Danaher (life sciences and diagnostics segments): Revenue +33.1%
2020 revenue: $17,979,000,000
Global sciences and diagnostic company Danaher contributed to the pandemic through various treatment, testing and vaccination efforts to combat the coronavirus.
Danaher’s life sciences and diagnostics segments saw the biggest jump in sales in 2020. It reported a 33.1% increase in revenue after $18 billion in sales in 2020 and $13.5 billion in 2019. In comparison, the company’s sales were down -13.2% between 2018 and 2019.
During the pandemic, Danaher purchased GE’s BioPharma business in a $20 billion deal. The company’s subsidiary Cepheid also won FDA emergency use authorization for its Xpert Xpress SARS-CoV-2/Flu/RSV diagnostic test.
The company also had a leadership change in the middle of the pandemic. Rainer Blair was appointed president and CEO in September after his predecessor Thomas Joyce announced his retirement.
“As we all know 2020 was a year that brought many unforeseen challenges, as a result of the COVID-19 pandemic. While our contributions in testing, treatment and vaccination has helped with the global effort to combat COVID-19, there is still much more progress to be made to overcome the pandemic. It’s also not lost on us that part of our financial performance in 2020 was driven by the work we’re doing to tackle a health crisis, which has had such a devastating impact on so many around the world,” Blair said in an earnings call transcribed by The Motley Fool.
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