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Publish Date : 22-Oct-2018

Charles River Laboratories International, Inc. announced that it was awarded a five-year, $95.7 million contract by the National Institute of Allergy and Infectious Diseases (NIAID), which is one of the largest institutes of the National Institutes of Health (NIH). Under NIAIDs Division of Intramural Research animal care program, Charles River will manage and provide staffing for NIAIDs on-site vivarium and related research model operations. The program is required to ensure the humane care and use of research models, and the efficient management of NIAIDs research model operations.

James C. Foster, Chairman, President and Chief Executive Officer of Charles River, said, We are very pleased to be awarded this significant contract by NIAID and look forward to establishing a collaborative relationship to support NIAIDs critical biomedical research programs across a range of scientific disciplines. Charles Rivers focus on science, research model care, and productivity will enable NIAID to streamline its research by delivering operational and cost efficiencies through strategic insourcing. We believe that an increasing number of government and academic institutions, as well as biopharmaceutical clients, understand the value of utilizing our flexible and efficient staffing solutions.

The contract was awarded on April 20, 2018, and commenced on September 14, 2018. The initial period of the contract runs through September 13, 2019, and it includes annual renewal options to extend the contract for an additional four years through September 13, 2023. The Company expects this new contract to generate incremental revenue of approximately $18 million over the initial twelve-month period, with modest increases in each of the subsequent periods. The contract is not expected to have a meaningful impact on the Companys 2018 financial results because its start date was near the end of the third quarter.

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