QIAGEN (NYSE: QGEN; Frankfurt Prime Standard: QIA) will announce
today at its Capital Markets Day a commitment to deliver solid
profitable growth through 2028 – led by about 7% compound annual
sales growth (CAGR) at constant exchange rates (CER) during the
four-year period and achieving at least a 31% CER adjusted
operating income margin in 2028.
The event, which starts at 12:00 New York time /
17:00 London time / 18:00 Frankfurt time at the New York Stock
Exchange, will feature presentations and a Q&A session with
Thierry Bernard, CEO of QIAGEN, along with Roland Sackers (CFO),
Nitin Sood (Head of Life Sciences), Fernando Beils (Head of
Molecular Diagnostics) and Jonathan Sheldon (Head of QIAGEN Digital
Insights).
A live webcast is available at
https://capitalmarketsday2024.qiagen.com/home/default.aspx. A
replay and related materials will be available at this link after
the event.
QIAGEN’s leadership team will present the new
2028 targets, highlighting QIAGEN’s vision and strategy to sharpen
its focus on growth pillars in the portfolio combined with
commitments to solid profitable growth and disciplined capital
allocation. This includes plans to return at least $1 billion to
shareholders from 2024-2028, absent value-creating M&A
opportunities, along with a high level of organic business
investments.
“QIAGEN is moving ahead with a reinvigorated
leadership team committed to stepping up with more focus and
delivering on our new targets. We are sharpening our focus on our
growth pillars, and this reflects our unwavering determination to
build and maintain profitable leadership positions in fast-growing
markets. We are creating ecosystems around these important pillars
as we announce important new product launches to maximize their
value to customers across the continuum from research to clinical
healthcare. This is combined with QIAGEN raising the bar on
profitability and a commitment to create greater value for our
shareholders and stakeholders,” Thierry Bernard will discuss in his
presentation.
“QIAGEN has developed a strong foundation for
continued financial success in delivering solid profitable growth
in recent years. We have announced new efficiency initiatives and
want to harness the power of digitization to free up resources to
enhance growth and profitability. Given our healthy balance sheet
and cash flow generation, we are announcing a commitment for
significant returns to shareholders while maintaining a high level
of investments into our business and seeking value-creating M&A
opportunities that strengthen our portfolio and create greater
value,” Roland Sackers will elaborate in his presentation.
The 2028 strategy involves the
following:
-
Sharpen focus on growth pillars to sustain profitable
growth
QIAGEN has set a goal for at least $2 billion of
combined annual sales in 2028 from its pillars amid plans for new
product launches and important investments:QIAcuity digital
PCR: QIAGEN is more than tripling the number of sales
specialists supporting QIAcuity to drive adoption as over 100 new
assays are launched. The QIAcuity-Dx version is also planned to
receive U.S. regulatory clearance in 2024 for clinical use, with
submission of an assay for detection of the BCR-ABL biomarker for
onco-hematology planned for 2025. QIAGEN also signed its first
companion diagnostic agreement for QIAcuity with an undisclosed
pharma partner.QIAstat-Dx: QIAGEN confirmed plans for the
U.S. regulatory submission of a new panel for syndromic diagnosis
of meningitis in 2024 to complement the European version, building
on the recent U.S. regulatory approval of the gastrointestinal
panel and upgraded respiratory panel. QIAGEN also plans for the
U.S. and European submissions of three panels by 2028 involving
blood culture, complicated urinary tract infections (cUTIs) and
pneumonia. Also in the U.S., new “mini panels” are planned to be
submitted for U.S. regulatory approval in 2024. These new panels
will enable the diagnosis of five pathogens causing respiratory or
gastrointestinal conditions, and are designed to address customer
demands.
QIAGEN Digital Insights: QIAGEN confirmed
plans to accelerate investments into this business with at least
nine new product launches planned by 2028. These plans also include
a 40% expansion in the commercial team to extend the global
presence into new geographic markets. QIAGEN intends to continue
investing about 20% of QDI sales into R&D to combine the power
of AI (artificial intelligence) and human-curated knowledge bases,
with plans to grow from the current 5 AI-enabled applications
across the portfolio to at least 14 by 2028.
Sample technologies: Two important new
instrument launches are planned along with several new consumables
kits to strengthen QIAGEN’s leadership in this important first step
of lab workflows. QIAsymphony Connect is planned for launch in 2025
as an upgrade of the flagship QIAsymphony automation system,
building on over 3,300 cumulative placements. QIAGEN also plans to
enter the high-throughput automation market with the launch of
QIAsprint Connect in 2026. New kits are planned for use on QIAGEN’s
full portfolio of instruments in high-growth applications including
liquid biopsy, microbiomes and pathogen detection.
QuantiFERON: QIAGEN is a key enabler of
the global initiative to eradicate tuberculosis, a potentially
fatal bacterial infection, through its QuantiFERON-TB Gold Plus
test. About 60% of the global market for annual latent TB testing
remains available for conversion from the tuberculin skin test, as
QIAGEN steps up commercialization initiatives backed by its
best-in-class test and top automation solution with partners
DiaSorin, Tecan and Hamilton. QIAGEN is also partnering with
DiaSorin on a test for detection of Lyme Disease, which is
available in Europe and has been submitted for U.S. regulatory
approval.
-
Drive efficiency and digitization to fuel growth and improve
profitability
QIAGEN announced plans to achieve at least a 31%
CER adjusted operating income margin in 2028. Key drivers involve a
series of new initiatives to free up resources for reallocation and
to expand operational margins.
These initiatives include streamlining the
portfolio, in particular the recent decision to discontinue the
NeuMoDx system. They also include initiatives to simplify the
organization, improve end-to-end processes, in particular through
an upgrade of QIAGEN’s SAP enterprise resource system; and optimize
the site network. QIAGEN is seeking to harness the power of
digitization to fuel growth and improve profitability, with about
30 AI initiatives under way.
-
Ensure disciplined capital allocation for growth and shareholder
value
QIAGEN plans to continue implementing its
disciplined capital allocation strategy anchored by strong cash
flow trends and a healthy balance sheet.
This strategy involves (1) profitable organic
investments into the business; (2) focused M&A through
value-creating transactions, and (3) a new plan to return at least
$1 billion to shareholders from 2024 to 2028 (absent M&A).
QIAGEN returned approximately $300 million to shareholders through
a synthetic share repurchase in January 2024, and shareholders will
be asked at the upcoming Annual General Meeting to approve a new
$300 million synthetic repurchase program.
-
Deliver strategy through responsibility, empowerment and
reinvigorated leadership
Achieving these 2028 targets can only be done by
creating an even stronger culture among QIAGEN’s 6,000 employees in
terms of empowerment, accountability and ownership. QIAGEN
reaffirmed its commitment to its ESG (Environment, Social,
Governance) goals, including a validated target to reach net zero
carbon emissions by 2050 and maximize contributions to more than 50
public health partnerships around the world.
About QIAGEN
QIAGEN N.V., a Netherlands-based holding
company, is the leading global provider of Sample to Insight
solutions that enable customers to gain valuable molecular insights
from samples containing the building blocks of life. Our sample
technologies isolate and process DNA, RNA and proteins from blood,
tissue and other materials. Assay technologies make these
biomolecules visible and ready for analysis. Bioinformatics
software and knowledge bases interpret data to report relevant,
actionable insights. Automation solutions tie these together in
seamless and cost-effective workflows. QIAGEN provides solutions to
more than 500,000 customers around the world in the Life Sciences
(academia, pharma R&D and industrial applications, primarily
forensic) and Molecular Diagnostics (human healthcare). As of March
31, 2024, QIAGEN employed 6,000 people in over 35
locations worldwide. Further information can be found at
http://www.qiagen.com.Forward-Looking Statement
Certain statements contained in this press
release may be considered forward-looking statements within the
meaning of Section 27A of the U.S. Securities Act of 1933, as
amended, and Section 21E of the U.S. Securities Exchange Act of
1934, as amended. To the extent that any of the statements
contained herein relating to QIAGEN's products, timing for launch
and development, marketing and/or regulatory approvals, financial
and operational outlook, growth and expansion, collaborations,
markets, strategy or operating results, including without
limitation its expected adjusted net sales and adjusted diluted
earnings results, are forward-looking, such statements are based on
current expectations and assumptions that involve a number of
uncertainties and risks. Such uncertainties and risks include, but
are not limited to, risks associated with management of growth and
international operations (including the effects of currency
fluctuations, regulatory processes and dependence on logistics),
variability of operating results and allocations between customer
classes, the commercial development of markets for our products to
customers in academia, pharma, applied testing and molecular
diagnostics; changing relationships with customers, suppliers and
strategic partners; competition; rapid or unexpected changes in
technologies; fluctuations in demand for QIAGEN's products
(including fluctuations due to general economic conditions, the
level and timing of customers' funding, budgets and other factors);
our ability to obtain regulatory approval of our products;
difficulties in successfully adapting QIAGEN's products to
integrated solutions and producing such products; the ability of
QIAGEN to identify and develop new products and to differentiate
and protect our products from competitors' products; market
acceptance of QIAGEN's new products and the integration of acquired
technologies and businesses; actions of governments, global or
regional economic developments, weather or transportation delays,
natural disasters, political or public health crises, and its
impact on the demand for our products and other aspects of our
business, or other force majeure events; as well as the possibility
that expected benefits related to recent or pending acquisitions
may not materialize as expected; and the other factors discussed in
our most recent Annual Report on Form 20-F. For further
information, please refer to the discussions in reports that QIAGEN
has filed with, or furnished to, the U.S. Securities and Exchange
Commission.
Source: QIAGEN N.V.Category: Financial
John Gilardi
QIAGEN N.V.
+49 2103 29 11711
ir@qiagen.com
Domenica Martorana
QIAGEN N.V.
+49 2103 11244
ir@qiagen.com
Thomas Theuringer
QIAGEN N.V.
+49 2103 29 11826
pr@qiagen.com
Lisa Mannagottera
QIAGEN N.V.
+49 2103 29 14181
pr@qiagen.com
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