The acquisition of an additional 41% equity interest in Noveprim Group was completed on November 30, 2023, resulting in a 90% controlling interest. This acquisition strengthens and diversifies the supply chain for non-human primates (NHPs) used in research.

The company has undertaken restructuring actions, including workforce right-sizing and facility consolidations, to optimize its global footprint. These actions are expected to result in approximately $200 million of cost savings on an annualized basis, with approximately $100 million impacting fiscal year 2024.

DSA backlog decreased to $2.1 billion as of September 28, 2024, from $2.5 billion as of December 30, 2023, reflecting a more cautious spending environment from clients, particularly in the biopharmaceutical and biotechnology sectors.

In response to recent trends, management has undertaken restructuring actions to optimize the global footprint and drive greater operating efficiency. These actions are expected to result in approximately $200 million of cost savings on an annualized basis.

A triggering event was identified for the Discovery Services reporting unit, leading to a quantitative impairment test for goodwill. The test determined that the fair value of the reporting unit exceeded its carrying value, and no impairment was recognized.

The Board of Directors approved a stock repurchase authorization of $1.0 billion on August 2, 2024. During the three and nine months ended September 28, 2024, the Company repurchased 0.5 million shares of common stock for $100.7 million.

The company is cooperating with the DOJ and USFWS in investigations regarding shipments of non-human primates from Cambodia. The company has voluntarily suspended future shipments of non-human primates from Cambodia to the United States until additional procedures can be agreed upon.

A putative securities class action and derivative lawsuits have been filed against the Company and certain officers/directors alleging materially false or misleading disclosures about its practices with respect to the importation of non-human primates.

The company operates on a global basis and is exposed to foreign currency exchange rate fluctuations for its financial position, results of operations, and cash flows. Fluctuations in the foreign currency exchange rates of the countries in which the company does business will affect its financial position, results of operations, and cash flows.

The DSA business experienced lower volume due to a more cautious spending environment from clients, particularly in the biopharmaceutical and biotechnology sectors. This is reflected in the decrease in DSA revenue and backlog.

Manufacturing revenue increased primarily due to increased revenue in both Biologics Solutions and Microbial Solutions businesses driven by increased demand for Biologics Testing and CDMO services and higher endotoxin product revenue.

The acquisition of SAMDI Tech provided clients with seamless access to the premier, label-free HTS MS platform and created a comprehensive library of drug discovery solutions, strengthening the company's competitive position in this area.

The company is implementing restructuring actions, including workforce right-sizing and facility consolidations, to optimize its global footprint and drive greater operating efficiency. These actions are expected to result in approximately $200 million of cost savings on an annualized basis.

Operating income was negatively impacted by charges related to recent restructuring activities, including severance, asset impairments, and other site consolidation costs.

The company experienced declines in capital expenditures for the nine months ended September 28, 2024, compared to the same period in 2023, primarily as a result of disciplined spend management.

The SAMDI Tech acquisition provides clients with seamless access to the premier, label-free HTS MS platform and creates a comprehensive library of drug discovery solutions, indicating a focus on technological advancement.

The Board of Directors approved a stock repurchase authorization of $1.0 billion on August 2, 2024. During the three and nine months ended September 28, 2024, the Company repurchased 0.5 million shares of common stock for $100.7 million.

The acquisition of an additional 41% equity interest in Noveprim Group was completed on November 30, 2023, resulting in a 90% controlling interest. This acquisition strengthens and diversifies the supply chain for non-human primates (NHPs) used in research.

The company experienced declines in capital expenditures for the nine months ended September 28, 2024 as compared to the same period in 2023, primarily as a result of disciplined spend management.

The DSA business experienced lower volume due to a more cautious spending environment from clients, particularly in the biopharmaceutical and biotechnology sectors. This is reflected in the decrease in DSA revenue and backlog.