美股醫(yī)療保健行業(yè)-美國生命科學(xué)與診斷jack工具包——第4卷第23期asms 2018要點(diǎn)

1、EquityResearch7June2018BarclaysCapitalInc.oneofitsaffiliatesdoesseekstodobusinesswithcompaniescoveredinitsresearchrepts.Asaresultinvestsshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthi

2、srept.Investsshouldconsiderthisreptasonlyasinglefactinmakingtheirinvestmentdecision.PLEASESEEANALYSTCERTIFICATION(S)IMPTANTDISCLOSURESBEGINNINGONPAGE20.U.S.LifeScienceTools&DiagnosticsJack’sToolKit–Vol.4Issue23:Takeaways

3、fromASMS2018Jack’sToolKit–WhatareyourtakeawaysfromASMS2018onmassspectrometryfyourcoverageTriviaQuestion:Withamarketcapof$7.73bnExactSciencesis53%ofthesizeofQuestDiagnostics.RecentNotes&Repts:1)Tools&Dx:BarclaysToolsIndus

4、trialTrackerMay2018:GlobalPMIsExpansionaryUSShowsImprovement2)Tools&Dx:LabsApril2018EmploymentTrendsReview3)HOLX:May2018MammographyMarketModelUpdate4)GHDX:TAILxShowsValuefIntermediateRiskPatientsFullyValuedinStock.Barcla

5、ysLifeScienceTools&Dx5)AgilentTechnologies:AnalystDayTakeaways:ConsistentStrategytoOutGrowPeersBarclaysGeographicEndMarketTracker:AgilentFY3Q18PMITrackerof54.9(down0.4qq)MettlerToledo2Q18PMITrackerof55.7down1.3qq)PerkinE

6、lmer2Q18PMITrackerof55.3(down1.4qq)ThermoFisher2Q18PMITrackerof55.8(down1.2qq)Waters2Q18PMITrackerof55.1(down1.2qq).BarclaysFXTracker(662018):Eurostrengthens0.9%wwUKPoundstrengthens1.0%wwChineseYuanstrengthens0.5%wwJapan

7、eseYenweakens1.2%wwSwissFrancstrengthens0.3%ww.HotTopicsftheWeek:1)GenomicHealthreleasedtheresultsoftheTAILxstudyshowingthevalueofOncotypeDxinpredictingbenefitfromchemotherapyfbreastcancerpatients.2)BrukernamedGeraldHerm

8、annasthecompany’spermanentCFO.3)AgilenthostedananalystdayonWednesdayhighlightingaconsistentstrategylongtermtargetsalsodisclosedthatthecompanycompleted$200millionofrepurchasesinMaygivenrecentstockunderperfmance.Ourcoverag

9、euniversefinishedtheweekup3.5%sincelastThursday(toolsup4.5%diagnosticsup3.8%labs&CROsup2.2%).IncomparisontheS&P500wasup2.4%ftheweektheRussell2000wasup2.0%theNASDAQCompositewasup3.0%.StatoftheWeek:Agilent’scurrentexposure

10、toNGSwkflowswassizedat$250mm.DearClient:WeappreciateyourconsiderationintheInstitutionalInvestAllAmericaEquityResearchTeamSurvey.Toviewthisyear’srosterpleaseclickhere.INDUSTRYUPDATEU.S.LifeScienceTools&DiagnosticsNEUTRALU

11、nchangedU.S.LifeScienceTools&DiagnosticsJackMeehanCFA12125263909jack.meehan@BCIUSMitchellPetersen12125263367mitchell.petersen@BCIUSrewWald12125269436rew.wald@BCIUSBarclays|U.S.LifeScienceTools&Diagnostics7June20183Bruker

12、BrukerkickedoffASMSdirectingamajityofitsfocusononeproductintroductionaswellasthe“relaunch”ofanotherimpactfulinstrument.TherewasalotofinterestaroundthelaunchofthescimaXMRMSwhichthecompanybelieveswillmakeasignificantimpact

13、inproteomicsphenomics.ThepreviouslyintroducedtimsTOFProwasalsoanareaoffocusfBruker.?scimaXMRMS:CEOFrankLaukienbelievesthatMRMShas“averybrightfuture”thatthescimaXintroductionis“revolutionary.”Specificallyheexpectsthelaunc

14、htobeimpactfulinmovingproteomicsphenomicstotheclinicalsetting.LaukiendescribedthescimaXasthe“mostpowerfulmassspeceverbuilt”withmassresolutiongreaterthan20million.Thehighlevelofresolutionenablestheuseofisotopicfinestructu

15、re(IFS)analysis.AdditionallytheinstrumentfeaturesimprovedeaseofuseenablingnativeMSvirtually“outofthebox.”Thehighthroughputinstrumentcantestupto200samplesperday.AsanexampleoftherobustnessaresearcherinattheImperialCollegeL

16、ondonperfmedover1100testswithoutstopping.ImptantlythescimaXutilizesBruker’snovelMaxwellmagtechnologywhichcoolstheinstrumentviausingcompressedhelium.Thesystemrequiresmaintenancejustonceeverytwoyears.Thisisasubstantialimpr

17、ovementoverBruker’sotherMRMSinstrumentsinwhichliquefiedheliummustbereplacedeveryfewweeks.Theproductispricedat$1.25millioncustomersareexpectedtobesplitfmthebiopharmaacademicendmarkets.Brukersellsroughly15MRMSinstrumentsan

18、nuallythoughthecompanyexpectsthisnumbertoincreasemovingfward.?timsTOFPro:ThecompanyalsodiscussedthetimsTOFProwhichwaslaunchedatHUPO2017inDublin.ThecompanybelievesthetimsTOFProisa“gamechanger”inproteomicsfeaturingunpreced

19、entedrobustnessincreasesensitivityspeed.AccdingtoanumberofresearchersthesensitivityofthetimsTOFishigherthananyotherinstrumentsinthefieldofproteomics.OneresearcherMatheusMannrecentlypublishedapaperonthetimsTOFnotingthatit

20、featuresa50xgaininsensitivity.Thisisespeciallyimptantfbiopharmacustomerswhichrequirehighsensitivityaquickpaceoftestingatareproduciblelevel.Thecompanyhasalreadyseenmuchinterestfrompharmacompaniesthoughearlycustomershavema

21、inlybeenfromtheacademicsetting.ThetimsTOFProispricedatroughly$700Kthecompanyhasplaced10instrumentssofar.ThermoFisherIainMylchreestVPofR&DchromatographymassspectrometryatThermoFisherhighlightedthreenewmassspectrometryoffe

22、rings.Eachplatfmisgearedtowardadifferentmarketincludingstructuralbiologymetabolomicsappliedtesting.Thecompanyalsonotedthatithasbeenmakingverysignificantinvestmentsinsoftware.ThoughsomecustomersarestillrelianttosharedataT

23、hermoFishercontinuestoreceiveadditionalrequestsfcloudconnectivity.IntermsofremotemonitingfeedbackhasbeenverypositivewithcustomersgreatlypreferringinstantaneouscommunicationwithThermoFisherwhenasystemrequiresservicing.?QE

24、xactiveUHMRQuadrupoleMassSpec:Thecompanyconsiderstheinstrumenttobe“novel”withthepotentialtoopennewopptunitiesinstructuralbiology.WhilethebitraphashisticallyanalyzedsmallermoleculesinstructuralbiologytheQExactiveUHMRanaly

25、zeslargermolecules.Asaresulttheinstrument’smassrangewasextendedto80K.Anotherfeatureoftheinstrumentistheabilitytoseparatemoleculesonitsown.ImptantlyThermoFisherbelievesthattheQExactiveUHMRis“verycomplimentary”tothecompany