Agilent Technologies, Inc.’s (A - Analyst Report) business has seen significant growth in China and the company continues to boost its presence in this market with its leading Life Science Tools.
The company has sealed a partnership with Burning Rock per which the latter will use Agilent SureSelect target enrichment system to develop cancer diagnostics in China.
Taking Cancer Diagnostics a Step Ahead in China
Through this partnership, the duo will be able to offer high-quality molecular diagnostic solutions including relapse monitoring, non-invasive testing, early-stage diagnosis and cancer susceptibility.
Agilent’s target enrichment system increases research accuracy and significantly saves time and resources by concentrating on regions of interest rather than the entire genome.
President of Agilent’s Diagnostics and Genomics Group Jacob Thaysen stated that “We believe that target enrichment and next-generation sequencing have a vital role to play in personalizing medicine and ultimately delivering treatments tailored to the individual. This is especially so for complex diseases such as cancer.”
The partnership makes sense for both the companies because China’s large population and increasing health awareness calls for quick and accurate cancer diagnosis.
AGILENT TECH Price
Agilent’s China Growth Story
China is emerging as a major driver of Agilent’s business, mainly because of its position as a manufacturing destination. Agilent makes test equipment that is required by manufacturers. The company’s strong market position and customer relationships in China are long-term drivers of its business. Chinese stimulus plans have fueled growth in the past and the laws passed by the government regarding food safety and environmental testing offer additional growth opportunity for Agilent.
In addition, the strength in the Life Science Tools (LST) market is expected to come from increased innovation, usage of high-end technologies in new applications and an expanded customer base. The emergence of cell-based technologies and clinical diagnostics further increase opportunities for Agilent.
About the Duo
Agilent, spun off from Hewlett-Packard in 2000, is a global leader in life sciences communications, electronics, communications and chemical analysis. Agilent has two primary business segments: Bio-Analytical Measurement and Electronic Measurement that operate in close collaboration with scientists, engineers and researchers from across the globe.
Burning Rock is a China-based diagnostic company engaged in developing cancer diagnostics based on DNA sequencing.
Zacks Rank and Stocks to Consider
Currently, Agilent is a Zacks Rank #3 (Hold) stock. Better-ranked stocks in the in the broader technology sector include LinkedIn Corporation (LNKD - Analyst Report) , Autobytel Inc. (ABTL - Snapshot Report) and Yirendai Ltd. (YRD - Snapshot Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Linkedin has seen estimates for the full year rise over the past 60 days by more than 100%. For Autobytel, estimates rose 11.2% in the last 60 days. Over the same period, Yirendai saw its estimates go up by 33.6%.
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