(AOF) – BioMérieux, a specialist in in vitro diagnostics, today announced a collaboration with Oxford Nanopore Technologies, a specialist in molecular detection using nanopores, for the deployment of nanopore sequencing in the infectious disease diagnostics market. The two companies will explore opportunities to improve patient care by providing access to clinical research and in vitro diagnostic (IVD) solutions using nanopores.
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Key points
– Seventh worldwide in in vitro diagnostics and world number one in clinical microbiology, industrial applications and molecular syndromic diagnosis of infectious diseases, created in 1963;
– Turnover of €3.4 billion, 49% from the two Americas (including the United States, the group’s largest market), 33% from Europe-Africa-Middle East and 17% from Asia- Pacific;
– Organization in 2 divisions: clinical applications (38% in molecular biology, 31% in microbiology and 14% in immunoassays) and industrial applications -BioFire Defense and Applied Maths;
– Business model based on a rigorous industrial organization in in vitro diagnostics, on the positioning of niches with recurring revenues (reagents), on a positive product mix -automates, high value-added tests- and on the rise of molecular biology;
– Quality of management and governance for the 59% subsidiary of Institut Mérieux, of which Alexandre Mérieux is Chairman and Chief Executive Officer of the 9-member Board of Directors;
– Healthy balance sheet with, at the end of June 2022, €3.5 billion in equity, €513 million in cash and €67 million in net debt.
Challenges
– 4-point strategy: strengthen leadership in clinical microbiology, consolidate the reference position in syndromic diagnosis via Biofire, differentiate itself in immunoassays (VIDAS system) and develop industrial microbiology;
– Strong innovation strategy with 12% of R&D generated by 14 centers (portfolio of 570 patent families):
– 5 priorities: resistance to antibiotics, strengthening of the portfolio in immunoassays and molecular biology, new Data analytics solutions in the clinical field and, in industry, automation of solutions;
– 3 levers: structuring strategic acquisitions, research partnerships (with the Campus Biotech Digital to compensate for the lack of skills in bioproduction, with the IUT of Compiègne and the Hospices de Lyon in sequencing, within the Arpege consortium and in the European project VALUE-Dx against antibiotic resistance) and, finally, open innovation;
– 2030 environmental strategy validated by the SBTi:
– 50% reduction in direct CO2 emissions vs. 2019, via a 50% reduction in the energy consumption of activities and the vehicle fleet and remote maintenance of instruments (VIALINK system),
– environmental performance of products established from their launch;
– Continued growth, accelerated by acquisitions, in antibiotic resistance, and in the molecular biology division;
– Rapid acquisition of market share in emerging countries.
Challenges
– Sensitivity of the activity to health programs as well as to the extent of winter endemics – influenza, Covid, etc.;
– In 2023, major product launches, such as the Spotfire molecular biology platform in the United States;
– Strong impact of inflation in raw materials and wages;
– Expectations for 2023: growth in sales and price increases almost completely offsetting the inflationary impact and negative impact of approximately €40 million from exchange rate effects;
– Share buyback program.
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Loss of speed in European research
European research is losing ground to American and Chinese research. In twenty years, Europe’s share has fallen from 41% to 31% in global R&D. China’s share jumped from 1% to 8%. As for the United States, which supplanted Europe, in 2001 it devoted only 2 billion euros per year more than Europe to R&D, whereas now this gap has reached 25 billion! Some experts accuse the European authorities of not having deployed effective policies. The financing of pharmaceutical research should therefore have been better targeted via the “Horizon 2020” programme. France only comes in eighteenth position in European funding despite the quality of its research. Conversely, the United States concentrates funding on Boston and a few centers of excellence.