oncotest GmbH for EUR34M
Charles River has acquired Oncotest GmbH, a Freiburg, Germany-based contract research organization providing discovery services for oncology. Oncotest offers an integrated portfolio of target discovery and validation services for preclinical oncology researchers, specializing in in vivo pharmacology services. The purchase price was approximately EUR34M in cash, approximately $36M at current exchange rates. The transaction includes a potential additional payment of EUR2M based on future performance. The purchase price implies a multiple of approximately 11x adjusted EBITDA based on the trailing twelve months ended September 2015. The acquisition will have a negligible impact on Charles River's consolidated revenue and non-GAAP EPS in Q4. In 2016, Oncotest is expected to represent approximately 1% of Charles River's consolidated revenue and be neutral to slightly accretive to non-GAAP EPS.

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