Millipore gets Q3 boost from H1N1 flu vaccine

November 5, 2009 by MassDevice staff

Millipore Corp. brought home the bacon during the third quarter, as production of Swine Flu vaccine ramped up in anticipation of the influenza season.

The Billerica, Mass.-based lab instruments maker's bioprocess division, which helps pharmaceutical and biotechnology firms develop and optimize manufacturing processes, posted a 6 percent increase in sales during the three months ended Oct. 3. The division brought in $234 million in sales during the quarter, up from $221 million during the same period last year. Company officials credited the bump to "strong demand for products used to manufacture the H1N1 flu vaccine."

The company's bioscience division didn't fare as well, but still managed a 2 percent sales uptick during the quarter. The division posted $178 million in revenues, compared to $174 million for the same period last year. But the unit was weighed down by a slowdown in the company's large pharmaceutical accounts, particularly for drug discovery services and laboratory instrumentation. The division is down 6 percent for the first nine months of 2009.

Overall, Millipore posted $412 million in sales, compared to $395 million for the same period last year, good enough to boost its bottom line about 4 percent. The company reported net income of $40 million, compared to $38 million for the same period last year. However, it should be noted that the comparable quarter for 2008 ended on Sept. 27, a difference of six days.

For the first nine months of 2009 the company posted net income of $133 million on $1.22 billion in sales, compared to $106 million on $1.20 billion, a 25 percent jump in net income from last year.

CEO Martin Madaus said the company is also upping its R&D spend in areas such as disposable manufacturing, virus filtration and multiplex immunoassays. The company spent about $4 million more in R&D expenses during the quarter than it did a year ago.

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