CLAIM #20558 · DHR (DHR) · 2022Q2 earnings call · Jul 21, 2022 · due Dec 31, 2023
“And we still think our framework of about $1.2 billion of COVID testing revenue in 2023, which is roughly around 30 million tests, is the right way to think about it.”
Rainer Blair · CEO
In context
“ontinue to think that the non-COVID business is going to be growing very strong. You saw what we're doing here in the second half of the year with growth rates, well, over 20% in non-COVID, and then we've also, de-risked the discussion here relating COVID related therapeutics and vaccines. We see $1 billion of revenue in 2022, and that's down from $2 billion in 2021. And we'd probably say $500 million for 2023. So 2021, $2 billion, 2022, $1 billion and 2023 $500 million for COVID-related vaccine. And having said all that, we still see our biotechnology business growing at high single digits. And that leads you then with COVID testing. And we've talked about that at length. We speak to our customers about that. They still think that COVID goes endemic at the end of 2023, beginning of 2024. And we still think our framework of about $1.2 billion of COVID testing revenue in 2023, which is roughly around 30 million tests, is the right way to think about it. So when you put all that together we feel very good about the way we're positioned here from a core growth perspective, think mid-single digit plus on the base business. And then, from a COVID headwind perspective, think low-single, mid-single headwind overall giving you a solid low single digit 2023. Dan Brennan: Great, thanks Rainer. Maybe just one quick follow-up and just as it pertains to China, could you just flush out a little bit obviously the quarter progressed better than expect, and you gave some color about the [indiscernible] continuing. But kind of how do we think about implicit in your full year guide, like, what is China expected to do? And are you expecting or baking in a completely normal China, absent diagnostic for the back half? Rainer Blair: For a normal year, we woul”
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SEC filings for DHR ↗ · Claim quote is verbatim from the 2022Q2 earnings call.