QIAGEN Announces 2028 Strategy for Solid Profitable Growth
● Hosts Capital Markets Day event in New York to outline strategy anchored by sharpened focus on growth pillars set to drive about 7% CER sales CAGR from 2024-2028
● Targeting at least 31% CER adjusted operating income margin in 2028 from portfolio streamlining (including NeuMoDx decision), operational efficiency gains and digitization
● Ensuring disciplined capital allocation with high level of R&D and digital investments, focus on value-creating M&A opportunities and plans to return at least $1 billion to shareholders
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Venlo, the Netherlands, and New York,– QIAGEN (NYSE: QGEN; Frankfurt Prime Standard: QIA) will announce today at its Capital Markets Day a commitment to deliver solid profitable growth through 2028 – led by about 7% compound annual sales growth (CAGR) at constant exchange rates (CER) during the four-year period and achieving at least a 31% CER adjusted operating income margin in 2028.
The event, which starts at 12:00 New York time / 17:00 London time / 18:00 Frankfurt time at the New York Stock Exchange, will feature presentations and a Q&A session with Thierry Bernard, CEO of QIAGEN, along with Roland Sackers (CFO), Nitin Sood (Head of Life Sciences), Fernando Beils (Head of Molecular Diagnostics) and Jonathan Sheldon (Head of QIAGEN Digital Insights).
A live webcast is available at https://capitalmarketsday2024.qiagen.com/home/default.aspx. A replay and related materials will be available at this link after the event.
QIAGEN’s leadership team will present the new 2028 targets, highlighting QIAGEN’s vision and strategy to sharpen its focus on growth pillars in the portfolio combined with commitments to solid profitable growth and disciplined capital allocation. This includes plans to return at least $1 billion to shareholders from 2024-2028, absent value-creating M&A opportunities, along with a high level of organic business investments.
“QIAGEN is moving ahead with a reinvigorated leadership team committed to stepping up with more focus and delivering on our new targets. We are sharpening our focus on our growth pillars, and this reflects our unwavering determination to build and maintain profitable leadership positions in fast-growing markets. We are creating ecosystems around these important pillars as we announce important new product launches to maximize their value to customers across the continuum from research to clinical healthcare. This is combined with QIAGEN raising the bar on profitability and a commitment to create greater value for our shareholders and stakeholders,” Thierry Bernard will discuss in his presentation.
“QIAGEN has developed a strong foundation for continued financial success in delivering solid profitable growth in recent years. We have announced new efficiency initiatives and want to harness the power of digitization to free up resources to enhance growth and profitability. Given our healthy balance sheet and cash flow generation, we are announcing a commitment for significant returns to shareholders while maintaining a high level of investments into our business and seeking value-creating M&A opportunities that strengthen our portfolio and create greater value,” Roland Sackers will elaborate in his presentation.
The 2028 strategy involves the following:
● Sharpen focus on growth pillars to sustain profitable growth
QIAGEN has set a goal for at least $2 billion of combined annual sales in 2028 from its pillars amid plans for new product launches and important investments:
QIAcuity digital PCR: QIAGEN is more than tripling the number of sales specialists supporting QIAcuity to drive adoption as over 100 new assays are launched. The QIAcuity-Dx version is also planned to receive U.S. regulatory clearance in 2024 for clinical use, with submission of an assay for detection of the BCR-ABL biomarker for onco-hematology planned for 2025. QIAGEN also signed its first companion diagnostic agreement for QIAcuity with an undisclosed pharma partner.
QIAstat-Dx: QIAGEN confirmed plans for the U.S. regulatory submission of a new panel for syndromic diagnosis of meningitis in 2024 to complement the European version, building on the recent U.S. regulatory approval of the gastrointestinal panel and upgraded respiratory panel.
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