![]() It also tripled its market capitalization since 2017, from $8.3 billion to $22.4 billion, which the firm attributed to improved focus, scale, and operating leverage.Ĭhief Operating Officer Andrew Last said Bio-Rad reduced its sales, general, and administrative spending and tweaked where and how it is investing in its business over this time, which involved "a lot of restructuring."įor example, it trimmed its headcount by 400 people in the past few years and moved two clinical diagnostics manufacturing facilities from France to Singapore. The final phase of the transformation, scheduled between 20, is devoted to enhanced and accelerated growth.Īs a result of these transformational strategies, Bio-Rad achieved a compound annual growth rate of 5.2 percent between 20, exceeding its expectations of 3 percent to 5 percent CAGR, Schwartz said. It began in 2015 with globalizing its operations and executing operational and performance improvements. To support this wave of innovation, Bio-Rad has spent the past four years diligently transforming its business. ![]() "We are today in the golden age of biology," Schwartz said, adding, "I think we're poised to see a continued acceleration in the biological sciences, in further application and discovery, and in healthcare." Growth will also be spurred by a pipeline of new product offerings, such as multiplex syndromic molecular diagnostic panels and new digital PCR instruments.īio-Rad has been around for more than 70 years, has nearly 8,000 employees, and currently generates approximately $3 billion in annual sales that is fairly evenly split between its Life Science and Clinical Diagnostics business units.įrom this unique perspective, Norman Schwartz, Bio-Rad's CEO, opined at Friday's event that the breathtaking scientific advances of the past few decades are just beginning. The firm is expecting a 9 percent compound annual growth rate through 2025 in its core business, driven by an increased focus on biopharma and the Asia/Pacific market. NEW YORK – In its first investor day presentation since 2017, Bio-Rad Laboratories offered both high-level and granular insights into the direction of its business. Advances in Clinical Genomics Profiling.Save my name, email, and website in this browser for the next time I comment. “With the launch of the QX600 system, we’re excited to bring advanced multiplexing and unmatched sensitivity to molecular oncology investigators engaged in everything from biomarker discovery to clinical trials and patient monitoring of MRD.”īIO-RAD, ddPCR, Droplet Digital, QXDx, QX200 and QX600 are trademarks of Bio-Rad Laboratories, Inc. “The QX200 system has been an outstanding workhorse, cited in over 6,300 publications with nearly 1,000 of those focused on oncology,” said Stephen Kulisch, vice president of marketing for Bio-Rad’s Digital Biology Group. “Combining high multiplexing power with the proven sensitivity and absolute quantification of ddPCR technology will allow us to obtain greater volumes of high-quality clinical research data without burdening patients, ultimately driving precision medicine forward,” said Boris Wong, MSc, a translational researcher at the University of Melbourne who participated in beta testing for the QX600 ddPCR System earlier this year. The introduction of the QX600 ddPCR System expands the company’s family of QX platforms, which currently includes the CE Marked IVDR compliant QX200 system, the FDA-cleared QXDx system and the high-throughput, fully automated QX ONE system. We also expect that this will drive the development of novel, multiplexed assays that were not possible before.” ![]() “We anticipate leveraging this tool for rare variant detection as a method of analyzing multiple mutations for MRD and therapeutic response testing for our blood-based oncology offerings. “The QX600 is an incredibly powerful instrument,” said Gary Pestano, Ph.D., chief development officer at Biodesix, Inc., who also served as a beta tester. ![]() One such collaborator is already planning ways to apply the new QX600 ddPCR System. Maintaining Bio-Rad’s best-in-class ddPCR technology, this platform utilizes the same droplet generation and processing protocols as the QX200 system, enabling thousands of current customers to easily adopt its advanced multiplexing capabilities. Launched late last year, it boasts six color detectors capable of quantifying 12 targets per well, a simple user workflow, and powerful data analysis. Bio-Rad Laboratories, a company specializing in life science research and clinical diagnostic products, is accelerating measurable residual disease (MRD) research through more than a half dozen collaborations with institutions and companies leveraging its new QX600 Droplet Digital PCR System. ![]()
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