We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Avantor's (AVTR) New Expansion Plans to Boost Workflow
Read MoreHide Full Article
Avantor, Inc. (AVTR - Free Report) recently announced its plans to relocate and significantly expand its Innovation Center in Bridgewater, NJ. The expanded Innovation Center, expected to open in August 2024, will be at a nearby location in Bridgewater, NJ.
The latest expansion plans are expected to significantly solidify Avantor’s foothold in the cell and gene therapy and mRNA space, among others, and boost its Research & Development and Innovation wing.
Significance of the Relocation
The Bridgewater Innovation Center currently serves as a technology-driven research and collaboration environment where Avantor works with customers to develop and enhance their offerings. The new location is expected to have a significantly expanded space compared to the present available lab and pilot space.
The new site will likely support customers' pipelines across all modalities, including monoclonals, cell and gene therapy and mRNA, and feature a development and application area, including a viral vector laboratory. Avantor's expanded Innovation Center is also expected to feature digital service offerings, such as its Inventory Manager (IM).
Per management, the expansion is expected to allow Avantor to adopt a more collaborative approach to deliver customized solutions. By adding capacity and capability to its Innovation Center, Avantor is expected to better support the increasing demands for gene therapy and mRNA workflows, facilitate pipeline project execution and enable quicker production scale-up.
Industry Prospects
Per a report by Coherent Market Insights, the global cell and gene therapy market was valued at $15,580.3 million in 2022 and is anticipated to witness a CAGR of 24.7% between 2022 and 2030. Factors like the increasing demand for innovative treatments and the developing interest in cell and gene treatments for cancer treatments are likely to drive the market.
Given the market potential, the latest expansion will likely provide a significant impetus to Avantor in the cell and gene therapy space, among others, worldwide.
Recent Developments
This month, Avantor inaugurated its expanded Singapore Hub, which includes newly-added cGMP (current Good Manufacturing Practice) manufacturing and an improved quality control laboratory. The hub is expected to serve customers across Asia, the Middle East, and Africa (AMEA).
In May, Avantor entered into an agreement with Labguru. The collaboration aims to integrate Avantor's IM and e-commerce channel into Labguru's Lab Information Management Software and Electronic Lab Notebook.
In April, Avantor announced its first-quarter 2023 results, wherein it registered a year-over-year uptick in its Europe and AMEA core organic sales. Strength in Avantor’s end markets was also recorded.
Price Performance
Shares of Avantor have lost 30.3% in the past year compared with the industry’s 13.1% decline. The S&P 500 witnessed 14.1% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Avantor carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Becton, Dickinson and Company (BDX - Free Report) , popularly known as BD, HealthEquity, Inc. (HQY - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
BD has gained 6.7% compared with the industry’s 16.5% rise over the past year.
HealthEquity, flaunting a Zacks Rank #1 at present, has an estimated long-term growth rate of 22%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 9.1%.
HealthEquity has gained 9.8% against the industry’s 13.1% decline over the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.5%. BSX’s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 1.9%.
Boston Scientific has gained 39.8% against the industry’s 23.8% decline over the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Avantor's (AVTR) New Expansion Plans to Boost Workflow
Avantor, Inc. (AVTR - Free Report) recently announced its plans to relocate and significantly expand its Innovation Center in Bridgewater, NJ. The expanded Innovation Center, expected to open in August 2024, will be at a nearby location in Bridgewater, NJ.
The latest expansion plans are expected to significantly solidify Avantor’s foothold in the cell and gene therapy and mRNA space, among others, and boost its Research & Development and Innovation wing.
Significance of the Relocation
The Bridgewater Innovation Center currently serves as a technology-driven research and collaboration environment where Avantor works with customers to develop and enhance their offerings. The new location is expected to have a significantly expanded space compared to the present available lab and pilot space.
The new site will likely support customers' pipelines across all modalities, including monoclonals, cell and gene therapy and mRNA, and feature a development and application area, including a viral vector laboratory. Avantor's expanded Innovation Center is also expected to feature digital service offerings, such as its Inventory Manager (IM).
Per management, the expansion is expected to allow Avantor to adopt a more collaborative approach to deliver customized solutions. By adding capacity and capability to its Innovation Center, Avantor is expected to better support the increasing demands for gene therapy and mRNA workflows, facilitate pipeline project execution and enable quicker production scale-up.
Industry Prospects
Per a report by Coherent Market Insights, the global cell and gene therapy market was valued at $15,580.3 million in 2022 and is anticipated to witness a CAGR of 24.7% between 2022 and 2030. Factors like the increasing demand for innovative treatments and the developing interest in cell and gene treatments for cancer treatments are likely to drive the market.
Given the market potential, the latest expansion will likely provide a significant impetus to Avantor in the cell and gene therapy space, among others, worldwide.
Recent Developments
This month, Avantor inaugurated its expanded Singapore Hub, which includes newly-added cGMP (current Good Manufacturing Practice) manufacturing and an improved quality control laboratory. The hub is expected to serve customers across Asia, the Middle East, and Africa (AMEA).
In May, Avantor entered into an agreement with Labguru. The collaboration aims to integrate Avantor's IM and e-commerce channel into Labguru's Lab Information Management Software and Electronic Lab Notebook.
In April, Avantor announced its first-quarter 2023 results, wherein it registered a year-over-year uptick in its Europe and AMEA core organic sales. Strength in Avantor’s end markets was also recorded.
Price Performance
Shares of Avantor have lost 30.3% in the past year compared with the industry’s 13.1% decline. The S&P 500 witnessed 14.1% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Avantor carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Becton, Dickinson and Company (BDX - Free Report) , popularly known as BD, HealthEquity, Inc. (HQY - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
BD, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.1%. BDX’s earnings surpassed estimates in all the trailing four quarters, with an average of 5.8%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
BD has gained 6.7% compared with the industry’s 16.5% rise over the past year.
HealthEquity, flaunting a Zacks Rank #1 at present, has an estimated long-term growth rate of 22%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 9.1%.
HealthEquity has gained 9.8% against the industry’s 13.1% decline over the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.5%. BSX’s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 1.9%.
Boston Scientific has gained 39.8% against the industry’s 23.8% decline over the past year.