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CLAIM #20682 · DHR (DHR) · 2023Q3 earnings call · Oct 24, 2023 · due Dec 31, 2023

As we move into the fourth quarter and our customers begin planning for the respiratory season, we now expect approximately $1.6 billion of respiratory testing revenue for the full year versus our previous expectation of $1.2 billion.

Rainer Blair · CEO

PENDING
graded after results covering Dec 31, 2023 are reported

In context

s globally, particularly in North America, which grew high-single digits in the third quarter. The team has also been accelerating new product innovation, and there's encouraging early traction in Europe for the DxI 9000, Beckman's next-generation immunoassay analyzer. In molecular diagnostics, increased menu utilization by customers paired with recent new product innovation helped drive over 20% core revenue growth in non-respiratory testing at Cepheid, including more than 25% core revenue growth in Group A strep and sexual health. In respiratory testing, Cepheid's revenue of approximately $350 million in the quarter exceeded our expectation of $100 million. A higher prevalence of COVID-19 drove both higher volumes and a preference for our 4-in-1 test for COVID-19, flu A, flu B, and RSV. As we move into the fourth quarter and our customers begin planning for the respiratory season, we now expect approximately $1.6 billion of respiratory testing revenue for the full year versus our previous expectation of $1.2 billion. The broad-based strength across Cepheid's testing menu is a result of the team's thoughtful approach to placing systems over the last few years. Customers who realized the benefit of accurate, easy-to-use molecular testing during the pandemic are increasingly consolidating their point-of-care testing platforms onto the GeneXpert and adding additional assays from our leading test menu. Their preference for the GeneXpert within their labs and across their healthcare networks has led to a more than 2.5 times increase in both our installed base and revenue since 2019. And we believe Cepheid is well positioned to continue gaining share and expanding our installed base in today's endemic environment. Now let's briefly look ahead at the expectations for the fourth quarter and the full year. As a

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SEC filings for DHR · Claim quote is verbatim from the 2023Q3 earnings call.