Charles River Labs Shares Fall After Warning on Cambodia Monkey Supply

By Will Feuer

Shares of Charles River Laboratories International Inc. fell in morning trading Wednesday after the non-clinical contract research company warned that supplies of Cambodia-sourced monkeys will likely be challenging for some period of time.

Charles River Labs stock slipped 10% to $215.52. It is down almost 43% this year.

The company on Wednesday morning addressed news earlier this month that the U.S. Department of Justice's indictment of several members, including two officials of the Cambodian Forestry Administration, Ministry of Agriculture, Forestry and Fisheries, of an alleged international monkey smuggling ring. Charles River Labs said it was not named or referenced in the DoJ proceedings, and the company doesn't have any direct supply contracts with the indicted Cambodian supplier.

The company said it has global supply sources, including other sources in Cambodia, which is the primary country of origin for monkey imports in the U.S. and to Charles River Labs.

However, the company said it is operating under the expectation that for some time period, supply of Cambodia-sourced monkeys will be difficult to obtain in the U.S. The company cited the indictment and subsequent statements made by the Cambodian government as reasons for the supply challenges.

The company said it is working to mitigate any supply impact with efforts to procure monkeys under different supply arrangements and from other sources.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

November 30, 2022 11:13 ET (16:13 GMT)

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