Contract research organizations gain after Trump win

Waters

06/11/2024 14:07

** Shares of contract research organizations up 1% to 3%
premarket after Donald Trump is elected U.S. president for a
second term 
    ** Thermo Fisher Scientific  TMO.N  up 2%, Danaher  DHR.N 
up 1.9%, Icon  ICLR.O  up 1.6% and Waters  WAT.N  up 2.8%
    ** "Any potential changes to the Inflation Reduction Act
dynamics would likely slow the recent trend of portfolio
pruning, which would be positive for the reboot in biopharma
demand" - Leerink analysts on implications of Trump reelection 
    ** Contract research organizations, which make tools and
services used in drug development, witnessed reduced spending
from biotech clients last year 
    ** Charles River Laboratories'  CRL.N  shares rise 12.4% to
$212.00 premarket as the company raises its annual profit
forecast on stabilizing biotech demand
    ** Up to last close, TMO up 5.7%, DHR up 8.1%, ICLR down
20%, WAT up 17.6% and CRL down 20.2% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))