Danaher Corporation DHR recently partnered with AstraZeneca PLC AZN to develop and market novel diagnostic tools aimed at improving patient selection for precision medicine treatments.
Based in Cambridge, UK, AstraZeneca is a biopharmaceutical company that researches, develops, manufactures and commercializes innovative prescription medicines. The company works with primary and specialty care doctors through distributors and representative offices in the US, the UK, Europe and Asia.
Inside the Headlines
Precision medicines are targeted therapies that customize medical treatment according to a patient’s genetic makeup, environment and lifestyle. This approach helps doctors choose the best treatments for each patient.
Per the deal, the two companies will use the newly established Danaher Centers for Enabling Precision Medicine, created to simplify the full development process of diagnostic tools. The partnership’s first product will be developed by utilizing technologies from DHR’s subsidiary Leica Biosystems which is known for its digital pathology solutions. The collaboration will begin with a focus on AI-assisted algorithms and digital & computational pathology tools, that aim to improve diagnostic accuracy and patient selection for precision treatments.
Through this partnership, Danaher and AstraZeneca will create new diagnostic tools to help doctors figure out which patients will benefit the most from precision medicines. By making these tests available in labs around the world, the two companies aim to make precision medicine more accessible and improve treatment outcomes for patients worldwide.
DHR’s Zacks Rank & Price Performance
Danaher is benefiting from strong demand in its bioprocessing business, fueled by increased consumables orders from major pharmaceutical customers across North America, Europe, and Southeast Asia within the Biotechnology segment. Strength in the discovery and medical business also bodes well for the segment.
However, lower demand across academic and government end-markets has been weighing on Danaher’s protein consumables, flow cytometry and lab automation solutions businesses within the Life Sciences segment.
In the past three months, this Zacks Rank #3 (Hold) company’s shares have lost 7.4% compared with the industry’s 7% decline.
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AstraZeneca PLC (AZN): Free Stock Analysis Report Danaher Corporation (DHR): Free Stock Analysis Report GeneDx Holdings Corp. (WGS): Free Stock Analysis Report BrightSpring Health Services, Inc. (BTSG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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