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Based in Center Valley, PA, Avantor, Inc. (NYSE: AVTR) is a global leader in providing mission-critical products and services to customers in diverse industries such as life sciences, healthcare, education and government, as well as advanced technologies and applied materials. Avantor's portfolio includes high-performance chemistries and materials marketed under reputable brand names such as J.T.Baker®, Macron Fine Chemicals™, Rankem™, BeneSphera™, and POCH™. The company's offerings span materials and consumables, equipment and instrumentation, as well as services and specialty procurement.
Operating across three geographical segments—Americas, Europe, and AMEA—Avantor generates a majority of its revenue from the Americas. Recent strategic initiatives include a partnership with Tobin Scientific to support end-to-end biopharma logistics, enhancing Avantor's ability to provide cold chain and ambient storage solutions for lab relocations and sample transport. This collaboration ensures current Good Manufacturing Practice (cGMP) compliance and aims to streamline complex logistics, thereby allowing customers to focus on advancing their research.
In addition to its commitment to operational excellence, Avantor is making strides in sustainability. The company recently introduced an innovative packaging system that optimizes product-to-package ratios, significantly reducing shipping material usage. This system has already saved thousands of pounds of filler material, exemplifying Avantor's dedication to eco-friendly practices.
Financially, Avantor reported net sales of $1.72 billion for Q3 2023, a 7.3% decline compared to the previous year, largely due to organic sales dips and COVID-19 headwinds. Despite these challenges, Avantor achieved more than 110% free cash flow conversion, facilitating ongoing debt reduction. The company also reaffirmed its FY2023 guidance, underscoring its confidence in long-term growth prospects by implementing a new operating model and advancing a $300 million cost optimization initiative.
Avantor’s global footprint gives it access to over 300,000 customer locations in 180+ countries, thereby positioning it as a crucial partner in facilitating scientific breakthroughs and innovation. For more information, visit avantorsciences.com.
Avantor (NYSE: AVTR) announced the opening of its new flagship Bridgewater Innovation Center in New Jersey. The 60,000-square-foot facility doubles the previous laboratory and pilot plant capacity, featuring dedicated spaces for upstream and downstream process development, analytical testing labs, and a viral vector laboratory. The center, part of Avantor's global network of 13 research facilities, is staffed with Ph.D. scientists, bioengineers, and process engineers to support biomanufacturing optimization and accelerate development of therapies including monoclonal antibodies, cell and gene therapy, and mRNA workflows.
Avantor (NYSE: AVTR) has appointed Dame Louise Makin to its Board of Directors, effective until the 2025 Annual Meeting of Stockholders. Dame Louise, former CEO of BTG plc for 15 years, brings significant healthcare industry experience, having led BTG's transformation through organic growth and acquisitions until its acquisition by Boston Scientific in 2019. She previously held leadership positions at Baxter Healthcare, including President of Biopharmaceuticals Europe. Currently, she serves as non-executive chair of Halma plc and has served on multiple corporate boards. Dame Louise holds a Ph.D. in material sciences from Cambridge and an MBA from The Open University.
Avantor (NYSE: AVTR) reported Q3 2024 financial results with net sales of $1.71 billion, showing a slight decrease of 0.3% (0.7% organic decline). Net income decreased to $57.8 million from $108.4 million in Q3 2023, with diluted EPS of $0.08 and adjusted EPS of $0.26. The company achieved strong free cash flow of $204.0 million, leading to increased full-year guidance. Laboratory Solutions segment saw 1.1% growth, while Bioscience Production decreased by 3.2%. The company maintains its outlook for mid to high single-digit growth in bioprocessing, with cost transformation programs running ahead of plan.
Avantor (NYSE: AVTR) has expanded its partnership with the National Institute for Bioprocessing Research and Training (NIBRT) to address biopharma manufacturing challenges. The collaboration focuses on downstream optimization for monoclonal antibodies (mAbs) through advanced equipment provision and specialized training. Avantor will supply Masterflex® pump systems and single-use systems to create realistic biopharmaceutical workflows in NIBRT's training facilities. The partnership aims to tackle scale-up challenges, optimize fluid handling processes, and enhance manufacturing efficiency through expert-led training sessions.
Audax Private Equity has completed the acquisition of Avantor, Inc.'s (NYSE: AVTR) clinical services business, rebranding it as Resonant Clinical Solutions. Resonant comprises three established brands: EPL Archives, MESM, and Therapak, which provide comprehensive services to pharmaceutical, biotechnology, CRO, and diagnostic laboratory customers.
Audax plans to drive organic and inorganic growth for Resonant, enhancing existing solutions and adding complementary capabilities through M&A. The company aims to capitalize on the increasing complexity of clinical trial services, which is driving outsourcing to specialists like Resonant.
Moelis & Company and Ropes & Gray LLP advised Audax, while J.P. Morgan Securities and Arnold & Porter advised Avantor in the transaction.
Avantor (NYSE: AVTR) has closed the divestiture of its clinical services business to Audax Private Equity for approximately $650 million. The transaction is expected to yield $500 million in after-tax cash proceeds and reduce capitalized leases by about $50 million. Avantor plans to use the proceeds to pay down debt.
CEO Michael Stubblefield stated that this move will strengthen the company's balance sheet, reduce interest expenses, and allow focus on strategic growth in lab and production businesses. J.P. Morgan Securities and Arnold & Porter LLP advised Avantor, while Moelis & Company and Ropes & Gray LLP advised Audax in the transaction.
Avantor's NuSil brand has won the 2024 North American Daily Kaizen Management award from the Kaizen Institute, recognizing their commitment to operational excellence and continuous improvement. NuSil, a leading provider of high-purity silicones for healthcare and advanced technologies, was honored for leveraging lean practices to deliver innovative results.
The award highlights Avantor's dedication to the Avantor Business System (ABS), which is built on Kaizen principles. ABS is a set of unified practices and standard processes that enhance operational excellence and create value for stakeholders. It has helped Avantor reduce lead times, eliminate waste, and foster a culture of learning and execution.
Benoit Gourdier, Executive Vice President and Head of Avantor's Bioscience Production Segment, expressed pride in the recognition, emphasizing how ABS has benefited associates, customers, and shareholders.
Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technology industries, has announced its plans to release its third quarter 2024 financial results on Friday, October 25, 2024. The company will release the results before the market opens and will hold a conference call on the same day at 8:00 a.m. Eastern Time to discuss the results.
Interested parties can access a live audio webcast of the session by visiting the Events & Presentations section in the Investor area of Avantor's website at ir.avantorsciences.com. For those unable to attend the live session, a replay of the webcast will be available for 30 days following the event.
Avantor (NYSE: AVTR) has entered into a 10-year virtual power purchase agreement through the Energize program, aimed at increasing renewable energy access for pharmaceutical supply chains. This agreement will provide 25GWh of renewable energy annually starting in 2026, reducing Avantor's greenhouse gas emissions by 17,465 metric tons, equivalent to the energy consumption of 2,278 households for one year. Avantor is also developing three new solar projects in Spain to support its European operations. Additionally, the company has completed solar installations in Singapore, India, Sweden, and New York, with more planned in New Jersey and other locations to meet its 2030 emissions reduction targets.
Avantor, Inc. (NYSE: AVTR) announced its participation in the BioProcess International 2024 conference, scheduled for September 23-26 in Boston. The company will deliver multiple scientific presentations and exhibit at the event, which is expected to attract over 3,200 biopharmaceutical professionals from 40+ countries.
Key presentations include:
- A novel approach to AAV harvest and purification process optimization
- Keynote address on adapting to changing molecules and regulatory expectations
- Viral gene therapy manufacturing at scale
Avantor will also showcase its Magnetic Mixing Systems portfolio on the exhibit floor, focusing on solutions for production scale-up and downstream process optimization. The company's presence at the conference underscores its commitment to delivering innovative solutions for biopharmaceutical development and production challenges.
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