SANTA CLARA, Calif. - Agilent Technologies Inc. (NYSE: NYSE:A), a healthcare diagnostics leader with a market capitalization of $40.9 billion and consistently strong financial health according to InvestingPro analysis, has achieved a new milestone in diagnostic testing for cancer, securing Class C In Vitro Diagnostic Regulation (IVDR) certification for its PD-L1 IHC (LON:IHC) 28-8 pharmDx, an assay used in determining patient eligibility for certain cancer therapies. This certification ensures the assay meets the latest EU standards for in vitro diagnostic medical devices.
The PD-L1 IHC 28-8 pharmDx, which is utilized alongside Agilent's Autostainer Link 48, is designed to detect PD-L1 expression, a biomarker that can indicate how a patient will respond to anti-PD-1 antibody therapies such as OPDIVO® (nivolumab) and OpdualagTM (nivolumab and relatimab). These therapies have shown effectiveness across a range of cancer types, making the assay's certification crucial for ongoing patient care within the EU.
This certification applies to nine cancer indications, including five companion diagnostic indications: non-small cell lung cancer (NSCLC), muscle invasive urothelial carcinoma (MIUC), melanoma, esophageal squamous cell carcinoma (ESCC), and gastric, gastroesophageal junction (GEJ), and esophageal adenocarcinoma.
Simon May, senior vice president of Agilent's Life Sciences and Diagnostics Markets Group, emphasized the importance of this certification, stating that it enhances the confidence of healthcare professionals and patients in the EU regarding the safety and reliability of these medical devices.
Companion diagnostic assays like PD-L1 IHC 28-8 pharmDx are essential tools for clinicians to identify patients who are most likely to benefit from specific treatments, thereby providing critical support in the administration of appropriate medicines. The company's strong financial position, evidenced by a healthy current ratio of 2.09 and robust gross margins of 54.3%, supports its continued investment in diagnostic innovations.Want deeper insights into Agilent's financial health and growth potential? InvestingPro subscribers have access to over 30 additional financial metrics and exclusive analysis.
Agilent Technologies, a global leader in analytical and clinical laboratory technologies, generated $6.51 billion in revenue for the fiscal year 2024 and employs approximately 18,000 people worldwide. While currently trading above its Fair Value based on InvestingPro calculations, the company maintains strong fundamentals with notably low price volatility and excellent liquidity metrics. The company's solutions span instruments, software, services, and expertise, aimed at delivering trusted answers to complex scientific questions.
The information in this article is based on a press release statement from Agilent Technologies Inc.
In other recent news, Agilent Technologies Inc. has announced its financial results for the fourth quarter of fiscal year 2024, reporting a Q4 revenue of $1.701 billion, a 1% reported growth and flat core growth compared to the previous year. The company's President and CEO, Parekh McDonnell, highlighted the company's strategic reorganization in the earnings call. The company has provided full-year fiscal 2025 revenue guidance of $6.79-$6.87 billion, indicating a reported growth of 4.3% to 5.5%.
Expected core growth for the fiscal year 2025 is projected to be between 2.5% and 3.5%. Non-GAAP EPS is forecasted to be between $5.54 and $5.61, reflecting a 5% to 6% growth. The company's organizational transformation includes a new structure divided into three groups: LDG, AMG, and ACG with respective revenues of $2.5 billion, $1.3 billion, and $2.7 billion.
Agilent anticipates more normalized growth in the market recovery during the second half of 2025. The company expects an operating margin expansion of 50-70 basis points. The company's Ignite transformation program aims to continue driving revenue growth and margin expansion. These are the recent developments in Agilent Technologies Inc.
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