Agilent Technologies A is consistently working in the chromatography space to better serve its customers.
This is evident from Agilent’s newly-formed partnership with Mettler Toledo International MTD to minimize errors in sample preparation for improved chromatographic results.
Agilent, in collaboration with MTD, launched an integrated solution in June, which provides an automated and digitized liquid chromatography or gas chromatography workflow to remove transcription and calculation errors in the weighing process. The solution seamlessly transfers weighing results and associated metadata from Mettler Toledo LabX Balance software to Agilent OpenLab software.
The recent partnership is aimed at resolving the biggest error-related laboratory issue. It also focuses on digital transformation in laboratories to enhance productivity.
The collaboration with MTD is expected to help Agilent gain momentum among the laboratory customers, which in turn, will contribute to its top-line growth in the days ahead.
This will help Agilent gain investors’ confidence in the near term as well as in the long haul.
Agilent generated revenues of $1.72 billion in the third-quarter fiscal 2022, which increased 8% from the year-ago fiscal quarter’s level.
Shares of Agilent have been down 19.9% in the year-to-date period, outperforming the Computer and Technology sector’s decline of 29.6%.
The recent tie-up with Mettler Toledo is expected to help Agilent expand its presence in the booming chromatography market.
The underlined market has been witnessing a significant rise of late owing to the growing usage of chromatography in various fields, including pharmaceutical, chemical and food industries. Increasing demand for chromatography techniques in the drug discovery process is also creating growth in this market.
Per a Valuates Reports, the chromatography market is expected to reach $160.9 billion in 2028 from $112.6 billion in 2022, witnessing a CAGR of 6.1% during the 2022-2028 period.
An Allied Market Research report indicates that the global chromatography market is likely to hit $153.4 billion by 2030, seeing a CAGR of 5.8% from 2021 to 2030.
Agilent has been building strategic collaborations for a while to offer advanced technological solutions to its customers across various fields.
Apart from the recent alliance with MTD, Agilent collaborated with Amazon’s AMZN cloud computing platform Amazon Web Services (AWS) and NVIDIA NVDA in June.
Per the terms of the partnership, Agilent is leveraging Amazon Elastic Compute Cloud G5g instances, NVIDIA T4G Tensor Core GPUs and NVIDIA Clara Parabricks’ advanced genomics analysis capabilities to improve processing speeds for variant calling workflows on its cloud-native Alissa Reporter software.
On the back of this collaboration, Agilent is focusing on advancing the sequencing process and providing innovative analytical solutions in the genomics space.
In May, Agilent collaborated with APC Ltd., a provider of innovative small molecule and large molecule process design, and process development solutions. Per the terms of the agreement, A aims to help customers in the biopharmaceutical and pharmaceutical industry develop higher quality drugs faster.
In April, Agilent announced a partnership with the Advanced Mammalian Biomanufacturing Innovation Center to advance technologies and bring innovative measurement tools for bioprocess development, and biomolecular, cell and gene-based therapeutics manufacturing applications.
We believe, all these strategic partnerships are likely to continue shaping up the growth trajectory of Agilent in the days ahead.
Currently, Agilent carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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