Danaher reported a solid fourth quarter yesterday, with its life sciences business clocking in sales of $1.6bn, up 12% on the same period 2016.
This included a core revenue growth of nearly 10% with its Pall division, making the 2015 acquisition the “stand-out” within the life sciences business, Jefferies analyst Brandon Couillard wrote in a note.
When Danaher closed the $14bn acquisition in September 2015, it entered the bioprocessing space through Pall’s filtration, separation and purification technologies.
According to Danaher CEO Tom Joyce, this represented Pall’s best quarterly growth rate since the acquisition, and was down to the continued performance of microelectronics and single-use technologies.
He also told stakeholders Pall had recovered from recent setbacks leaving biopharma to finish the year on a strong note, having “rebounded nicely from the hurricane disruptions [in Florida and Puerto Rico] that impacted third quarter results.”
He added: “We saw good order rate trends around biologic and small molecules, good order rate trend around our single use technologies as well. So on balance I would say, the overall pharma market, biologics and small molecules combined continues to be in pretty good shape.”