General Electric Company’s (GE - Free Report) business arm — GE Healthcare — has joined forces with Rockwell Automation, Inc. (ROK - Free Report) to make manufacturing process more flexible and scalable for biopharmaceutical companies.
The collaboration will leverage GE Healthcare’s proficiency in bio-pharmaceutical manufacturing technologies along with Rockwell’s industry-leading expertise in automation. Their collective proficiency in single-use bioprocessing, automation and IT knowledge will enable biopharmaceutical companies to boost manufacturing competencies, quickly respond to market demand and deliver advanced solutions.
Notably, both the companies will work on integrating the FlexFactory single-use equipment with Figurate bioprocess automation. This will help firms improve reproducibility, repeatability and compliance, thus enhancing their operational efficiency. The solutions will also facilitate digitization of batch files and processes, which will significantly shorten review times for companies. Additionally, these will enable customers in delivering instructions to workers with augmented reality, eventually enhancing batch execution, equipment setup, operations and training.
Separately, GE Healthcare also joined the Rockwell Automation PartnerNetwork Program as an equipment manufacturer partner. The move will allow it to work in collaboration with a group of companies in offering state-of-the-art distributed control systems required for streamlining customers’ supply chain and simplifying project implementation.
Existing Business Scenario
General Electric intends to become more competent by focusing on core businesses. In June 2018, the company announced its plan to become a high-tech industrial company focused on Aviation, Power and Renewable Energy. However, a weakening Power business remains a key cause of concern.
Notably, the Zacks Rank #3 (Hold) company’s share price has increased 20.5% on a year-to-date basis compared with 22.1% growth recorded by the industry.
Stocks to Consider
A couple of better-ranked stocks in the same space are United Technologies Corporation (UTX - Free Report) and Macquarie Infrastructure Company (MIC - Free Report) . Both these companies carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
United Technologies exceeded estimates in each of the trailing four quarters, the average being 14.87%.
Macquarie surpassed estimates twice in the trailing four quarters, the average being 0.51%.
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