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2010 HPLC LCMS STRAP May 2010

2010 HPLC LCMS STRAP May 2010. Andy Altman Guenter Boehm Diab Elmashni Sergio Guazzotti Shannon Hawbaker Ed Long Ole Vorm. Executive Summary. Strategic Summary Achieve 16% CAGR in Stand Alone LC; improve Connectivity to MS by 45% - from 55% to 100 %

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2010 HPLC LCMS STRAP May 2010

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  1. 2010 HPLC LCMS STRAP May 2010

    Andy AltmanGuenter BoehmDiab ElmashniSergio Guazzotti Shannon Hawbaker Ed Long Ole Vorm
  2. Executive Summary Strategic Summary Achieve 16% CAGR in Stand Alone LC; improve Connectivity to MS by 45% - from 55% to 100% Establish Reinach as LC Center of Excellence. Add optical, mechanical and electrical engineering Transfer PDA re-design and multi-zone column oven from San Jose Begin development of next generation PDA/CCD and UV/Vis detectors Expand EASY product line adding UHPLC and micro flow. Strong Reinach-Odense collaboration. Create touch screen solutions for routine MS applications Comprehensive CDS strategy centered on Pertiva launch. Must quickly add MS functionality. Develop information rich detectors in conjunction with LSMS team Financial Summary Commentary Proxeon margins maintain in mid to hi-50’s, grow to 59% in ’15; offset by legacy portfolio ~30% CAGR is 16%, 25% on Proxeon Columns business grows at 15% With Proxeon we improve connectivity to Mass Spec driving that to $100M Data/Estimates based on publicly available data and internal assessments. Data presented are for planning purposes only and management does not endorse these sources as being accurate, comprehensive or complete as to product segment, size or share.
  3. Customers: Position the Accela and EASY nLC as the Best Front Ends for our LSMS customer base. Increase LC to MS connect rate to 75% by 2013 (currently 55%), 100% by 2015. Sales VPs to leverage the global position of Thermo and work with key account managers to sell complete LC and LCMS solutions from the top down. Create & demo complete application packs including consumables, software and documentation to leverage the breadth our offering. Leverage from Fisher. Replace Shimadzu in Fisher catalog Thermo and Fisher sales working together Markets: Biophama QC – Build targeted workflow solutions with Exactive & Deucalion. Become the standard. Clinical – Replace Agilent & Shimadzu with Accela in TLX Proteomic - Aggressively position dedicated solutions of Easy-nLC + traps, triples and hybrids. Incorporate consumables promoting a complete workflow solution. LSMS - Expand EasyLC portfolio adding UHPLC, µLC and SPE LC Routine/Pharma – Strong launch of Pertiva; develop Empower and Chromeleon drivers. Develop information rich detectors General - Maximize launch attention around Pertiva, Deucalion and EasyLC Ultra. Ease-of-use systems for dedicated markets - EASY franchise Waters: Considered leader in LC technology Premier provider of UHPLC systems Outstanding but expensive service and application support Extremely strong position in Pharma bolstered by Empower Agilent Reputation for reliable/ workhorse LC systems Strong sales and distribution worldwide CDS position in flux with multiple platforms (ChemStation, EZChrom, OpenLAB) Shimadzu Exceptional loyalty in Japan and strong presence in AP Price-based competition Dionex Solid and comprehensive LC portfolio New splitless RSLC-nano platform garnering attention Leveraging strong CDS position especially in Europe Eksigent/Danaher Integrating EksigentNano LC with ABI MS and kits from Invitrogen to target the proteomics market. Positioning UHPLC in nano environments Strong integrated micro LC offering Executive Summary Customers and Markets Competitive Landscape World Class Front End Solution; need to continue development and drive commercial teams Data/Estimates based on publicly available data and internal assessments. Data presented are for planning purposes only and management does not endorse these sources as being accurate, comprehensive or complete as to product segment, size or share.
  4. Key Strategic Questions How do we gain the confidence of the LSMS sales force and motivate them to battle for Easy-nLC and Accela front ends? What should our nano priorities be to maximize connectedness? Sources? UHPLC? Columns? What does it take to establish a foothold in Biopharmaceutical QC? (An area where TMO still has a chance to shape a market segment rather than following competitors) How do we use our new CDS platform to capture LC market share? Where are the holes in our current portfolio and how do we address them? What new technologies do you see coming and could potentially become disruptive to what you do today? Which products do we want/need to develop further, where do we need a completely new designs and/or technology? How do we better leverage Fisher Scientific and have our sales forces work together? How do we differentiate our offerings? (e.g., “fully supported” applications for complete workflow solutions)
  5. 2010 Strategic Agenda - Recommended Transition Best Front End to Most Complete Solution Data/Estimates based on publicly available data and internal assessments. Data presented are for planning purposes only and management does not endorse these sources as being accurate, comprehensive or complete as to product segment, size or share.
  6. Liquid Chromatography Overview Commentary 25% CAGR on Proxeon NPI = Accela, MSQ + Proxeon Use Proxeon for Share Gain of 1% or $13.6M Price erosion is minimal and primarily on legacy offerings NPI is net of cannibalization of Proxeon on existing line Revenue Profile LC Stand Alone Proxeon - $15M + Legacy AOP - $32M = $48M Commentary Assumes some softness in Europe market, not share loss, slow economy China strategy grows that from 0 to 6% of revenues Penetration in Japan Overall assumes global penetration with Proxeon product Geographic Segmentation 2009 2015
  7. Market Context: 2010 STRAP vs. 2009 STRAP Data/Estimates based on publicly available data and internal assessments. Data presented are for planning purposes only and management does not endorse these sources as being accurate, comprehensive or complete as to product segment, size or share.
  8. Market Segment Growth (‘07-’12 CAGR) vs. Margins (EBITA%) $45M Key No Presence Minor Presence Presence Solid Presence LC Proteomics$39M $85M Note: Circle sizes are correlated to market segment size and color-coded for market presence LC Clinical$41M $100M High $283M 12% BioPharma LC $65M $39M LC Front-End to TMO MS $33M Subset 6% $333M Market Segment Growth (‘07-’12 %) Total Pharma LC $291M $67.5Mc Food/ Bev $ 56.1M $185.5M Academia $ 175M $180M Chemicals MS 184M Chemicals $ 184M 0% Low 0% 15% 30%+ Low High Margin (EBITA%) Data/Estimates based on publicly available data and internal assessments. Data presented are for planning purposes only and management does not endorse these sources as being accurate, comprehensive or complete as to product segment, size or share.
  9. Peer Trends and Actions *Selected, not comprehensive, list of competitors Data/Estimates based on publicly available data and internal assessments. Data presented are for planning purposes only and management does not endorse these sources as being accurate, comprehensive or complete as to product segment, size or share.
  10. Peer Trends and Actions *Selected, not comprehensive, list of competitors Data/Estimates based on publicly available data and internal assessments. Data presented are for planning purposes only and management does not endorse these sources as being accurate, comprehensive or complete as to product segment, size or share.
  11. Assessment of Prior Year STRAP R G Y G Y Data/Estimates based on publicly available data and internal assessments. Data presented are for planning purposes only and management does not endorse these sources as being accurate, comprehensive or complete as to product segment, size or share.
  12. Assessment of Prior Year STRAP - Continued Y R
  13. Emerging Market Investments Commercial Mfg/ Sourcing Great Enthusiasm, Need to Visit, Train and Support Data/Estimates based on publicly available data and internal assessments. Data presented are for planning purposes only and management does not endorse these sources as being accurate, comprehensive or complete as to product segment, size or share.
  14. Business Unit Risks and Challenges Data/Estimates based on publicly available data and internal assessments. Data presented are for planning purposes only and management does not endorse these sources as being accurate, comprehensive or complete as to product segment, size or share.
  15. Backup
  16. Improve Connect Rate Integrate the Easy-nLC into MS bundles to create complete proteomic product offering. We now have an appropriate front end for every LSMS system sold. We must overcome the LSMS group’s historical aversion to Thermo LC. A multi-pronged approach is planned: Incentivize the LSMS sales team to sell Thermo LC. Quarterly campaigns with weekly updates. Goals will be 110% of expected connect rate without promotion. Payouts covered by additional revenues/margins. Continue to educate LSMS sales on the advantages and robustness of the Thermo LC systems. Distribute applications completed on Thermo LC/MS systems that demonstrate the advantages of using a complete TMO solution. Many perceived quality issues are linked to poor installations. Escalate field service training. LC GM to address each class. Automated System Test (IQ) ensures proper install. Gives customer a way to check system performance; entrée to validation services.
  17. Expand Current Product Offering Compressibility confirmation of solvent and seal wear from FFC metrics, create additional product differentiation for Accela pumps Thermo has a reputation as an innovator in MS. We need to develop a line of information rich detectors, MS based (Q, QQQ and Exactive) focused on chromatographic measurements. Controlled by the Pertiva CDS, these devices provide access to the LC market from the top. EASY franchise is all about workflows and ease-of use. We will expand the offering to UHPLC, µflow and SPE LC. The end goal will be to establish EASY analyzers; touch screen driven, workflow specific LCMS driven “answer machines”. Some examples: Combine EASY-nLC with basic trap - targeted to the biologists Work with EFS team to develop EASYtouch screen food safety system. Continue collaboration with Franklin team on multi-zone column oven, nanoflow-turboflow and application development.
  18. Optical Detector Development To be considered a credible stand-alone LC supplier we must have competitive optical detectors. UV/Vis and PDA/CCD will be our top priorities. We have initiated a project to revamp the existing PDA. The goals are to increase acquisition rate, improve sensitivity and stability. That project depends on outsourced engineering from Horiba and WPI. We will transfer management of that project to Reinach within 6 months. Recruit optical team (4 FTE) in Reinach. They will complete the PDA redesign, develop a UV/Vis for the UHPLC sector and then look to the next generation of multi-wavelength detectors. The team will be charged with innovation in the area of optical detectors.
  19. 2012 / 2013 CDS / MS / Informatics landscape Weak / gap Strong coverage Adequate coverage
  20. Solution selling – Connections Bundle the user training, service support, instrumentation, software, consumables, and App Paks into one complete solution. Differentiate on the totality of the solution rather than an individual specification. Create mechanism (lease?) to allow a customer with consumables budget to obtain an LC or LCMS with a consumables commitment. Overcome obstacle of individual scorecards to promote comprehensive “All Thermo Fisher” solutions. This is not a trivial, requires support of senior management. Use source and column expertise in Odense to develop end-to-end solutions for proteomic applications.
  21. Liquid Chromatography Revenue Bridge (stand alone LC) $M Revenue 16% CAGR Tremendous Upside – It’s all about Execution
  22. Connect Rate
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