Qiagen (QGEN) TD Cowen 46th Annual Health Care Conference summary

Strategic direction and leadership

• Focused on maintaining a top-three market position and increasing profitability, with EBIT margin nearing 30%.

• Board is finalizing the CEO search, targeting an experienced executive with diagnostics and public market expertise, aiming for an announcement and onboarding by end of Q2.

• Board composition has been strengthened with experienced leaders in healthcare, finance, and digital, supporting management and strategic direction.

M&A and strategic alternatives

• Actively reviewing strategic alternatives with advisors Goldman Sachs and Moelis, aiming to maximize shareholder value.

• Both CEO search and strategic review are running in parallel, with no impact on each other.

• Open to acquisitions, mergers, or combinations that create clear shareholder value and have feasible regulatory pathways.

• Over $1.1 billion returned to shareholders through buybacks and dividends.

Financial outlook and growth drivers

• 2025 saw 8-9% growth in core business pillars, with 2026 expected to have stronger growth in H2 due to new product launches and base effects.

• New instruments and panels in Sample Tech, QIAstat, and QIAcuity to drive H2 growth; Parse acquisition expected to contribute $40M in revenue.

• Guidance assumes normalization of lab CapEx in H2 and continued execution on sales, operating profit, and EPS.