U.S. companies across sectors are intensifying job cuts, extending a trend of workforce reductions from 2024, as they prioritize cost-savings and streamline operations amid a challenging economic environment.
Diagnostics company Bio-Rad has been sued by the California Institute of Technology for allegedly misusing the school's patented technology for analyzing biological samples.
Diagnostics firm Bio-Rad Laboratories posted third-quarter profit above Wall Street estimates on Wednesday, helped by a recovery in demand for analytical tools from its biotech clients and steady clinical diagnostics products sales growth.
Wall Street's three major indexes gained more than 1% on Monday as investors looked for bargains after the previous week's sell-off while they also waited for inflation reports in coming days and the Federal Reserve's next policy decision next week.
The S&P Dow Jones Indices said on Friday server maker Dell Technologies , data analytics firm Palantir Technologies and property and casualty insurer Erie Indemnity will join the benchmark S&P 500 before the market opens on Sept. 23.
Bio-Rad Laboratories cut its annual revenue growth forecast on Thursday, dragged down by weak demand for clinical diagnostics products from biotech clients.
Diagnostics firm Bio Rad Laboratories reiterated its 2024 sales growth forecast on Tuesday, weighed by persistently weak spending by biotech companies and sluggish demand in China.
Bio Rad Laboratories reported fourth-quarter profit that beat Wall Street estimates on Thursday, helped by a better-than-expected demand for its diagnostic instruments and quality control products offsetting weaker sales in its life-sciences unit.
Jeff Ubben, one of Wall Street's most prominent activist investors, is shutting down Inclusive Capital Partners three years after starting the firm designed to focus on social investing.
Bio-Rad Laboratories on Thursday lowered its annual revenue growth forecast, given the uncertain pace of the biopharma sector's recovery and ongoing macro challenges, sending the company's shares down about 11% in extended trading.
U.S.-German biotechnology company Qiagen NV said on Monday that its third-quarter net profit dropped 38%, but it raised its outlook for the full year.
European shares fell for a fifth straight session on Tuesday, as investors fretted about the prospects of a global economic downturn and corporate profits being squeezed by rising interest rates as central banks step up their fight against inflation.
Qiagen may once again find itself at the centre of an M&A drama. The $10 billion German lab tester is in talks with $10 billion U.S. life-science company Bio-Rad , the Wall Street Journal reported on Monday. The news drove Qiagen’s share price up by nearly 7% on Tuesday. Any deal would follow Thermo Fisher Scientific’s failed attempt to buy Qiagen for 11.3 billion euros ($11 billion) back in 2020.
California-based diagnostics company Bio-Rad Laboratories is in talks to merge with Qiagen NV , the Wall Street Journal reported on Monday, citing people familiar with the matter.
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About Bio Rad Laboratories Inc (BIO.N)
Company Information
Bio-Rad Laboratories, Inc. is engaged in developing, manufacturing, and marketing a range of products for the life science research and clinical diagnostics markets. The Company offers a range of products and systems used to separate complex chemical and biological materials and to identify, analyze and purify their components. It operates through two segments: Life Science and Clinical Diagnostics. The Life Science segment develops, manufactures, and markets instruments, systems, reagents, and consumables used for biological research, biopharmaceutical production processes, food testing regimes, and science education. Its Clinical Diagnostics segment designs, manufactures, markets and supports test systems, informatics systems, test kits and specialized quality controls that serve clinical laboratories in the global diagnostics market. These products are sold to hospital laboratories, diagnostic reference laboratories, transfusion laboratories, and physician office laboratories.
Industry
Medical Equipment, Supplies & Distribution (NEC)
Executive Leadership
- Norman D. Schwartz
- Chairman of the Board, Chief Executive Officer
- Jonathan P. Divincenzo
- President, Chief Operating Officer
- Roop K. Lakkaraju
- Chief Financial Officer, Executive Vice President
- Courtney C Enloe
- Executive Vice President, General Counsel, Secretary
- Colleen Corey
- Executive Vice President, Global Human Resources
- James J. Barry
- Executive Vice President, President - Life Science Group
- Eva Anette Engelhardt
- Executive Vice President, President of Clinical Diagnostics Group
- Sedat Evran
- Executive Vice President - Global Supply Chain
- Rajat Mehta
- Executive Vice President - Global Commercial Operations
- Gregory K. Hinckley
- Lead Independent Director
- Allison Schwartz
- Director
- Jeffrey L. Edwards
- Independent Director
- Melinda Litherland
- Independent Director
- Arnold A. Pinkston
- Independent Director
Financials
Income Statement
| Millions (USD) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenue | 2566.5 | 2671.262 | 2802.249 |
| Gross Profit | 1378.9 | 1430.846 | 1568.43 |
| Net Income | -1844.2 | -637.324 | -3627.535 |
2024 (millions USD)
Balance Sheet
| Millions (USD) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | 9364.1 | 12299.07 | 13501.666 |
| Total Debt | 1201.6 | 1199.538 | 1198.181 |
| Total Liabilities | 2794.8 | 3557.937 | 3886.414 |
2024 (millions USD)
Cash Flow
| Millions (USD) | 2024 | 2023 | 2022 |
|---|---|---|---|
| Cash from Operating Activities | 455.2 | 374.943 | 194.447 |
| Financing Cash Flow Items | -34 | -14.936 | -14.015 |
| Cash from Investing Activities | -160.2 | 20.208 | -1207.593 |
2024 (millions USD)
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