Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • Resources
    • Voices
  • Advertise
  • SUBSCRIBE

COVID-19 propels growth for Avantor

By Brian Buntz | October 27, 2020

AvantorChemical company Avantor (NYSE:AVTR) recently said it expects to achieve sales growth of 5.4% in its third fiscal quarter of 2020, with biopharma and healthcare businesses driving quarterly revenues of $1.6 billion.

Avantor offers a range of ultra-high-purity materials to biopharma companies. This year, the company also created a COVID-19 division to support virus detection, therapy development, clinical trials and vaccine and therapy production services.

Avantor isn’t alone in its ability to capitalize on the COVID-19 crisis. Thermo Fisher Scientific (NYSE:TMO), for instance, has seen its stock increase roughly 50% since the beginning of the year. Danaher (NYSE:DHR), which has expanded its biopharma involvement in 2020, has won more than $1 billion in new business related to the novel coronavirus.

Avantor’s COVID-19–related businesses drove roughly 5.5% of its growth in the second quarter.

The Radnor, Pa.-based company’s stock has been “a recent outperformer,” according to a research note from UBS. Since March 18, shares in Avantor have shot up by nearly 200%, from $8.27 to $24.73 on Oct. 26, 2020. Year-to-date, however, the stock growth clocks in at 34%.

For the quarter ended Sept. 30, 2020, the company’s revenue was up 6.7% year over year.

 

About The Author

Brian Buntz

The pharma and biotech editor of WTWH Media, Brian is a veteran journalist with more than 15 years of experience covering an array of life science topics, including clinical trials, drug discovery and development and medical devices. Before coming to WTWH, he served as content director focused on connected devices at Informa. In addition, Brian covered the medical device sector for 10 years at UBM. At Qmed, he overhauled the brand’s news coverage and helped to grow the site’s traffic volume dramatically. He had previously held managing editor roles on two of the company’s medical device technology publications. Connect with him on LinkedIn or email at bbuntz@wtwhmedia.com.

Tell Us What You Think! Cancel reply

Related Articles Read More >

Great Point Partners logo.
Great Point Partners acquires majority stake in Eutecma to fuel sustainable cold chain growth
Antheia_Logo (1)
Pharma ingredient manufacturer Antheia raises $56M Series C
Prolific Machines logo.
Prolific Machines enters FDA program to enhance therapeutics manufacturing platform
Genentech roche
Roche, Genentech to build $700M drug manufacturing plant in North Carolina
“ppw
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news, technologies, and developments in Pharmaceutical Processing.

DeviceTalks Tuesdays

DeviceTalks Tuesdays

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
Pharmaceutical Processing World
  • Subscribe to our E-Newsletter
  • Contact Us
  • About Us
  • R&D World
  • Drug Delivery Business News
  • Drug Discovery & Development
  • DeviceTalks
  • MassDevice
  • Medical Design & Outsourcing
  • MEDICAL TUBING + EXTRUSION
  • Medical Design Sourcing
  • Medtech100 Index
  • R&D 100 Awards

Copyright © 2025 WTWH Media LLC. All Rights Reserved. The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media
Privacy Policy | Advertising | About Us

Search Pharmaceutical Processing World

  • Home
  • Regulatory
    • Recalls
  • Pharmaceutical Processing
  • Facility
  • Supply Chain
  • Equipment and Materials
  • Contract Manufacturing
  • Resources
    • Voices
  • Advertise
  • SUBSCRIBE