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Bio-Rad Laboratories, Inc. (symbol: BIOB) is a leading global provider of life science research and clinical diagnostic products. Founded in 1952, Bio-Rad has a longstanding history of innovation in the life science industry. The company's products and solutions assist researchers and medical professionals in making advancements in healthcare and diagnostics.
Core Business: Bio-Rad operates in two main segments: Life Science and Clinical Diagnostics. The Life Science segment offers products for cell biology, gene expression, protein purification, and sample preparation. The Clinical Diagnostics segment provides diagnostic systems and tools for blood transfusion, diabetes monitoring, and autoimmune testing.
Recent Achievements: Recently, Bio-Rad has made significant strides in expanding its product portfolio and improving operational efficiency. The company launched new advanced PCR systems and expanded its digital PCR product range, enhancing its position in the market.
Current Projects: Bio-Rad is currently working on several projects to develop new high-precision diagnostic tools and reagents. These projects aim to provide more accurate and faster diagnostic solutions, which are crucial for timely medical intervention and research.
Financial Condition: Bio-Rad has demonstrated robust financial health with consistent revenue growth driven by strong sales in both business segments. The company's strategic investments in R&D and its commitment to innovation have contributed significantly to its financial stability.
Partnerships: The company has established key partnerships and collaborations with leading research institutions, biotech firms, and healthcare providers. These partnerships aim to foster innovation and improve the reach and effectiveness of Bio-Rad's products and solutions.
Products: Bio-Rad's diverse product portfolio includes reagents, instruments, software, and services for various laboratory applications. Notable products include the Droplet Digital PCR System, BioPlex Multiplex Immunoassay System, and an extensive range of antibodies and reagents.
Stay updated with the latest news and developments from Bio-Rad Laboratories, Inc. to understand their impact on the stock market and healthcare advancements.
Bio-Rad Laboratories has appointed Anette Engelhardt as Executive Vice President and President of the Clinical Diagnostics Group, effective June 10, 2024. Engelhardt joins from Cepheid, where she was a Senior Vice President and General Manager. At Cepheid, she managed emerging growth opportunities and led global R&D, strategy, and product management. She has significant experience in the diagnostics field, having held senior roles at bioMerieux and served as CEO of AB BIODISK. Andy Last, Bio-Rad’s Executive VP and COO, expressed confidence in Engelhardt's ability to drive the company's clinical diagnostics strategy and product development.
Bio-Rad Laboratories, a leader in life science research and clinical diagnostics, announced that CEO Norman Schwartz and CFO Roop K. Lakkaraju will participate in a fireside chat at the Jefferies Global Healthcare Conference. The event is scheduled for June 6, 2024, at 10:30 AM ET (7:30 AM PT). A live webcast and replay will be accessible via the Investor Relations section of Bio-Rad’s website.
Bio-Rad Laboratories, Inc. reported first-quarter 2024 financial results with total net sales of $610.8 million, a decrease of 9.8% compared to the same period in 2023. While Life Science segment sales dropped by 25.3%, Clinical Diagnostics segment sales increased by 4.7%. Net income for the quarter was $383.9 million, or $13.45 per share, compared to $69.0 million, or $2.32 per share, in 2023. Bio-Rad remains cautiously optimistic about a gradual biopharma market recovery and confident in their long-term strategy.
Bio-Rad Laboratories, Inc. will have its COO and CFO participate in a fireside chat during the RBC Capital Markets Global Healthcare Conference on May 14, 2024. The event will be webcasted and available for replay on the company's Investor Relations website.
Bio-Rad Laboratories, Inc. announced the promotion of James J. Barry to Executive Vice President and President of the Life Science Group, succeeding Dr. Simon May. Barry's extensive experience and leadership roles in quality systems and global manufacturing make him well-suited for the position. The CEO expressed confidence in Barry's ability to lead the global life science business, acknowledging May's contributions to the company.
Bio-Rad Laboratories reported strong Q2 2021 financial results, with net sales of $715.9 million, up 33.4% from Q2 2020. The Life Science segment sales rose 32.6% to $334.2 million, while Clinical Diagnostics grew 34.3% to $380.2 million. Gross margin improved to 56.1% from 54.6% a year earlier. Net income was $914.1 million, or $30.32 per share, impacted by equity security valuations. The company updated its 2021 outlook, forecasting 10.0% to 10.5% non-GAAP currency-neutral revenue growth.
Bio-Rad Laboratories (NYSE: BIO and BIOb) announced a final settlement with 10x Genomics (Nasdaq: TXG) to resolve multiple litigations across various regions, including Massachusetts and Germany. This settlement includes a global patent cross-license, granting Bio-Rad broad freedom-to-operate in the single-cell genomics market, along with past and future royalties. Both companies maintain their patent rights, affirming their validity. The CEO of Bio-Rad expressed satisfaction over the resolution, highlighting the value of the company's intellectual property rights.
Bio-Rad Laboratories (NYSE: BIO, BIOb) will announce its Q2 2021 financial results on July 29, 2021, after market close. The results will be discussed in a conference call at 3 PM PT (6 PM ET). Investors can listen in by calling 855-779-9068 in the U.S. or 631-485-4862 internationally, with a passcode of 5382265. A webcast will also be available on the company’s website under “Quarterly Results” and will remain accessible for one year. Bio-Rad, based in Hercules, California, reported revenues of over $2.5 billion in 2020.
Bio-Rad Laboratories (NYSE: BIO, BIOb) has partnered with Seegene, Inc. to develop and commercialize infectious disease molecular diagnostic products. Seegene will supply diagnostic tests for Bio-Rad's CFX96™ Dx Real-Time PCR System, pending FDA clearance. The partnership aims to enhance diagnostic testing in U.S. markets. Seegene's assays are noted for their multiplex capabilities, detecting up to seven infectious disease targets simultaneously with results available in about four hours. This collaboration aligns with Bio-Rad's mission to improve healthcare through innovative diagnostic solutions.
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