查尔斯河 2025年度报告

CHARLES RIVER LABORATORIES | ANNUAL REPORT2025 Jim Foster: A Career Dedicated to Growth, Business Transfor mation, and Culture Earlier this year, James C. “Jim” Foster announced his plannedretirement as Chair, President, and Chief Executive Officer of CharlesRiver Laboratories following a distinguished career spanning fivedecades with the Company, including more than 30 years as CEO.Jim’s leadership has been instrumental in transforming CharlesRiver into one of the world’s leading partners for non-clinical drugdevelopment and manufacturing support. He will remain on CharlesRiver’s Board as a non-executive director. U.S. Food and Drug Administration (FDA) over the past decade. Underhis leadership, the Company enabled advances for a wide range of life-saving therapies, supporting approximately 1,500 Investigational NewDrug (IND) programs annually. Beyond growth and scale, Jim’s leadership contributed greatly to thebroader healthcare ecosystem through his emphasis on scientific rigor,ethical responsibility, and patient safety. He reinforced Charles River’slong-standing commitment to animal welfare, regulatory compliance,and quality, while also guiding thoughtful investment in both expansionand emerging scientific capabilities to create a leading partner innearly every market sector that the Company serves. His leadershipensured that innovation was pursued responsibly and in alignment withregulatory and client expectations. During his tenure as CEO, Charles River evolved from a research modelsbusiness into a diversified, global drug development company with acomprehensive portfolio spanning research models, safety assessment,and manufacturing solutions capabilities. He led the Company througha leveraged buyout in 1999, and then one year later, to an initial publicoffering on the NYSE, and eventually to its place as a respected memberof the S&P 500. Jim also played a pivotal role in shaping Charles River’s culture. Hechampioned integrity, collaboration, and accountability, fostering anenvironment where new ideas, scientific excellence, and operationaldiscipline could thrive. Under Jim’s leadership, Charles River has grown an average ofmore than 10% annually since its IPO to achieve annual revenue ofapproximately $4.0 billion today, with operations in more than 20countries. Through disciplined capital allocation and more than 50strategic acquisitions, the Company significantly expanded its scientificcapabilities, geographic footprint, and integrated service offering,while maintaining a strong balance sheet and consistent free cash flowgeneration. As Jim prepares for retirement, we recognize a legacy defined bytransformation, growth, and purpose. The Company he helped build– stronger, more diversified, and globally respected – stands as atestament to his vision and leadership. On behalf of the Board of Directors, our employees, and ourshareholders, we extend our deepest gratitude to Jim Foster for hisextraordinary service and lasting impact on Charles River Laboratoriesand the healthcare community. Over the course of Jim’s tenure, Charles River became a criticalcontributor to the development of innovative medicines, havingsupported more than 80% of the novel drugs approved by the To Our Shareholders Following a period when biopharmaceutical clients worked through their ownchallenges resulting in significant pipeline prioritization and restructuringactivities, demand trends stabilized in 2025 and we are beginning to see earlysigns of improvement. Demand trends from larger biopharmaceutical clientsbegan to improve early in 2025 as budget constraints eased, and a morefavorable funding environment led to improved demand trends for small andmid-sized biotechnology clients as the year progressed. When I joined Charles River five decades ago, we were a niche – yet best-in-class – research models company. Clients relied on us for the highestquality and most scientifically characterized models, and we have lived by thatstandard throughout my tenure. We have strived to be the best in class in all ofour endeavors and will continue to do so in the future: our portfolio of essentialproducts and services, our outstanding scientific expertise, our exceptionalclient service, our innovative technology, and our broad, global network. It was the goal to be a trusted partner and essential to our clients that led usto build Charles River into a global industry leader for regulatory-requireddrug development solutions. We accomplished this by leveraging ourexpertise in animal science and client service and through more than 50strategic acquisitions and significant internal investments, and as a result,we were able to vertically integrate and become the leader in regulated safetyassessment services. This strategy proved successful, and today, we generateapproximately $4.0 billion in annual revenue with operations in over 20countries. As I reflect on my career at Charles River, I am proud that we havecontinuously evolved to