- Tecan expects continued strong demand in Europe and the United States
- from the biotech and pharmaceutical industries
- Outlook unaffected by the predicted slowdown of sales in some sectors of
- the industry
- Total sales projected to grow above 30% in local currencies in 2001
Zurich, Switzerland, 23 March 2001 – Tecan, a leading player in the Life Sciences supply industry, announced today that it did not expect any changes in its predicted sales growth figures for 2001 despite recent predictions by some companies of decreased sales for certain sectors of the Life Sciences market. Tecan confirmed its forecasts made earlier in the year where it anticipated sales growth of at least 30% in local currencies in 2001.
Dr Emile Sutcliffe, Chief Executive Officer of Tecan, commented: “We have no evidence of any change in our growth rate or in the demand for our products. We have a strong product portfolio, broad geographical reach and a good position in our high-growth markets of Genomics, Proteomics, Drug Discovery and Diagnostics.” He added: “We expect overall demand to continue driven by the considerable needs of the biotech and pharmaceutical industries in Europe and North America.”
Some companies have recently lowered sales expectations leading to concerns over the overall growth rate of the Life Sciences sector. However, such predictions are based on specific companies, differing business models, and particular segments of the market. As such, they appear insufficient to make extrapolations to the industry as a whole.
Mr Sutcliffe remarked: ”Tecan has built a strong product range to serve all sectors of the Life Sciences industry. Our diverse product portfolio, successful core competencies, and presence in all geographic markets will ensure that Tecan continues to deliver superior services to its customers.”
In 2000, Tecan reported a 40.6% increase in net profit to CHF 39.5 million or 14.4 % of sales, compared with CHF 28.1 million, or 14.5% of sales, in 1999. Total sales for the year 2000 increased 41.7% to CHF 273.5 million (1999: 193.1 million), an increase in sales of 33% in local currencies. For 2001, Tecan expects sales growth consistent with the performance shown in 2000.