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Charles River cutting staff as GLP tox continues to stutter

02-Nov-2011

Charles River is cutting headcount by two per cent this quarter in response to declining sales of preclinical services.

Net sales of preclinical services fell five per cent year-on-year as Charles River continues to face weak demand for GLP (good laboratory practice) toxicology. The two per cent reduction in headcount will focus on preclinical services as Charles River adapts to lower than hoped future demand.

 

John Kreger, equity analyst at William Blair, said: “We believe demand for GLP toxicology testing has been perhaps permanently reduced by sponsors’ decisions to delay many of the tox tests that are necessary for marketing approval until a candidate reaches Phase II or III.”

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