Welcome to our dedicated page for Avantor news (Ticker: AVTR), a resource for investors and traders seeking the latest updates and insights on Avantor stock.
Avantor, Inc. reports developments as a life science tools company supplying mission-critical products and services to life sciences and advanced technology customers through its VWR Distribution & Services and Bioscience & Medtech Products businesses. Recurring updates cover earnings, cash flow, leverage, guidance, segment performance and the company’s Revival transformation program, including VWR brand activity, manufacturing and supply-chain improvements and e-commerce upgrades.
Company news also covers portfolio and infrastructure actions such as Masterflex fluid handling systems, single-use assemblies, peristaltic pumps, J.T. Baker high-purity process chemicals, and expanded microbial and stability testing capabilities for regulated biopharma manufacturing. Governance and management updates include finance leadership changes and appointments tied to bioscience, medtech products and enterprise transformation.
Audax Private Equity has completed the acquisition of Avantor, Inc.'s (NYSE: AVTR) clinical services business, rebranding it as Resonant Clinical Solutions. Resonant comprises three established brands: EPL Archives, MESM, and Therapak, which provide comprehensive services to pharmaceutical, biotechnology, CRO, and diagnostic laboratory customers.
Audax plans to drive organic and inorganic growth for Resonant, enhancing existing solutions and adding complementary capabilities through M&A. The company aims to capitalize on the increasing complexity of clinical trial services, which is driving outsourcing to specialists like Resonant.
Moelis & Company and Ropes & Gray LLP advised Audax, while J.P. Morgan Securities and Arnold & Porter advised Avantor in the transaction.
Avantor (NYSE: AVTR) has closed the divestiture of its clinical services business to Audax Private Equity for approximately $650 million. The transaction is expected to yield $500 million in after-tax cash proceeds and reduce capitalized leases by about $50 million. Avantor plans to use the proceeds to pay down debt.
CEO Michael Stubblefield stated that this move will strengthen the company's balance sheet, reduce interest expenses, and allow focus on strategic growth in lab and production businesses. J.P. Morgan Securities and Arnold & Porter LLP advised Avantor, while Moelis & Company and Ropes & Gray LLP advised Audax in the transaction.
Avantor's NuSil brand has won the 2024 North American Daily Kaizen Management award from the Kaizen Institute, recognizing their commitment to operational excellence and continuous improvement. NuSil, a leading provider of high-purity silicones for healthcare and advanced technologies, was honored for leveraging lean practices to deliver innovative results.
The award highlights Avantor's dedication to the Avantor Business System (ABS), which is built on Kaizen principles. ABS is a set of unified practices and standard processes that enhance operational excellence and create value for stakeholders. It has helped Avantor reduce lead times, eliminate waste, and foster a culture of learning and execution.
Benoit Gourdier, Executive Vice President and Head of Avantor's Bioscience Production Segment, expressed pride in the recognition, emphasizing how ABS has benefited associates, customers, and shareholders.
Avantor, Inc. (NYSE: AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technology industries, has announced its plans to release its third quarter 2024 financial results on Friday, October 25, 2024. The company will release the results before the market opens and will hold a conference call on the same day at 8:00 a.m. Eastern Time to discuss the results.
Interested parties can access a live audio webcast of the session by visiting the Events & Presentations section in the Investor area of Avantor's website at ir.avantorsciences.com. For those unable to attend the live session, a replay of the webcast will be available for 30 days following the event.
Avantor (NYSE: AVTR) has entered into a 10-year virtual power purchase agreement through the Energize program, aimed at increasing renewable energy access for pharmaceutical supply chains. This agreement will provide 25GWh of renewable energy annually starting in 2026, reducing Avantor's greenhouse gas emissions by 17,465 metric tons, equivalent to the energy consumption of 2,278 households for one year. Avantor is also developing three new solar projects in Spain to support its European operations. Additionally, the company has completed solar installations in Singapore, India, Sweden, and New York, with more planned in New Jersey and other locations to meet its 2030 emissions reduction targets.
Avantor, Inc. (NYSE: AVTR) announced its participation in the BioProcess International 2024 conference, scheduled for September 23-26 in Boston. The company will deliver multiple scientific presentations and exhibit at the event, which is expected to attract over 3,200 biopharmaceutical professionals from 40+ countries.
Key presentations include:
- A novel approach to AAV harvest and purification process optimization
- Keynote address on adapting to changing molecules and regulatory expectations
- Viral gene therapy manufacturing at scale
Avantor will also showcase its Magnetic Mixing Systems portfolio on the exhibit floor, focusing on solutions for production scale-up and downstream process optimization. The company's presence at the conference underscores its commitment to delivering innovative solutions for biopharmaceutical development and production challenges.
Avantor (NYSE: AVTR), a leading global provider in life sciences and advanced technologies, has been awarded a Bronze Medal from EcoVadis for the second consecutive year. The company's sustainability performance score of 65, awarded in August 2024, places it in the top 17% of over 130,000 companies rated globally. This represents a significant 15-point improvement from its 2023 score.
Avantor's 'Science for Goodness' sustainability platform focuses on four pillars: People & Culture, Innovation & Environment, Community Engagement, and Governance & Integrity. This framework aims to create long-term value for all stakeholders, including associates, customers, suppliers, stockholders, and communities.
The EcoVadis rating, based on international sustainability standards, validates Avantor's commitment to sustainability and provides an actionable roadmap for continuous improvement in areas such as Environment, Labor and Human Rights, Ethics, and Sustainable Procurement.
Avantor, Inc. (NYSE: AVTR), a global leader in providing important products and services to life sciences and advanced technology industries, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. The event will take place in New York on September 5, 2024.
Michael Stubblefield, President and CEO of Avantor, will engage in a fireside chat at approximately 10:45 a.m. Eastern Daylight Time. Interested parties can access a live audio webcast of the session through the Events & Presentations section of Avantor's investor relations website. The webcast replay will remain available for 30 days following the event.
Audax Private Equity has announced a definitive agreement to acquire Avantor's Clinical Services business (NYSE: AVTR). The deal is expected to close in Q4, subject to regulatory approvals. Clinical Services provides clinical trial and laboratory supply chain services to pharmaceutical and biotechnology companies, CROs, and diagnostic laboratories. Operating 10 facilities across the US, UK, and Europe, the business offers a global logistics and equipment services network.
The acquisition includes three primary offerings: EPL Archives, MESM, and Therapak, which provide active trial and post-trial sample storage, supply chain management, and packaging and logistics for sample collection. Audax plans to invest aggressively to expand the company's commercial and technical reach, leveraging its experience in corporate carveouts and the healthcare sector.
Avantor (NYSE: AVTR) has announced a definitive agreement to divest its clinical services business to Audax Private Equity for approximately $650 million. This strategic move aims to optimize Avantor's portfolio and sharpen its focus on lab and production businesses. The transaction, expected to close in Q4 2024, will generate about $475 million in after-tax cash proceeds, which will be used for debt paydown.
The divested business, part of Avantor's Laboratory Solutions segment, has around 800 employees and is projected to generate approximately $200 million in annual revenue for 2024. This divestiture aligns with Avantor's new operating model and is expected to strengthen the company's balance sheet while reducing interest expenses.