Life-science tools · Bioprocessing · Diagnostics
Danaher Corporation
Danaher is a large US life-science and technology company organized into three segments: Biotechnology, Life Sciences and Diagnostics. It owns more than 15 operating companies including Cytiva (bioprocessing), Beckman Coulter, SCIEX, Leica, Cepheid and Radiometer. FY2025 revenue was about $24.6 billion, with Diagnostics the largest segment at $9.9 billion and Biotechnology at $7.3 billion. Recurring sales such as consumables and services make up roughly 82% of revenue, and China accounts for about 11% of total sales. Bioprocessing demand recovered in 2025, lifting Biotechnology segment revenue 8.0%. It grows by acquisition, buying plasmid DNA maker Aldevron (about $9.6 billion, a Moderna supplier) in 2021 and antibody company Abcam (about $5.6 billion) in 2023.
Business categories Life Science Tools & Genomics · Biopharma & Life Sciences · primary
DHR Updated Oct 9, 2026 4 AI consumers· 4 recurring
Per the valuechain.wiki graph, Danaher Corporation is directly linked to 2 companies (0 supply, 2 revenue relationships) and reaches 8 companies within two hops; the links are backed by 11 dated sources, 5 of them primary filings (as of 2026-10-09).
Financials & Segments
- Total revenue · approx. $24.6B (FY2025)
- Segments · Biotechnology · Life Sciences · Diagnostics
Revenue from
- 병원·임상검사실 (진단 소모품) High confidence· Revenue 9,941 USD_M · FY2025 · Diagnostics segment sales
The Diagnostics segment (Cepheid, Beckman Coulter, Radiometer) supplies clinical instruments, consumables and software to hospitals, physicians' offices, reference labs and critical-care settings. FY2025 Diagnostics revenue $9.94B, the largest of the three segments, 89% recurring.Confirms EN Danaher Investor Relations Published Jan 28, 2026: Danaher Reports Fourth Quarter and Full Year 2025 Results - 바이오의약품 제조사 (바이오프로세싱) High confidence· Revenue 7,293 USD_M · FY2025 · Biotechnology segment sales
The Cytiva/Pall bioprocessing business supplies chromatography resins, filters, cell-culture media and single-use hardware/consumables to pharma, biopharma and CDMOs. FY2025 Biotechnology segment revenue $7.29B (+8.0%), 88% recurring. Cytiva is specced into >90% of global mAb production volume.Confirms EN StockStory Published Oct 23, 2025: DHR Q3 2025 Deep Dive: Bioprocessing, Diagnostics, and Productivity Initiatives - 삼성바이오로직스 (싸이티바 바이오프로세싱) High confidence· Market share 90% · Cytiva coverage of global mAb production volume
CDMOs/biomanufacturers such as Samsung Biologics use Cytiva chromatography resins (MabSelect Protein A), purification filters and cell-culture media in commercial production. Cytiva leads the Korean resin/media market. Contract values not disclosed.Confirms KO The Korea Economic Daily Published Apr 10, 2025: Cytiva, a bioprocessing materials leader, launches two Protein A resins for antibody therapeutics - Moderna (Aldevron plasmid DNA) Medium confidence
Danaher's Aldevron (acquired in August 2021 for about $9.6 billion) supplies Moderna with plasmid DNA, the template for its COVID-19 mRNA vaccine and pipeline candidates, from its GMP site in Fargo, North Dakota. The two expanded the supply agreement in May 2021. Contract value is undisclosed, and with Moderna's vaccine sales far below their 2022 peak the current volume is unknown.Confirms KO BioSpectator Published Jun 18, 2021: Danaher to acquire pDNA and mRNA maker Aldevron for $9.6BConfirms EN Business Wire Published May 24, 2021: Moderna and Aldevron Announce Expanded Partnership for mRNA Vaccine and Therapeutic Pipeline
Pays to
- 전자·계측 부품 공급사 (장비 제조) Medium confidence
Danaher's manufacturing uses metallic-based components, electronic components and OEM products among other raw materials, sourced from a large number of suppliers worldwide with no single supplier material to the Company (10-K). Amounts not disclosed. - 화학·수지·플라스틱 원재료 공급사 (소모품·석유화학 기반) Medium confidence
Chemistries, plastics and other petroleum-based products feed consumables (resins, filters, reagents, media) and instrument manufacturing. Oil and gas prices indirectly affect freight, utilities and purchased-material costs (10-K). Amounts not disclosed.
Investments
- Abcam (acquired 2023) High confidence· Contract value $5.6B · 2023-12-06 인수 완료 · Cash purchase price for Abcam (about $5.6B per the 10-K; about $5.7B at announcement)
On December 6, 2023 Danaher acquired Abcam, a Cambridge, UK supplier of antibodies and protein consumables, for about $5.6 billion in cash ($24 per share) and placed it in the Life Sciences segment. Abcam had about £362 million of 2022 revenue, and the deal created roughly $3.9 billion of goodwill. It was funded with cash on hand.Confirms KO BioSpectator Published Aug 30, 2023: Danaher to acquire research antibody and reagent supplier Abcam for $5.7B
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Merck & Co. | lead2 | +1.8 | +49.4 | +1 | -6.3 | +9.8 | +44.9 |
| Gilead Sciences, Inc. | lead2 | +30 | +23.6 | -2 | +18.7 | +36.6 | +25.4 |
| Vertex Pharmaceuticals Incorporated | lead2 | -7.1 | +31.5 | +40.9 | -1 | +12.6 | +20.5 |
| Pfizer Inc. | lead2 | +66.7 | -10.4 | -41.3 | -2.2 | +0.6 | +20.2 |
| Bristol-Myers Squibb Company | lead2 | +2.9 | +19 | -26.1 | +15.8 | +0.1 | +14.5 |
| LigaChem Biosciences | lead2 | -26.2 | -18.1 | +37.1 | +151 | +60.5 | -63.9 |
| Moderna | lead1 | +143.1 | -29.3 | -44.6 | -58.2 | -29.1 | +393.6 |
| Samsung Biologics | lead1 | -6.8 | +8.6 | +5.8 | +28.7 | +5 | -30.1 |
| Danaher Corporation | node | +48.6 | -19 | -1.2 | -0.3 | +0.4 | -3.4 |
YTD as of 2026-10-09 · source: Yahoo Finance
Danaher Corporation operates across Life-Science Tools, S&P 500. It is -8.9% in 2026. The stock (-8.9%) and its demand side (avg -17.1%) are moving in step. Bioprocessing demand recovered in 2025, lifting Biotechnology segment revenue 8.0%.
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