Charles River Labs aims to keep leverage below 3x, but may go higher

By Devika Patel

Knoxville, Tenn., June 5 – Charles River Laboratories International, Inc. management prefers that the company’s leverage ratio remains below 3x, but is willing to go above that target for “the right acquisition.”

“We prefer our leverage to be below three turns,” executive vice president and chief financial officer David R. Smith said at the Jefferies 2019 Global Healthcare conference in New York on Wednesday.

“We are not afraid to lever up for the right acquisition,” he said.

Wilmington, Mass.-based Charles River Laboratories provides research and development services to pharmaceutical and biotechnology companies, government agencies and academic institutions.

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