Sentiment Analysis of the earnings transcript to help figure out if there are any bullish or bearish sentiments that could be gathered from it. We're doing ML and AI based analysis on the earnings call to get some more insights.
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| Statement |
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| That business had an excellent 2023 in terms of growth, so strong performance |
| And that reputation has helped us well |
| You look at the rates of growth that we've had, we've delivered incredible performance there |
| You had an incredibly strong 2022 |
| So our team has done a really good job, right? When I think about it's an innovation-led business |
| I mean it is a phenomenal business that has had amazing historical growth |
| And those are instruments that bringing out relevant innovation, drives adoption irrespective of the market environment, right? And if you look in the life sciences mass spec business, you look at last year, an excellent year of growth |
| And I and our leadership team and actually all of our colleagues just know that '24 is our year and we're going to do a great job and we're going to deliver results that our investors are super proud of |
| And at the same point in time, I think it creates opportunities for us to leverage the great relationships and capabilities that we have and drive growth in the future |
| And that means that our commercial execution will be better, the benefits of PPI will be better |
| And it's really driven Astral, which is our latest mass spectrometer, it's super profound in terms of its capability, and it's adoption has been very strong |
| And we have enjoyed very strong growth there because of the uniqueness of our capability |
| And effectively, we have a high degree of confidence that we're able to grow 3% faster |
| I'm very excited about Olink |
| I feel very confident in our ability to deploy meaningful capital over the next five years |
| So we have a good track record here, and we've been able to consistently deploy capital |
| And one of the things that we have demonstrated is doing great work for our customers to help them develop medicines and scale them in a cost-effective manner so that they can meet demand |
| But the midterm here should be excellent in terms of where the instrument business is positioned |
| But to say that long-term growth in the high single digit, low double digit, I think it's a very reasonable assumption for our industry in the midterm and we have an incredibly strong reputation in the country |
| And so I'm very bullish about the long term prospects of the industry |
| The material science semiconductor segment is quite healthy |
| And therefore, when customers work with us, they're getting the very best |
| So I feel we're well positioned to capitalize on it |
| So we are throughout the value chain and have an incredibly strong position, and those businesses are all leading positions |
| And we have a good reputation with the Chinese government |
| We are the second largest clinical research set of capabilities and have great momentum with our customers there |
| And as there's been a desire to have more supply chain resilience in the world, that bodes really well for a well-capitalized company serving that market |
| We're a company that has enabled a healthier China and make sure the food supply is safe and the air that the Chinese breathe is clean, like our technologies are used for basic societal good |
| So when I think about the longer term, I feel incredibly confident about the 7% to 9% |
| You saw the benefits of our PPI business system in terms of really navigating a challenging environment |
| Statement |
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| And China didn't hit the brakes very quickly on lack of business confidence and other challenges in the economy |
| The biotech business definitely suffered because it was a huge speculative bubble around COVID that happened there, but that seems largely behind us |
| It actually is a negative to our 2024 numbers because we have to go through a tech transfer process |
| In terms of the Novo Holdings announcement, great company, it tells you about the shortage of capacity that exists in the industry |
| And it doesn't mean that they were bad, but they didn't meet our goals |
| So you have a tremendous headwind in the numbers |
| That would be a longer-term negative in terms of the change in spend rate |
| So the first half is going to be below that and the second half would show return to modest growth |
| You had a very challenging comparison industry just talk on all the different things that others have talked about |
| So you had a muted environment |
| So we're down 3%, I think, organic |
| Last year you had a really tough comp |
| And it'll have some headwinds, but I don't think it's significant |
| Low double-digit percentage of your revenues and I think you were down by almost high single digits in '23, growing double digits the last three years to four years |
| And we were able to repurpose that capacity for a very large class of medicines that there's a shortage of drug production supply |
| In last year, we got -- some of the results were slightly flatter by the supply chain disruptions that happened in 2022 because of COVID, and so that doesn't repeat |
| I also think this is the kind of year, and many of you have heard me say this in years past, every day, that something really bad in the world doesn't happen actually will help also, right? We're just -- we're in a world where there's lots of things to worry about, whether you worry about the Middle East or you worry about Eastern Europe or you worry about whatever it is |
| Think of that headwind, I'd say, a relatively normal environment in large pharma |
| Short term, it's challenged, right? And it's not different right now than it was last year which is the government is dealing with a property bubble, they're dealing with provincial debt |
| And then the conditions in China, I would say we're expecting that it'll be relatively muted environment plus embedded in the guidance |
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