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Illumina (ILMN) Launches Genomic Solution Hub in Brazil
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Illumina (ILMN - Free Report) , in its efforts to expand its genomic business in Latin America, recently launched its state-of-the-art Solution Center in Sao Paulo, Brazil. The company, after observing growing interest and increasing demand for clinical genomics in Latin America, has decided to make this effort.
Illumina works with 14 Channel Partners operating across more than 25 countries in Latin America.
More on the News
This Solution Center is an 11,000-square-foot site. It has a fully operational lab equipped with advanced technologies of Illumina to help train customers and partners throughout Brazil and Latin America.
Illumina has been operating in Brazil for 10 years. The company’s customers and partners in Brazil currently span basic research, applied markets to clinical labs and healthcare institutions. According to Illumina, with this newly-developed Solution Center, it will be able to offer its partners a suitable environment for demonstrations and training sessions to optimize their education and experience with next-generation sequencing and array technologies.
Image Source: Zacks Investment Research
According to Illumina, Sao Paulo is currently an ideal hub from which it can serve new and existing customers and channel partners in the clinical market across Latin America.
This apart, Illumina has also partnered with the Ministry of Health to build a comprehensive public health network for tracking the spread of COVID-19. Notably, throughout Brazil, 26 laboratories out of 28 use Illumina's sequencing systems.
Illumina's Global Expansion at a Glance
Apart from North America, Illumina markets and distributes its products directly to customers in Europe, Latin America, and the Asia-Pacific region (APAC) either through its direct selling force or through distributors that specialize in life science products.
In the last-reported fourth quarter of 2022, EMEA revenues improved 23% year over year, driven by strength in emerging markets, population genomics initiatives and COVID surveillance testing. Revenues from Greater China (which includes China, Taiwan and Hong Kong) surged 26% year over year on continued clinical strength in the region, driven by the growing installed base in hospitals. Revenues from APJ (the Asia Pacific and Japan) grew 34% year over year driven by record NovaSeq placements and continued momentum in clinical markets, including genetic disease testing and oncology testing.
In November 2021, Illumina and Sequoia Capital China, a leading investment firm, jointly announced the selection of the first two startup companies joining the Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina. The incubator will serve as a company-creation engine focused on supporting life sciences startup companies that are poised to deliver breakthrough applications in genomics and multiomics.
Share Price Performance
In the past year, Illumina has outperformed its industry. The stock has declined 5.4% compared with the industry's 27.7% fall.
Zacks Rank and Key Picks
Illumina currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are McKesson Corporation (MCK - Free Report) , AMN Healthcare Services, Inc. (AMN - Free Report) and Bio-Rad Laboratories, Inc. (BIO - Free Report) .
McKesson has a long-term earnings growth rate of 11.8%. MCK has gained 49.7% compared with the industry’s 4.7% growth in the past year.
AMN Healthcare, sporting a Zacks Rank #1, has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 23.8% versus the industry’s decline of 62%.
Bio-Rad reported fourth-quarter 2021 adjusted EPS of $3.21, which surpassed the Zacks Consensus Estimate by 11.9%. It currently has a Zacks Rank #2.
Bio-Rad has an earnings yield of 2.3% versus the industry’s negative yield. BIO surpassed earnings estimates in the trailing four quarters, the average surprise being 66.9%.
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Illumina (ILMN) Launches Genomic Solution Hub in Brazil
Illumina (ILMN - Free Report) , in its efforts to expand its genomic business in Latin America, recently launched its state-of-the-art Solution Center in Sao Paulo, Brazil. The company, after observing growing interest and increasing demand for clinical genomics in Latin America, has decided to make this effort.
Illumina works with 14 Channel Partners operating across more than 25 countries in Latin America.
More on the News
This Solution Center is an 11,000-square-foot site. It has a fully operational lab equipped with advanced technologies of Illumina to help train customers and partners throughout Brazil and Latin America.
Illumina has been operating in Brazil for 10 years. The company’s customers and partners in Brazil currently span basic research, applied markets to clinical labs and healthcare institutions. According to Illumina, with this newly-developed Solution Center, it will be able to offer its partners a suitable environment for demonstrations and training sessions to optimize their education and experience with next-generation sequencing and array technologies.
Image Source: Zacks Investment Research
According to Illumina, Sao Paulo is currently an ideal hub from which it can serve new and existing customers and channel partners in the clinical market across Latin America.
This apart, Illumina has also partnered with the Ministry of Health to build a comprehensive public health network for tracking the spread of COVID-19. Notably, throughout Brazil, 26 laboratories out of 28 use Illumina's sequencing systems.
Illumina's Global Expansion at a Glance
Apart from North America, Illumina markets and distributes its products directly to customers in Europe, Latin America, and the Asia-Pacific region (APAC) either through its direct selling force or through distributors that specialize in life science products.
In the last-reported fourth quarter of 2022, EMEA revenues improved 23% year over year, driven by strength in emerging markets, population genomics initiatives and COVID surveillance testing. Revenues from Greater China (which includes China, Taiwan and Hong Kong) surged 26% year over year on continued clinical strength in the region, driven by the growing installed base in hospitals. Revenues from APJ (the Asia Pacific and Japan) grew 34% year over year driven by record NovaSeq placements and continued momentum in clinical markets, including genetic disease testing and oncology testing.
In November 2021, Illumina and Sequoia Capital China, a leading investment firm, jointly announced the selection of the first two startup companies joining the Sequoia Capital China Intelligent Healthcare Genomics Incubator, Powered by Illumina. The incubator will serve as a company-creation engine focused on supporting life sciences startup companies that are poised to deliver breakthrough applications in genomics and multiomics.
Share Price Performance
In the past year, Illumina has outperformed its industry. The stock has declined 5.4% compared with the industry's 27.7% fall.
Zacks Rank and Key Picks
Illumina currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are McKesson Corporation (MCK - Free Report) , AMN Healthcare Services, Inc. (AMN - Free Report) and Bio-Rad Laboratories, Inc. (BIO - Free Report) .
McKesson, carrying a Zacks Rank #2, reported third-quarter fiscal 2022 adjusted earnings per share (EPS) of $6.15, which beat the Zacks Consensus Estimate of $5.38 by 14.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
McKesson has a long-term earnings growth rate of 11.8%. MCK has gained 49.7% compared with the industry’s 4.7% growth in the past year.
AMN Healthcare, sporting a Zacks Rank #1, has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 23.8% versus the industry’s decline of 62%.
Bio-Rad reported fourth-quarter 2021 adjusted EPS of $3.21, which surpassed the Zacks Consensus Estimate by 11.9%. It currently has a Zacks Rank #2.
Bio-Rad has an earnings yield of 2.3% versus the industry’s negative yield. BIO surpassed earnings estimates in the trailing four quarters, the average surprise being 66.9%.