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Agilent (A) Boosts PD-L1 IHC 28-8 pharmDX Use in European Union
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Agilent Technologies (A - Free Report) has expanded the use of PD-L1 IHC 28-8 pharmDx assay for patients suffering from esophageal squamous cell carcinoma in the European Union (EU).
The assay will enable pathologists to identify patients in need of treatment with PD-1-targeted immunotherapeutic OPDIVO in combination with fluoropyrimidine and platinum-based chemotherapy or YERVOY.
Additionally, the assay demonstrates an increase in survival by providing PD-1-directed treatment, which is much better than chemotherapy sessions.
The latest move bodes well for Agilent’s strengthening endeavors toward the advancement of companion diagnostics for cancer treatment.
The recent initiative makes Agilent well positioned to capitalize on immense prospects in the companion diagnostics market.
Rising preferences for targeted therapies and growing applications of customized medicines remain key drivers of the market.
Higher prevalence of chronic diseases and increasing incidences of allergies in patients owing to side effects of medicines are also propelling this market.
Per the Mordor Intelligence report, the companion diagnostics market was worth $5.9 billion in 2021. The market is further expected to register a CAGR of 20.4% from 2022 to 2027.
Further, a report by Markets and Markets indicates that the market is expected to hit $9.9 billion by 2026, witnessing a CAGR of 12.6% between 2021 and 2026.
Portfolio Strength - Key Catalyst
The main reason behind Agilent’s successful expansion of the pharmDx assay is its technology portfolio strength. The company has been continuously making strong initiatives to expand its portfolio of innovative technology solutions in life sciences, diagnostics and applied chemical markets.
The company recently introduced three InfinityLab Bio Liquid Chromatography systems to address the biopharma industry requirements.
It also released SureSelect Human All Exon V8, an exome design that provides extensive and recent coverage of protein coding regions from RefSeq, CCDS and GENCODE in both clinical as well as translational research.
Further, the company’s unveiling of the Agilent 8697 Headspace Sampler with integrated gas chromatography communication in the pharmaceutical space remains a positive.
We believe that these endeavors will continue to benefit Agilentin gaining strong momentum in various end-markets served.
Zacks Rank & Stocks to Consider
Currently, Agilent carries a Zacks Rank #3 (Hold).
Image: Bigstock
Agilent (A) Boosts PD-L1 IHC 28-8 pharmDX Use in European Union
Agilent Technologies (A - Free Report) has expanded the use of PD-L1 IHC 28-8 pharmDx assay for patients suffering from esophageal squamous cell carcinoma in the European Union (EU).
The assay will enable pathologists to identify patients in need of treatment with PD-1-targeted immunotherapeutic OPDIVO in combination with fluoropyrimidine and platinum-based chemotherapy or YERVOY.
Additionally, the assay demonstrates an increase in survival by providing PD-1-directed treatment, which is much better than chemotherapy sessions.
The latest move bodes well for Agilent’s strengthening endeavors toward the advancement of companion diagnostics for cancer treatment.
Agilent Technologies, Inc. Price and Consensus
Agilent Technologies, Inc. price-consensus-chart | Agilent Technologies, Inc. Quote
Growing Companion Diagnostics Market
The recent initiative makes Agilent well positioned to capitalize on immense prospects in the companion diagnostics market.
Rising preferences for targeted therapies and growing applications of customized medicines remain key drivers of the market.
Higher prevalence of chronic diseases and increasing incidences of allergies in patients owing to side effects of medicines are also propelling this market.
Per the Mordor Intelligence report, the companion diagnostics market was worth $5.9 billion in 2021. The market is further expected to register a CAGR of 20.4% from 2022 to 2027.
Further, a report by Markets and Markets indicates that the market is expected to hit $9.9 billion by 2026, witnessing a CAGR of 12.6% between 2021 and 2026.
Portfolio Strength - Key Catalyst
The main reason behind Agilent’s successful expansion of the pharmDx assay is its technology portfolio strength. The company has been continuously making strong initiatives to expand its portfolio of innovative technology solutions in life sciences, diagnostics and applied chemical markets.
The company recently introduced three InfinityLab Bio Liquid Chromatography systems to address the biopharma industry requirements.
It also released SureSelect Human All Exon V8, an exome design that provides extensive and recent coverage of protein coding regions from RefSeq, CCDS and GENCODE in both clinical as well as translational research.
Further, the company’s unveiling of the Agilent 8697 Headspace Sampler with integrated gas chromatography communication in the pharmaceutical space remains a positive.
We believe that these endeavors will continue to benefit Agilentin gaining strong momentum in various end-markets served.
Zacks Rank & Stocks to Consider
Currently, Agilent carries a Zacks Rank #3 (Hold).
Investors interested in the broader technology sector can consider stocks like Apple (AAPL - Free Report) , Mimecast Limited and Teradata (TDC - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Apple has gained 31.8% in the past year. The long-term earnings growth rate for AAPL is currently projected at 12.5%.
Mimecast Limited has gained 96.3% in the past year. MIME’s long-term earnings growth rate is currently projected at 15%.
Teradata has gained 15.7% in the past year. The long-term earnings growth rate for TDC is currently projected at 19.5%.