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Cytiva, Danaher’s Biotechnology franchise, was created from the combination of two of the company’s largest historical acquisitions: GE Healthcare (2019) for $21bn, and Pall (2015) for $13.6bn. We’ve spent the last 6 months digging through old Pall and Amersham filings to understand the underlying asset quality of Cytiva’s portfolio in each product segment.
This learning journey curates the last 6 months of our work on Cytiva, Danaher’s processing business, with a focus on the downstream process and products. We explore:
History of how Danaher’s Biotechnology division: GE, Pall, Amersham, Pharmacia, etc
Upstream vs downstream bioprocess and equipment types
The FDA specific process and sole source products
Pall’s filtration portfolio; moat, competition
Pharmacia’s chromatography moat
Potential product risks to Cytiva’s portfolio
How Danaher may bundle Pall and Cytiva
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