“M&A is expected to increase revenue $175 million year-over-year.”

In context

“er 2022. So before I conclude my prepared remarks, I thought it'd be helpful to share some more detailed thoughts around how to frame 2024. At this point in time, a good starting assumption is that our core organic revenue growth in 2024 is similar to 2023, approximately 1% growth. With our proven growth strategy, we expect to continue to take share and that would mean market growth in 2024 will be similar to 2023 with the market declining 1 to 2 points. In terms of phasing of our core organic revenue growth, it's best to assume a more challenging first half and then moderate growth in the second half. The pandemic-related revenues both testing and total vaccines and therapies are likely to be around $300 million in 2024. This is a headwind of approximately $1.3 billion, or 3% of revenue. M&A is expected to increase revenue $175 million year-over-year. That's a combination of six months of Olink, and the inorganic portion of the CorEvitas revenue in 2024. And based on current rates, we would expect FX to be a headwind to revenue in 2024 of approximately $375 million, just under 1%. So wrapping all this together, 2024 revenue dollars will be very similar to 2023. In terms of adjusted operating income dollars, with this top-line setup, we would expect to deliver similar adjusted operating income dollars through 2023. We'll continue to use the PPI Business System to manage costs very carefully but also continue to make the right long-term investments to enable us to continue to strengthen our industry leadership. Strong underlying productivity and cost controls are expected to offset the run-off in the remaining pandemic revenue, inflation”