Thermo Fisher and Olink at JPM24
In case you didn’t know, Thermo Fisher TMO 0.00%↑ announced recently their plans to acquire Olink OLK 0.00%↑ for circa $3B. There are though obstacles in the road, in this case the UK regulators are looking at this deal to see if it will decrease the competitiveness of the Next-Generation Proteomics market overall.
Given this preamble, I highlight below the TMO presentation at JP Morgan 2024.
TMO is a monster of a company overall, with $43B in revenue, >125,000 employees and their R&D Investment alone is measured in billions of $ annually. They have several brands, such as ABI (Applied Biosystems) who a few years ago acquired Ion Torrent and thus have a foot in the Next-Generation Sequencing market.
Their revenue is split into 4 categories, of which Diagnostics and Healthcare compose 15% of the total. The largets one is Pharma and Biotech.
Some highlights in terms of innovation: they just released the Orbitrap Astral Mass Spectrometer, which will compete in the market with the equivalent in Bruker using timTOF technology. Their QuantStudio portfolio in dPCR systems are heavily utilized, and they sell useful lab reagents such as the Dynabeads that are used in a multitude of applications.
In the M&A front, relatively quiet, but the $3B Olink acquisition is the most outstanding given the companies I track.
If this acquisition goes through, it will mean that Thermo Fisher will have 2 feet in the proteomics market: their MS offerings, with the Orbitrap Astral as the flagship product, and their Next-Gen Proteomics panels with Olink, which compete with the likes of SomaLogic which seems they will be acquired by Standard Biotools (Fluidigm) which trades with the ticker LAB 0.00%↑ .
In a strategic positioning analysis below, I’ll discuss what the current situation may be with TMO/Olink and LAB/SomaLogic.