Charles River’s Preclinical Growth Slows, Lowers Guidance

Thursday, November 6, 2008

Wilmington, Mass.-based Charles River Laboratories saw slower than expected sales growth in its Preclinical Services Segment (PCS) during the third quarter, prompting the preclinical contract research organization (CRO) to reduce its 2008 profit and revenue-growth forecasts. Strong sales in Charles River’s Research Models and Services (RMS) segment helped offset the performance of PCS, but the company reduced the high-end of its full-year sales growth percentage forecast by 4%, from 14% to 10%.

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Kendle’s Q3 Revenues Up 25%

Wednesday, November 5, 2008

Cincinnati-based contract research organization (CRO) Kendle reported third quarter net service revenues of $124.8 million, an increase of 25% compared with the same period last year. Approximately 6% of the CRO’s revenue growth resulted from the June acquisition of DecisionLine, a Toronto-based phase I company focused on the central nervous system (CNS).

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eResearch Revenues Up 41.5%, Shares Down 30%

Friday, October 31, 2008

Philadelphia, Pa.-based eResearch Technology saw its revenue growth wane slightly in the third quarter but still maintained a 41.5% increase compared with the same period last year. The eClinical company reported net revenues for the quarter of $33.9 million up from $24 million in the third quarter of last year. Diluted net income per share was $0.13 compared with $0.07 in the third quarter of 2007, and gross margin was $19.1 million.

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PharmaNet Revenues Drop

Thursday, October 30, 2008

PharmaNet Development is the latest contract research organization (CRO) to release disappointing quarterly earnings as a result of contract cancellations, slow sales and negative foreign exchange rates. Princeton, N.J.-based PharmaNet reported a decrease in direct revenue to $89.2 million, down $10 million, or 10.6%, from the same period last year. Almost $1.5 million of that drop was a result of foreign currency exchange translation.

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Preclinical CROs Expand Operations to Shanghai

Monday, October 27, 2008

China has seen significant growth in the area of drug research and development in the past few years, and this growth will continue into the fourth quarter of 2008 with the opening of two new preclinical facilities in Shanghai.

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