MINNEAPOLIS - Bio-Techne (NASDAQ:TECH) Corporation (NASDAQ: TECH), a provider of life sciences research tools and diagnostic reagents, has announced a new distribution agreement with Thermo Fisher Scientific (NYSE:TMO), set to commence on May 1, 2024. This strategic partnership aims to distribute Bio-Techne's product portfolio across Europe through Thermo Fisher's Fisher Scientific Channel.
The collaboration between Bio-Techne and Thermo Fisher, a leader in laboratory products and services, is expected to enhance the availability of Bio-Techne's products, such as antibodies, proteins, Immunoassay kits, reagents, and enzymes, to research institutions and laboratories throughout the European region.
Kim Kelderman, President and CEO of Bio-Techne, expressed enthusiasm about leveraging Thermo Fisher's extensive distribution network to support European researchers and contribute to advancements in healthcare. Claire Wallace, President of Research and Safety Market Europe at Thermo Fisher, echoed this sentiment, highlighting the partnership's role in empowering scientific research.
The agreement is seen as a move to reinforce Thermo Fisher's commitment to innovation and collaboration within the scientific community, providing researchers with access to cutting-edge tools for breakthrough discoveries.
Bio-Techne, which reported over $1.1 billion in net sales for fiscal 2023, is recognized for its contributions to biological research and clinical diagnostics. Thermo Fisher, with a global team and more than $40 billion in annual revenue, continues to focus on supporting scientific advancement and healthcare improvements.
This distribution agreement is part of Thermo Fisher's ongoing efforts to strengthen its position as a reliable partner for the European research and laboratory sector. The new partnership is based on a press release statement from Bio-Techne Corporation.
InvestingPro Insights
As Bio-Techne Corporation (NASDAQ: TECH) enters into a new distribution agreement with Thermo Fisher Scientific, investors are closely monitoring the financial health and market position of the company. With a market capitalization of $10.07 billion and a P/E ratio of 45.25, Bio-Techne shows a significant valuation in the life sciences sector. The company's commitment to maintaining dividend payments, with a recent yield of 0.5%, reflects its stable financial practices and dedication to shareholder returns, having done so for 17 consecutive years. This is a testament to Bio-Techne's financial resilience and may provide a sense of security to investors looking for steady income streams.
In terms of operational performance, Bio-Techne's gross profit margin for the last twelve months as of Q2 2024 stands at a robust 67.26%, indicating a strong ability to manage costs and maintain profitability. Additionally, the company's liquid assets exceed its short-term obligations, which is an important indicator of financial stability and an ability to weather potential market volatility. This, coupled with the fact that Bio-Techne's cash flows can sufficiently cover interest payments, suggests a solid financial foundation as it expands its European distribution network.
Investors looking to further evaluate Bio-Techne's investment potential can explore additional InvestingPro Tips that delve into the company's valuation multiples, debt levels, and profitability forecasts. Currently, InvestingPro offers 9 more tips for a comprehensive analysis of Bio-Techne. For those interested in a deeper dive, using the coupon code PRONEWS24 will secure an additional 10% off a yearly or biyearly Pro and Pro+ subscription, granting access to exclusive insights that could inform investment decisions.
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