Sartorius: Single Use Support & Danaher's Fluid Management Technology Edge

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I'll just ask a big picture question because I'm curious. We think over long time spans. So, if we're sitting here 10 years from now, there's a strong argument that the amount of bioprocess equipment needed will be much more due to aging and new developments in drug discovery and the big pipeline of new molecules. I'm trying to figure out whether Sartorius will gain market share and grow margins or lose share and see its margins erode.

I advised them to proceed because with some single-use support, we aimed to develop the product in Long Island, U.S., close to the American pharmaceutical industry, which wanted local development. I suggested buying them for €100 million. Buy, buy, buy. The same decision was made again. About a year and a half ago, the value of single-use support reached €1 billion or dollars and was acquired by Danaher. This contributed to the strong decline of Sartorius. I was frustrated with René Fáber because he ignored my recommendations and trusted people who eventually were let go a year later. It was a clear mistake not to make the right investment. They invested in other companies, and I believe those investments were excessively high. To put it briefly, Sartorius lost significant market shares, especially in the last part in FMT, because single-use support not only developed the frozen transport system, which is now state-of-the-art, but also the freeze and thaw system and the filling system.

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