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Print Edition StoriesMonday, October 19, 2009
Charles River lays off 115 in Canada
By Brendan Lynch
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Biomedical research product and services giant Charles River Laboratories reports it has laid off 115 people from its Montreal-based facility. Charles River (NYSE: CRL) said the recession caused some of its customers to postpone their R&D plans, leading to the layoffs. The company still employs about 1,480 people in Montreal.
In 2007, Charles River expanded its contract research business in Canada. At the time, the Wilmington-based provider of animals used in drug tests built a 300,000-square-foot-facility for preclinical studies in Sherbrooke, Quebec.
Last year, the company was expanding. Charles River opened a 60,000 square-foot faciility in Shanghai to support growing demand from it clients for outsourced drug development services. The company said the market was attractive due to China’s large population and increasingly educated work force.
Around the same time, it acquired the imaging services firm MIR Preclinical Services for $12.5 million in cash. The company also bought NewLab BioQuality AG, a safety and quality control services provider in Germany for an undisclosed amount.
The company also opened a 52,000 square-foot facility in Frederick, Md., where it works with the National Cancer Institute to provide genetically defined, pathogen-free mice to target the causes and treatments of infectious diseases, metabolic diseases, cancer, bioterrorism threats and other health issues.
Charles River reported a net income of $34.2 million for the quarter ending June 27, 2009.
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