KeyBanc Remains Positive on Life Sciences as 'Strong' Earning Season Begins with Danaher (DHR) Report
KeyBanc analyst Paul Knight comments "Bioprocess market leaders Sartorius (SRT3) and Danaher (DHR) published 2Q22 results this morning with strong revenue and EPS beats, providing a positive backdrop for the industry at large. Results clearly indicate bioprocess companies are witnessing high-levels of demand, making up for the headwinds posed from COVID-19 revenue drop-offs and broader macro challenges. Robust bioproduction end-markets are primarily driven by continued growth of the core biologics market, monoclonal antibodies, as well as rapid acceleration in emerging modality classes like cell & gene therapies and mRNA. SRT3 Lab Product division results are also positive for the broader research tools market. We view the quarterly results as positive and read-through to other companies with exposure to bioproduction like TMO, RGEN, A, AVTR, CTLT, and MRVI."