Agilent Technologies Inc. reports developments across analytical and clinical laboratory technologies, including instruments, software, services and scientific expertise used by life science, diagnostics, applied, biopharmaceutical, chemical, advanced materials, clinical lab, environmental, food, forensics, academic and government customers. Company updates commonly address financial results, product launches, laboratory workflows and changes in senior legal, governance and compliance leadership.
Recent Agilent news has highlighted the BioTek Cytation 9 cell imaging multimode reader for cell-based research and high-content screening, cancer research and diagnostics workflows, and FDA-approved companion diagnostic indications for PD-L1 IHC 22C3 pharmDx, including use in identifying certain esophageal or gastroesophageal junction carcinoma patients who may be eligible for KEYTRUDA.
Agilent Technologies (NYSE: A) announced FDA approval for its Ki-67 IHC MIB-1 pharmDx (Dako Omnis) as a diagnostic tool for early breast cancer (EBC) patients at high risk of disease recurrence. This assay, developed in partnership with Eli Lilly, is the first to be approved for use with the drug Verzenio (abemaciclib). The approval is critical for better recurrence risk assessment, complementing traditional staging methods. This move positions Agilent as a key player in the diagnostic assay market, enhancing treatment decision-making for high-risk EBC patients.
Agilent Technologies (NYSE: A) awarded the Agilent Thought Leader Award to Professor Bernhard Lendl from TU Wien for his pioneering work in vibrational spectroscopy. This award aims to enhance infrared quantum cascade laser applications in biopharma, specifically improving analysis methods for biomolecules in challenging aqueous environments. The recognition highlights the importance of advancing analytical tools for rapid assessment of therapeutic proteins and viral vectors, addressing critical bottlenecks in biopharmaceutical workflows.
Agilent Technologies, Inc. (NYSE: A) has appointed Dr. Mikael Dolsten, Pfizer's Chief Scientific Officer, to its board of directors effective September 21, 2021. Dr. Dolsten brings over 30 years of pharmaceutical expertise, having led numerous drug candidates into human studies and contributing to the development of over 30 approved drugs and vaccines. His leadership in small-molecule medicines and biotherapeutics is expected to enhance Agilent's strategic initiatives. This appointment is seen as a significant addition to the board, aiming to strengthen Agilent's capabilities in life sciences and diagnostics.
Agilent Technologies, Inc. (NYSE: A) announced a quarterly dividend of 19.4 cents per share, payable on October 27, 2021, to shareholders on record as of October 5, 2021. The decision on future dividends will depend on the board's approval. For fiscal year 2020, Agilent generated $5.34 billion in revenue and employs approximately 16,400 people worldwide. This announcement reflects the company's commitment to returning value to its shareholders while navigating industry uncertainties.
Agilent Technologies (NYSE: A) has awarded the prestigious Agilent Thought Leader Award to Dr. David R. Liu, a notable researcher in genome editing. This recognition aims to support Dr. Liu's groundbreaking work on CRISPR applications and genetic diseases. Agilent's funding will enhance research into molecular editing tools such as base and prime editing, which target genetic disorders. Dr. Liu expressed gratitude for the support, while Agilent emphasized its commitment to advancing CRISPR methodologies and genomics profiling tools, contributing to significant scientific advancements.
Agilent Technologies (NYSE: A) has signed a worldwide distribution agreement with Visiopharm to co-market AI-driven precision pathology software alongside Agilent's automated staining solutions. This collaboration, initially focused on Europe, marks Agilent's entry into the digital pathology market, which is projected to double in adoption by 2030. The COVID-19 pandemic has accelerated this trend as pathologists increasingly use remote reporting. The partnership aims to enhance diagnostic accuracy and workflow efficiency for pathologists, contributing to improved patient care.
Agilent Technologies Inc. (NYSE: A) will participate in the Wells Fargo Virtual Healthcare Conference on Sept. 9, 2021, featuring a live webcast discussion with Mike McMullen, President and CEO, and Bob McMahon, CFO. The event is scheduled for 11:20 a.m. ET / 8:20 a.m. PT. Links for the webcast will be available on the Agilent Investor Relations website, with a replay accessible afterward. Agilent is known for its contributions to life sciences, diagnostics, and applied chemical markets, having generated $5.34 billion in revenue in fiscal year 2020.
Agilent Technologies (NYSE: A) announced the expanded use of its PD-L1 IHC 22C3 pharmDx assay in Europe, now CE-IVD marked for identifying esophageal cancer patients eligible for KEYTRUDA treatment with a Combined Positive Score (CPS) ≥ 10. This assay supports treatment for patients with locally advanced unresectable or metastatic esophageal carcinoma. In 2020, almost 53,000 esophageal cancer cases were reported in Europe. The PD-L1 assay is crucial for enhancing diagnostic confidence as more patients qualify for anti-PD-1 therapies like KEYTRUDA.
Agilent Technologies (NYSE: A) supports research by IIT Bombay and QIMR Berghofer on a new method to distinguish between severe and mild COVID-19 patients. Using the Agilent Cary 630 FTIR Spectrometer, researchers analyzed blood plasma from 160 patients and developed a classification algorithm. The method showed 69.2% specificity and 94.1% sensitivity in predicting severe cases. This advancement aims to aid healthcare workers in prioritizing resources efficiently amid ongoing COVID-19 challenges. Agilent's commitment to infectious disease research is underscored by this collaboration.
Agilent Technologies reported $1.59 billion in revenue for Q3 2021, marking a 26% year-over-year increase. GAAP net income was $264 million or 86 cents per share, up from $199 million or 64 cents in Q3 2020. Non-GAAP net income rose to $337 million or $1.10 per share, compared to $243 million or 78 cents a year ago. The company raised its revenue outlook for FY 2021 to between $6.29 billion and $6.32 billion and expects Q4 revenue of $1.63 billion to $1.66 billion.