Germany’s Sartorius held its Capital Markets Day last week and said it expected to achieve annual sales of around €4bn in 2025 – up from €1.4bn in 2017.
The firm’s Bioprocess Solutions Division, which incorporates disposable upstream and downstream biomanufacturing equipment and consumables, reported 2017 sales of just over €1bn last year, but is expected to pull in €2.8bn annually in seven years’ time.
Sartorius intends to do this both organically and through acquisitions, spokesperson Timo Lindemann told this publication.
“At Group level, the 2025 targets provide for two-thirds of organic growth and one-third through acquisitions.”
However, he recognised that the proportion of acquisitions in the Bioprocess Solutions Division could “possibly be somewhat lower” due to the consolidated nature of the bioprocessing market.
Such acquisitions would revolve around “products or technologies that are complementary to its existing portfolio,” Lindemann said.
“Market position should be either among the Top 3 or a unique offering. Furthermore, a company to acquire needs to have the right cultural fit and fair valuation, and reach Sartorius’ profitability level in two to three years.”
“These were tech bolt-ons, so start-ups or small companies with a unique, very innovative offering.”
M&A aside, Sartorius believes the increasing demand for biopharmaceuticals and the opening up of new markets will drive sales going forward.
CEO Joachim Kreuzburg cited: “A growing and aging population, improved access to medicines in emerging countries, a rapidly expanding market for biosimilars… emerging treatment options such as cell-based therapies” as some of the trends driving growth.
Meanwhile, Sartorius noted the Asian market will play an important role going forward, with the Chinese market being a large opportunity for the firm.