What Drove Teslas Surprise Third Quarter Profit? – Forbes

Signage for Tesla Inc. is displayed outside one of the company's showrooms in Beijing, China, on ... [+] Friday, May 10, 2019. Beijing has vowed to retaliate after U.S. President Donald Trump followed through with his threat to raise tariffs Friday on $200 billion of Chinese imports to 25% from 10% percent. Photographer: Giulia Marchi/Bloomberg

Tesla (NASDAQ: TSLA) posted a surprise Q3 profit, reporting an adjusted EPS of $1.86. Wall Street was projecting that the company would post another quarterly loss. While the companys revenues were slightly lower on a sequential basis due to lower average selling prices and slower delivery growth, it likely benefited from more efficient manufacturing of the Model 3 sedan, with gross margins for the auto business rising by 390 bps sequentially to 22.8%. Separately, Tesla was also able to recognize revenue of about $30 million related to the Smart Summon feature that it released in September. This cash the company collected from this software feature was previously recorded as deferred revenues in its balance sheet. The company also sold regulatory credits worth $134 million over the quarter. Below, we take a look at some of the trends that drove the companys results and what could lie ahead for Tesla.

View our interactive dashboard on What Drove Teslas Surprise Q3 Profit?

Model 3 Deliveries Grow 3% Sequentially While Model S&X See Declines

Trefis

Model 3 deliveries saw a 3% sequential improvement, with deliveries standing at 79.6k units. Although the growth is not very encouraging, considering that the company now sells variants starting at ~$40k, the numbers should pick up over Q4 as Tesla indicated that it saw record net orders over Q3, with the backlog increasing.

Model S & X deliveries continued to remain lackluster at 17.4k units, marking a 1.5% sequential decline. While Tesla recently lowered the base price and introduction of an upgraded drivetrain and suspension setup on these vehicles, it is likely that they are being impacted by saturation in the premium end of the market and cannibalization by the Model 3.

Tesla Automotive Revenues Remain Almost Flat, Amid Slower Delivery Growth

Teslas Automotive revenues remained almost flat at $5.4 billion this quarter. While deliveries have grown marginally from 95.2k units in Q2 to 97k units in Q3, average revenue per vehicle declined, from $56.5k to $55.2k due to the higher mix of Model 3s and lower starting prices.

Teslas Total Revenues For Q3

Teslas total revenues stood at about $6.3 billion for the quarter. Other revenues, which include revenues from Teslas Service operations and renewable energy segment stood at about $950 million.

Teslas Margins See An Uptick, Helping It Return To Profitability

For more details on Teslas margins and whats driving its return to profitability, view our interactive dashboard analysis.

Whats behind Trefis? See How Its Powering New Collaboration and What-Ifs ForCFOs and Finance Teams|Product, R&D, and Marketing Teams More Trefis Data Like our charts? Exploreexample interactive dashboardsand create your own

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What Drove Teslas Surprise Third Quarter Profit? - Forbes

Did Tesla release an unfinished Smart Summon just to pull an accounting trick? – Digital Trends

On October 23, Tesla surprised investors by posting a $143 million profit for its third quarter. During the accompanying public call with investors, both CEO Elon Musk and Chief Financial Officer Zach Kirkhorn emphasized the release of its self-driving Smart Summon feature as a major contributing factor to that profit.

Tesla released Smart Summon on September 26 just before the end of its third financial quarter as part of a far-ranging software update named Software Version V10 or simply V10. The feature allows owners to beckon their car to drive to them autonomously from up to 200 feet away in a private parking lot or driveway.

However, since its release, this self-driving feature has collected an outsized amount of criticism for causing accidents and is now being looked into by federal transportation authorities for the dangers it may pose to the public at large. The controversy has some speculating that Tesla pushed it out early, before it was ready for the public, in order to show a larger profit on the companys balance sheet.

The question is, did they release it too early? Gene Munster, managing partner of Loup Ventures, told Digital Trends. If you take Apple or a traditional car company as a comparison, the release was too early. But Tesla prefers to release and improve by evolution rather than revolution.

The V10 update was pushed to Tesla vehicles on September 26, and the quarter ended for the company on September 30. In other words, the company released V10 on the last weekend possible for it to record the revenue in its upcoming report to investors.

During the Q3 earnings call with investors, company leaders called out $30 million of the $143 million profit recorded was due to the release of Smart Summon on September 26. Every Tesla buyer can pay $6,000 for the ability to add self-driving to their vehicles and many did: The company has collected roughly $500 million in total from customers for self-driving features.

But because no Tesla is actually fully autonomous yet, the company cannot, under general accounting rules and practices, count all of that money as revenue. Instead, it must hold those monies in a special accounting category called deferred revenue. As portions of the self-driving functionality are released, they can release a portion of the money and count it as revenue.

Ross Gerber, president and CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla investor, highlighted the timing: By releasing Smart Summon on the last weekend of the quarter, Musk was able to realize some of that deferred revenue, Gerber told Automotive News shortly after Teslas earnings report. Essentially, releasing the feature allowed them to unlock some of that Self Driving revenue and put it on their balance sheet.

Tesla has a team of certified accountants that have mapped out how much money they can recognize for each feature they complete as it relates to Auto Pilot, he told Digital Trends. This is why Elon is pushing so hard for Auto Pilot completion.

Upon the release of Smart Summon, reports began to flood Tesla forums, Reddit, and YouTube with examples of crashes, fender benders, and near misses linked to Smart Summon. Consumer Reports, Forbes, Wired, and others have all labeled the feature as not ready for public release and a possible safety hazard. I tried using it in a parking lot today and it immediately started to drive forward into the parking curb + wall is not an uncommon story. Comments like, I tested it out and it wanted to split 2 parked cars where I couldnt discern if it was going to hit anything or not, and This wasnt user error, its the software that isnt ready are common throughout Reddit and forum threads on Smart Summon.

The National Highway Traffic Safety Administration (NHTSA) is even looking into Smart Summon, and had this to say when reached for comment:

NHTSA is aware of reports related to Teslas Summon feature. We are in ongoing contact with the company and we continue to gather information. Safety is NHTSAs top priority and the agency will not hesitate to act if it finds evidence of a safety-related defect.

Other investors do not agree with the assertion that Smart Summon was released purely for financial gain, however. The timing has nothing to do with forcing deferred revenue recognition. said Galileo Russell, a closely watched investor and YouTuber. It was only $30M. Wouldnt have moved the needle either way. Even without recognizing it, Tesla would have crushed Wall Street estimates by a massive margin.

Tesla did not respond to our request for comment about Smart Summons release. During the Q3 investor call, the company reported that Smart Summon had already been used 1 million times. Tesla has already had to publish several updates to the Smart Summon feature since September 26, with more updates expected over the coming months.

Revenue recognition is an art, added Munster. Indeed, many accounting procedures have a logic all their own that can run counter to public expectations. What remains to be seen is if Teslas release of Smart Summon, and the subsequent accidents, will have a negative impact that outshines the revenue recorded by its release.

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Did Tesla release an unfinished Smart Summon just to pull an accounting trick? - Digital Trends

Teslas Q3 profit is being scrutinized by analysts and some dont like what they see – MarketWatch

A week after Tesla Inc. surprised investors by reporting a quarterly profit, some on Wall Street have started to question the quality of the beat.

The latest, from analysts at Cowen, highlighted that some of the positive aspects of Teslas knockout third-quarter may not be repeated and, worse, it is setting investors up for future disappointment as Tesla sales are expected to remain sluggish in the next few quarters.

The stock has performed well on the headline (third-quarter) profitability results, but we continue to see Tesla as significantly overvalued given the challenging prospects the company is facing with its current product lineup (S/X/3) and our skepticism of the narrative shift to future growth drivers, including the Model Y, the Tesla Semi freight truck, and its solar products, the Cowen analysts, led by Jeffrey Osborne, said in a note Wednesday.

Tesla TSLA, -0.51% filed more detailed quarterly statements with regulators on Tuesday, leading to the heightened scrutiny.

Read more: Teslas stock rally is costing short sellers $1.4 billion

The third-quarter beat was low quality, the Cowen analysts said. Some of the improvements in third-quarter auto gross margins were largely around warranty accounting and a renegotiated agreement with Panasonic Corp. 6752, +6.97%, which makes Teslas battery cells, rather than operational improvements, the analysts said.

The trajectory of the stock this week seems to bear some of that questioning: The shares were on pace for their third straight loss, down 5% in the past three sessions.

They were holding well above $300, a place they hadnt been since late February, catapulted to that mark by gains of nearly 18% on Thursday, a day after the quarterly results, and of more than 9% on Friday.

See also: Tesla bull praises Picasso-like quarter, but others question whether profit can be sustained

On Tuesday, analysts at Roth also cast doubt on the quality of Teslas third-quarter beat and zeroed in on the warranty adjustments and other one-time items as the drivers of the surprise quarterly profit.

The Roth analysts knocked down their ratings on Tesla shares to sell, from their equivalent of hold, and said they remained cautious on the stock as they expect delivery growth to slow down in 2020.

Related: GM stock soars as investors look past messy outlook

Tesla shares have lost more than 6% this year, contrasting with gains of 21% and 16% for the S&P 500 index SPX, +0.97% and the Dow Jones Industrial Average. DJIA, +1.11%

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Teslas Q3 profit is being scrutinized by analysts and some dont like what they see - MarketWatch

What Does The Tesla Model 3 Have In Common With A Cheap Toyota Etios? – InsideEVs

They both get no paint in some areas because nobody can see it. But is this ok?

You probably have never heard of the Toyota Etios. It is the cheapest Toyota car for sale in India and Brazil. With proper introductions made, we ask you: what does it have in common with the Tesla Model 3?

The pictures in this article will give you this answer but will raise many more. Especially this one: What role did paint have in reducing material costs Elon Musk referred to in the Q3 Earnings report call with analysts?

The image below came out precisely when this report first appeared. It is at the Investors Relation section of Teslas website, inside the Q32019 Update PDF. Pay attention to the front strut towers, still not covered by the frunk structure. Did you see it lacks paint?

In fact, what it misses is part of the paint job. Automotive paint itself comprises three steps: primer, base coat, and clearcoat. It comes after a series of treatments on the body panels, such as phosphate and E coat. These steps are the preparation for painting.

Despite what some still think, the Model 3s body is mostly made of steel, as we already showed in August 2017. That means it goes through the same preparation and paint stages a regular vehicle endures.

While the primer is responsible for the body-in-white protection, it usually is not visible in most cars apart from in some developing countries. That is where the Toyota Etios comes in. Check out the image below, taken by Marlos Ney Vidal, a good friend from the Brazilian website Autos Segredos. He kindly allowed us to use it in this article.

It shows the Etios engine bay, where the Tesla has its covered frunk. Did you notice how similar they are? The Etios front strut towers also lack the base coat, to be more precise. Ironically, that was something Toyota tried to hide in all ways possible in its press materials.

Check the images below. Toyota released them from the presentation until its refresh in Brazil. All shots try to hide the fact that the car does not have the base coat on the engine bay. Savvy photographers or a company request?

Apart from the combustion engine and the motors, the Model 3 differs essentially from the Etios. While the latter was meant to be affordable, the Tesla is seen as a luxury car sedan, facing the likes of BMW 3 Series and Mercedes-Benz C-Class.

The Model 3 hides this lack of base coat in other ways. Not only under the frunk but also beneath the fenders. This image from a recent video from the Rich Rebuilds YouTube channel demonstrates that.

Tesla released another image from the Gigafactory 3 that show more parts of the car lack base coat. See it below.

The image shows the base coat is missing in many inner body structures. That proves the cars pictured before did not have a flaw per se. They have been fully painted only where Tesla decided to do so. Like Toyota did with the original Etios.

Tesla die-hard supporters will ask: So what? They should remember paint was one of the major complaints Model 3 owners had and still have about the car. The real question should be "Now what?" in the sense that it is necessary to discover whether this sort of manufacturing decision affects the quality of the paint or not.

We have tried to interview BASF about it. The chemical company supplies paints to Tesla. BASF declined to make any comments.

We then contacted many other specialists from the US. None had replied until moments before we were to publish this article. That was when we received a message from Al Steier. He is the Director of the Benchmarking Innovation Center at Munro & Associates. And he had something we would never expect to have in such detail.

"We borrowed a coatings thickness instrument and took readings in various parts of the car including the strut tower for you. Please see attached. For your information, there is one slide where we captured the rear quarter panel. Looking at the picture, it is hard to tell as there was a lot of background reflections in it."

The PowerPoint presentation had seven slides. They deserved an entirely new gallery that you can see below. It reveals the exact points of the body that lack a base coat.

All the internal parts of the structure, the ones that receive any sort of finishing, come only with primer. Besides the strut towers, the floor pan is in the slideshow, but the pictures reveal the firewall and the internal parts of the columns also lack base coat. Primer thickness at the strut towers is 25.4m. The floor pan primer is31.8m thick. The video below measures the external body panels. The ones that receive the base coat.

As you can see, the paint presents different thickness depending on where it is measured. It goes from 69 m to 114 m and is very uneven all over the body. We have asked Steier if that is an acceptableprocedure in the automotive industry at least for developed countries. His answers will probably deserve an entirely new article.

The only person that sent us answers to generic questions on automotive paint was Marco Colosio, director and member of the Materials Commission at SAE Brasil, with more than 30 years of experience in the automotive industry. According to Colosio, it is unlikely to see cars that have no base coat in any part.

The primer is a physical barrier, but you will always have base coat over it. It is very unlikely that you will only have primer in any body panel.

As Colosio states, all of them should have that paint layer but some dont, as the Etios and the Model 3.

What, then, would be the explanation for the paint defect some Tesla owners are having with their cars? This video shows a Model 3 paint being tested.

We asked Colosio how thick good quality paint should be. Heres what he had to tell us:

That depends on many test factors, but it usually has 100 m. Thickness depends on what each carmaker sets as a resistance requirement for the product considering corrosion, UV exposure, etc.

We also asked him what else could interfere with good quality paint, such as the drying process.

Baking time should not alter that, but the layers application and the surface preparation are crucial for that.

Owners affected by paint problems on the Model 3 are still trying to get Tesla to fix their cars under warranty. The Toyota Etios had no complaints regarding paint except that this lack of base coat made it look cheap(er). Toyota has apparently started to paint the cars entirely after a facelift. We can't tell for sure because the company only produces this sort of standard engine bay picture when the body color helps hide an eventual lack of pigments.

The Model 3 and the Etios have one last thing in common: a central dashboard. The Etios received a digital one after the restyling.

The first analogic one pictured above presented a terrible parallax problem. At least Toyota has corrected it. We hope Tesla decides to do the same regarding the Model 3 paint even if it does not paint parts people normally do not see. Not only for new Model 3 units in Gigafactory 3, but also for the ones that already left Fremont long ago.

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What Does The Tesla Model 3 Have In Common With A Cheap Toyota Etios? - InsideEVs

Will FCA-PSA Buy Tesla Batteries And Drivetrain? – InsideEVs

The release of FCA's Q3 earnings came amid the news of the merger with PSA. Despite our concerns with electrification under Carlos Tavares' guidance, the company promises to achieve a grand scale electrification. That is what FCA's CEOMike Manley promised analysts while discussing results. Not only that: he suggested they could do that by buying Tesla's batteries and drivetrain.

According to Business Insider, Manley said FCA could buy a skateboard platform from Tesla. That would be possible because the customer will be agnostic to batteries and drivetrain in electric vehicles.

A brands character in electric cars would be determined by tuning the suspension and handling. That way, FCA could suit them to the brands it wanted to electrify right away.

FCA has a history of rapid car development, but the fastest one we have ever seen from the company took 18 months from concept to presentation. Manley said the pooling deal with Tesla would end in 2021. Would the company be able to buy and create an EV over Tesla hardware before that? Would the end of the pooling deal interfere with the production of a car that would be sold for at least six years?

There are more questions this strategy will raise in case it goes through.

If the pooling efforts will end in 2021, that is because FCA will already have an electric vehicle of its own by that time. Maserati promised to have a fully electric version of the Alfieri in 2020, built over an aluminum spaceframe.

Wouldnt that suit other FCA vehicles right away? Why buy anything from Tesla at this point? It would only make sense if FCA and Tesla were already working on this prior to Manley saying anything, which is not unlikely.

This FCA-Tesla cooperation on new products would make perfect sense for top-end products from Chrysler, Maserati, Alfa Romeo, Dodge, Jeep, and RAM. But would Tesla be able to deliver the quantities required by FCA? Will Gigafactory 3 in Shanghai help with that?

Mostly focused on A and B marked segments, Fiat would be covered by the eCMP platform coming from PSA. That will be the high-volume EV solution and the grand scale electrification Manley promises, which would leave eventual Tesla-powered products as niche vehicles, even if profitable ones. Will that make sense to resort to Tesla instead of developing an in-house solution? Is buying cheaper than developing in the long term?

Again, it is still very early to know what will happen. Manley even talks about the PSA merger as a possibility, not as something sure, undoubtedly because of the many challenges it will have to get approved by regulatory bodies.

What we know at this point is that, if all goes well, FCA and PSA may talk to Tesla as a battery and drivetrain supplier. We'll keep an eye on this to see how it will end.

Source: Business Insider

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Will FCA-PSA Buy Tesla Batteries And Drivetrain? - InsideEVs

Tesla: Are the Bears Reaching to Make a Negative Case? – Market Realist

Tesla (TSLA) bears are rearing their heads once again following the companys release of its form 10-Q on October 29. Earlier this month, the company released its third-quarter earnings results, beating market expectations. It also announced expedited project timelines, making bears and short sellers reel.

We discussed in Is the Tesla Short Burn Musk Predicted Finally Here? that on October 24, short sellers lost $1.4 billion. This short squeeze happened as TSLA surged about 29% in the two days following the release of its earnings results on October 23. On October 29, however, the stock fell about 3%, bringing its YTD (year-to-date) losses to 6.5%. Its peers Ford (F) and General Motors (GM) are still in the green with YTD gains of 11.7% and 12.5%, respectively.

In its 10-Q filing, Tesla provided additional insight as to its revenue and costs. Teslas overall revenue, for example, fell 8% YoY (year-over-year) in the third quarter. However, it reported a wide variation in revenue growth among different regions. Tesla achieved growth of 64% in its revenue in China. On the other hand, its US revenue tanked 39% YoY during the quarter. This statistic provided a lot of fodder for Tesla bears.

Roth Capital Partners downgraded Tesla stock from neutral to sell on October 29. This downgrade came after Tesla released its form 10-Q. On the day, MarketWatch reported that Roth Capital Partners saw Teslas third-quarter margins as unsustainable. Roth analysts led by Craig Irwin further stated, We expect decelerating deliveries growth in 2020 to drive multiple compression and are cautious at current levels.

While a lot of analysts have listed sustainable profitability as a cause for concern regarding Tesla, not many are worried about its deliveries. After back-to-back quarters of record deliveries, Tesla might be on its way toward another record quarter in the fourth quarter. Moreover, going forward, other drivers should lead to higher deliveries for the company.

We discussed in Tesla Model Y: Could It Be the Real ICE-Killer? that the Model Y is expected to hit a sweet spot that should drive Teslas volumes as well as its profitability. In fact, during Teslas third-quarter earnings call, Musk said, I think its quite likely to just my opinion, but I think it will outsell Model S, Model X and Model 3 combined.

Musk told Ron Baron a few months ago that everything should come together by June next year. This optimism is most likely due to the expected start of Model Y production. The company now expects production for the vehicle to start by summer 2020 compared to its previous expectation of fall. Its China Gigafactory has also progressed well so far and is expected to start production ahead of schedule.

Another bearish argument regarding Tesla is the way its treated its warranty expenses. In the second quarter, Tesla recognized $153 million, or 2.9%, of its revenue in warranty expenses, but this amount fell to 2.7% in the third quarter. Many market observers saw this accounting treatment as a way to jack up its profits. However, according to Barrons, Teslas warranty expenses compared to those of other automakers dont show any cause for concern. Barrons also reported that based on its research, the industry average, based on recent financial filings, is about 2.5%.

Analysts had expected a change not in the extent of Teslas revenue distribution but in the variation of its revenue distribution. This variation came as the company began shipping out its most popular Model 3 to international markets in 2019. Due to pent-up demand for the Model 3 in other regions, mainly China and Europe, sales soared. This might have led to the apparent revenue discrepancy between the US and the rest of the world.

Additionally, the decline in the tax credit at the beginning of the third quarter in the US was one of the drivers of Teslas higher revenue. This same driver will also be available for its US revenue in the fourth quarter. The US tax credit expires for Tesla cars at the beginning of 2020.

There are certainly concerns regarding Tesla going forward. These include the sustainability of its long-term profitability, its production timeliness, and the ramp-up of its Model Y and China Gigafactory. We believe, however, that the bears are reaching for a negative company narrative that might not exist.

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Tesla: Are the Bears Reaching to Make a Negative Case? - Market Realist

Tesla Roadster Gets The A-Team Treatment In Retro Face Car Renders – InsideEVs

The new Tesla Roadster has been rendered to take on the form of the Face car from the hit 80's show The A-Team. Check it out right here.

3 Photos

Yesterday, we posted on the rad Tesla Semi render seen in these images too. The Semi is envisioned as the Model A, a large electric van for The A-Team reboot (not likely to actually happen). But included with the Semi renders was a few images of this slick, retro-styled Tesla Roadster.

The Roadster is envisioned as Face's car by artist Martin Hajek on Behance. Face was one of the main characters in the 80's show The A-Team. Face always drove the fancy cars (Corvettes), while the rest of the A-Team mainly traveled in a full-size van.

What we find interesting in these renders of the Roadster as an A-Team car is the fact that the car itself lends well to a retro look, despite the fact that it's possibly one of the most advanced cars ever made.

The real-life Tesla Roadster is an insane electric machine. Here are some of its specs:

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Tesla Roadster Gets The A-Team Treatment In Retro Face Car Renders - InsideEVs

Stryker reports third quarter 2019 operating results – BioSpace

Kalamazoo, Michigan, Oct. 29, 2019 (GLOBE NEWSWIRE) -- Stryker (NYSE:SYK) reported operating results for the third quarter of 2019:

Third Quarter Highlights

"We delivered another strong quarter of results, with organic sales growth of 8.6% and adjusted EPS growth of 13%," said Kevin A. Lobo, Chairman and Chief Executive Officer. "We expect this momentum to continue, which positions us well to deliver above the high end of our initial guidance range for both organic sales and adjusted EPS."

Sales Analysis

Consolidated net sales of $3.6 billion increased 10.6% in the quarter and 11.5% in constant currency. Organic net sales increased 8.6% in the quarter including 9.3% from increased unit volume partially offset by 0.7% from lower prices.

Orthopaedics net sales of $1.3 billion increased 7.8% in the quarter and 8.8% in constant currency. Organic net sales increased 8.8% in the quarter including 10.1% from increased unit volume partially offset by 1.3% from lower prices.

MedSurg net sales of $1.6 billion increased 9.2% in the quarter and 10.0% in constant currency. Organic net sales increased 8.8% in the quarter including 9.2% from increased unit volume partially offset by 0.4% from lower prices.

Neurotechnology and Spine net sales of $0.7 billion increased 19.4% in the quarter and 20.2% in constant currency. Organic net sales increased 7.6% in the quarter including 7.8% from increased unit volume partially offset by 0.2% from lower prices.

Earnings Analysis

Reported net earnings of $466 million decreased 21.0% in the quarter. Reported net earnings per diluted share of $1.23 decreased 20.6% in the quarter. Reported gross profit margin and reported operating income margin were 65.0% and 17.5% in the quarter. Adjusted gross profit margin(1) and adjusted operating income margin(1) were 65.7% and 25.4%, an improvement of 50 basis points in the quarter. Adjusted net earnings(1) of $725 million increased 12.8% in the quarter. Adjusted net earnings per diluted share(1) of $1.91 increased 13.0% in the quarter.

2019 Outlook

Based on our performance to date and anticipated strength in the remainder of the year, we now expect 2019 organic net sales growth to be toward the higher end of our previously guided range of 7.5% to 8.0% and expect adjusted net earnings per diluted share(2) to be in the range of $8.20 to $8.25. For the fourth quarter we expect adjusted net earnings per diluted share(2) to be in the range of $2.43 to $2.48. If foreign currency exchange rates hold near current levels, we expect net sales in the fourth quarter and full year will be negatively impacted by approximately 1.0%, and net earnings per diluted share will be negatively impacted by approximately $0.02 in the fourth quarter and $0.15 in the full year.

(1) A reconciliation of the non-GAAP financial measures: adjusted gross profit margin, adjusted operating income and adjusted operating income margin, adjusted net earnings and adjusted net earnings per diluted share, to the most directly comparable GAAP measures: gross profit margin, operating income and operating income margin, net earnings and net earnings per diluted share, and other important information accompanies this press release.

(2) We are unable to present a quantitative reconciliation of our expected net earnings per diluted share to expected adjusted net earnings per diluted share as we are unable to predict with reasonable certainty and without unreasonable effort the impact and timing of restructuring-related and other charges, acquisition-related expenses and fair value adjustments to inventory and the outcome of certain regulatory, legal and tax matters. The financial impact of these items is uncertain and is dependent on various factors, including timing, and could be material to our Consolidated Statements of Earnings.

Conference Call on Tuesday, October29, 2019

As previously announced, Stryker will host a conference call on Tuesday, October29, 2019 at 4:30 p.m., Eastern Time, to discuss the company's operating results for the quarter ended September30, 2019 and provide an operational update.

To participate in the conference call dial (877) 702-4565 (domestic) or (647) 689-5532 (international) and be prepared to provide conference ID number 6039299 to the operator.

A simultaneous webcast of the call will be accessible via the company's website at http://www.stryker.com. The call will be archived on the Investor Relations page of this site.

A recording of the call will also be available from 8:00 p.m., Eastern Time, on Tuesday, October29, 2019, until 11:59 p.m., Eastern Time, on Tuesday, November 5, 2019. To hear this recording, you may dial (800) 585-8367 (domestic) or (416) 621-4642 (international) and enter conference ID number 6039299.

Caution Concerning Forward-Looking Statements

This press release contains information that includes or is based on forward-looking statements within the meaning of the federal securities laws that are subject to various risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such statements. Such factors include, but are not limited to: weakening of economic conditions that could adversely affect the level of demand for our products; pricing pressures generally, including cost-containment measures that could adversely affect the price of or demand for our products; changes in foreign exchange markets; legislative and regulatory actions; unanticipated issues arising in connection with clinical studies and otherwise that affect U.S. Food and Drug Administration approval of new products; potential supply disruptions; changes in reimbursement levels from third-party payors; a significant increase in product liability claims; the ultimate total cost with respect to recall-related matters; the impact of investigative and legal proceedings and compliance risks; resolution of tax audits; the impact of the federal legislation to reform the United States healthcare system; costs to comply with medical device regulations; changes in financial markets; changes in the competitive environment; our ability to integrate acquisitions; and our ability to realize anticipated cost savings. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

Stryker is one of the world's leading medical technology companies and,together with its customers, is driven to make healthcare better. The company offers innovative products and services inOrthopaedics, Medical and Surgical,and Neurotechnology and Spine that help improvepatient and hospital outcomes. More information is available atwww.stryker.com.

For investor inquiries please contact:

Katherine Owen, Vice President, Strategy & Investor Relations at 269-385-2600 or katherine.owen@stryker.com

For media inquiries please contact:

Yin Becker, Vice President, Communications, Public Affairs and Corporate Marketing at 269-385-2600 or yin.becker@stryker.com

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SUPPLEMENTAL INFORMATION - RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

We supplement the reporting of our financial information determined under accounting principles generally accepted in the United States (GAAP) with certain non-GAAP financial measures, including: percentage sales growth; percentage sales growth in constant currency; percentage organic sales growth; adjusted gross profit; adjusted selling, general and administrative expenses; adjusted research, development and engineering expenses; adjusted operating income; adjusted effective income tax rate; adjusted net earnings; and adjusted net earnings per diluted share (Diluted EPS). We believe that these non-GAAP financial measures provide meaningful information to assist investors and shareholders in understanding our financial results and assessing our prospects for future performance. Management believes percentage sales growth in constant currency and the other adjusted measures described above are important indicators of our operations because they exclude items that may not be indicative of or are unrelated to our core operating results and provide a baseline for analyzing trends in our underlying businesses. Management uses these non-GAAP financial measures for reviewing the operating results of reportable business segments and analyzing potential future business trends in connection with our budget process and bases certain management incentive compensation on these non-GAAP financial measures.

To measure percentage sales growth in constant currency, we remove the impact of changes in foreign currency exchange rates that affect the comparability and trend of sales. Percentage sales growth in constant currency is calculated by translating current and prior year results at the same foreign currency exchange rate. To measure percentage organic sales growth, we remove the impact of changes in foreign currency exchange rates and acquisitions, which affect the comparability and trend of sales. Percentage organic sales growth is calculated by translating current year results at prior year average foreign currency exchange rates excluding the impact of acquisitions. To measure earnings performance on a consistent and comparable basis, we exclude certain items that affect the comparability of operating results and the trend of earnings.

Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names. These adjusted financial measures should not be considered in isolation or as a substitute for reported sales growth, gross profit, selling, general and administrative expenses, research, development and engineering expenses, operating income, effective income tax rate, net earnings and net earnings per diluted share, the most directly comparable GAAP financial measures. These non-GAAP financial measures are an additional way of viewing aspects of our operations that, when viewed with our GAAP results and the reconciliations to corresponding GAAP financial measures below, provide a more complete understanding of our business. We strongly encourage investors and shareholders to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure.

The following reconciles the non-GAAP financial measures discussed above with the most directly comparable GAAP financial measures. The weighted-average diluted shares outstanding used in the calculation of non-GAAP earnings per share are the same as those used in the calculation of reported earnings per share for the respective period.

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Stryker reports third quarter 2019 operating results - BioSpace

Researchers use 7T MR to create highest resolution brain scan ever – DOTmed HealthCare Business News

Researchers at Massachusetts General Hospital have completed the highest resolution MR scan of an entire human brain to date, producing images 1,000 times more detailed than those of a standard clinical MR system.

The 100 micron resolution scan, acquired on a 7-Tesla system, is expected to provide greater insights into the structure of the brain and connections between different parts, while offering a greater understanding of the biology of neurological disorders such as traumatic brain injury and Alzheimers disease. The teams hope to eventually use the approach to form ultra-high resolution imaging techniques for use in living subjects.

We envision a future in which ex vivo MR and optical images at micron-scale resolution are precisely co-registered to histopathological data and in vivo MR data, Brian L. Edlow, first author of the paper, associate director of the MGH Center for Neurotechnology and Neurorecovery (CNTR), and director of the Laboratory for NeuroImaging of Coma and Consciousness (NICC), said in a statement. This fully integrated analysis pipeline will open up a new world of opportunities to investigate the pathophysiological basis of neurological disorders, and ultimately, will usher in a new era of pharmacologic, electrophysiologic, and neuromodulatory therapies.

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The group released the actual scan of the donated brain in June, along with underlying data that points to the potential for additional applications with this type of scan information. One of the co-authors, for instance, integrated the data into a software platform called Lead DBS to enable neurologists and neurosurgeons to improve the therapeutic outcome of deep brain stimulation electrode placement for disorders such as Parkinsons disease and obsessive compulsive disorder. Another group, the Fiber Tractrography Lab at University of Pittsburgh, integrated the data with 3-D tractography data to show axonal pathways for mapping connectivity within the human brain. The information has also been integrated with a neuroanatomy atlas at Unochapec University in Brazil.

The project has been in the works for ten years, and involved the help of neuroscientists, neurologists, MR physicists, engineers, computer scientists and anatomists. It also required the construction of 32 custom radiofrequency coils to reach the maximum resolution that was possible. All were positioned securely around the brain in a way that prevented them from interfering with one another.

This unique dataset has a broad range of investigational, educational and clinical applications that will advance understanding of human brain anatomy in health and disease, said Edlow.

The findings were published in the journal, Scientific Data.

MGH did not respond for comment.

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Synaptive Progresses into the Spinal Surgery Market – Healthcare Tech Outlook

The Modus Vs mechanization enables surgeons to function continuously without taking their hands off from the operative field to adjust the microscope. The process, along with other features like hands-free focal depth control and automatic lighting optimization, facilitates doctors with an uncompromised view during vital moments of every delicate procedure.

FREMONT, CA: To capture patient data and deliver it when and where it matters most for clinical decision making, Synaptive Medical, a leader in automation and robotics, announced a strategic commercial development into the spinal surgery market. As part of the progression into the sector, Synaptive revealed plans for marketing collaborations with Strykers Advanced Guidance Technologies. The partnership will see the utilization of the robotically managed digital microscope, Modus V.

Synaptive Medical is a Toronto-based medical technology and device company. The enterprise designs software and hardware technologies that cross conventional barriers in hospitals and enhance patient care in and beyond the operating room. Synaptives Modus V and integrated BrightMatter solutions comprise surgical planning, visualization, navigation, and an informatics platform. They give leading healthcare systems and clinicians the information they need to ensure the best probable outcomes for patients.

Stryker is one of the globally leading medical technology companies. The organization offers innovative services and products in orthopedics, surgical, spine, and neurotechnology that help improve hospital and patient outcomes.

Synaptives first product offering, the BrightMatter suite of products, focused on enabling surgeons to perform less invasive, patient-specific approaches in complicated cranial procedures like tumors or stroke. Originally launched as part of the cranial offering, Modus V was found by surgeons to offer similar benefits for minimally invasive spinal procedures.

A high-power visualization tool, Modus Vs robotic arm, runs automatically based on the positions of tracked surgical instruments. The mechanization enables surgeons to function continuously without taking their hands off from the operative field to adjust the microscope. The process, along with other features like hands-free focal depth control and automatic lighting optimization, facilitates doctors with an uncompromised view during vital moments of every delicate procedure.

Critical to the strategic push into the spine market is the enterprises development of an existing co-marketing agreement with Stryker. Initially beamed at Synaptives surgical planning technology, BrightMatter Plan, the extension will present surgeons with more extended access to an innovative application for visualization in Minimally Invasive Surgery (MIS) progresses in spinal procedures.

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Synaptive Progresses into the Spinal Surgery Market - Healthcare Tech Outlook

Besides Smartphones, Government Initiatives and the Retail Industry to Drive the Global Facial Recognition Market – GlobeNewswire

CHICAGO, Oct. 30, 2019 (GLOBE NEWSWIRE) -- According to study titled Facial Recognition Market by Component (Software, Tools, and Services), Application Area (Emotion Recognition, Attendance Tracking and Monitoring, Access Control, Law Enforcement), Vertical, and Region - Global Forecast to 2024 by MarketsandMarkets, the global facial recognition market size is expected to grow at a CAGR of 16.6% from an estimated value of USD 3.2 billion in 2019 to reach USD 7.0 billion by 2024. Increasing activity to combat terrorism & crime is one of the key driving factors for market growth. Moreover, the rapid adoption of technology in consumer electronics such as smartphones and home security systems to enhance consumer safety will boost the market growth.

The last two decades have witnessed an increase in terrorist activities around the world. Additionally, there has been a rise in criminal activities, including theft, cyberattacks, and human trafficking. To curb the unchecked spread of terrorism and criminal activities, there have been several initiatives undertaken by governments and affiliated bodies across the world. The Indian Government is exhibiting one such instance.

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In 2018, the Indian Government adopted facial recognition technology to identify missing children and reduce trafficking. Post its successful adoption in this initiative as well as in large-scale handling events and fighting crime in certain states, the Indian Government is planning on constructing the largest facial recognition system in the world, where the police force across the country will have access to a single, centralized database. Such initiatives are expected to open new growth avenues for the global facial recognition market in the near future.

Initiatives such as those exhibited by countries such as India are expected to play an important role in accelerating the growth of the Asia Pacific facial recognition market during the forecast period, making it the fastest-growing marketplace. Besides the large-scale government initiatives, the presence of a robust, established electronics manufacturing base in India, China, Japan, and South Korea is expected to spur the demand for facial recognition technology.

Companies such as NEC, Aware, Idemia, and Gemalto (A Thales Company) have been offering customized solutions as per the requirement of the customers, coupled with their growth strategies to achieve advance infrastructure consistently in the market. On the other hand, Daon, Animetrics, Stereovision Imaging, ID3 Technologies, Nviso, Neurotechnology, and Technobrain have been undertaking multiple partnerships and boosting their sales capabilities across regions to offer integrated solutions and services to a wide range of clients.

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Facial recognition can perform numerous functions such as emotion recognition, attendance tracking & monitoring, access control, and law enforcement, among others. Attendance tracking & monitoring segment is expected to witness the fastest growth due to its widespread implementation, especially in places where large groups of people attend an event such as colleges and churches. This functionality helps in reducing the time spent in manually tracking attendance. Checking in via apps on smartphones, laptops, and tablets, as well as tracking via live monitoring and GPS, are the latest trends in the global facial recognition market.

Besides functionality, facial recognition has evolved over the past few years, where the technology can be used not only in 2D but also in 3D and for facial analytics. 3D facial recognition was at the forefront of the market for quite a few years until companies started using this data to analyze patterns and identification. Facial analytics is helping companies redefine their approach to their clients by capturing different facial expressions, such as happiness, sadness, and anger, among others, to get to know them better.

The penetration of facial recognition was the highest in BFSI, government & defense, and retail & eCommerce. These three verticals together dominated the global facial recognition market share in 2018. The need to check a customers credibility, especially while giving loans, has resulted in banks such as Citi Bank, Barclays, and Banco National (Costa Rica) adopting the facial recognition technology. The retail & eCommerce sector holds tremendous growth potential for the global facial recognition market. The technology is increasingly being used to monitor buying patterns, routes they follow, and shops they visit. This data helps in catering to better customer service, especially for companies such as Amazon and local food apps.

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UGA scientist revolutionized biochemical research – Online Athens

EDITOR'S NOTE: This story is part of a series, called Georgia Groundbreakers, that celebrates innovative and visionary faculty, students, alumni and leaders throughout the history of the University of Georgiaand their profound, enduring impact on our state, our nation and the world.

Biochemist Marion Bradford spent most of his career developing new ways to use a common item found in kitchens and nurseries around the world cornstarch.

For decades, Bradford worked to convert cornstarch into a renewable energy source that could replace fossil fuels and produce everyday products ranging from food, feed and fiber to chemicals and industrial fuels.

He was part of a team recognized in 2003 by the U.S. Environmental Protection Agency and the American Chemical Society for creating an organic compound from corn sugar used in carpet fibers, cosmetics and liquid detergents that helped reduce the global economys reliance on petroleum-based materials. The organizations praised the teams contributions to the welfare and progress of humanity.

But it is his research on the seventh floor of the Boyd Graduate Studies Research Center at the University of Georgia in the 1970s that will be his legacy. A theory he pursued because he thought it would save scientists time in the laboratory turned part of his doctoral dissertation into one of the most cited scientific papers in history and invented an analytic process that revolutionized biochemical research.

I look back and say, yep, that is what I am known for, said Bradford, 72, who developed the Bradford protein assay, a process that is still being used in laboratories around the world to detect proteins in tissue samples. It made life a lot simpler.

One of the most cited research papers in history

According to an article published in Nature in 2014, if you put a printout of the first page of every paper listed on Thomson Reuters Web of Science that cited Bradfords research paper and stacked them up, the pile would almost reach the summit of Mount Kilimanjaro.

Five years ago, Bradfords paper had been cited by other scientists 157,683 times and was one of only three to achieve more than 100,000 citations. Today, it has jumped to 206,088 citations and counting, which makes Bradford one of only a few scientists in the world whose work has been recognized at this rate and used by others in the evolution of science to provide credibility for their research and scientific knowledge.

Looking back more than 40 years, Bradford, who is retired and living in Hendersonville, North Carolina, talks matter-of-factly about how the discovery which is done in a test tube in one simple step came about. His friend, a postdoc working next to him, was reading a published paper on a dye, Coomassie Brilliant Blue, and how it changes colors when it binds to a protein.

He asked me what I thought it would be good for, Bradford said. I said I thought it would be an instant protein assay.

At the time, an assay that could provide an instantaneous reading on proteins seemed out of reach. Proteins are important because they do most of the work in cells and can either help fight infection and keep people healthy or cause damage and serious illness.

The method being used at the time was a multi-step chemical reaction, Bradford said, and it took up to two hours to complete.

But, he thought, if Coomassie Brilliant Blue first developed for use in the textile industry could be used to stain wool sweaters instantly, it should be able to stain proteins in a solution as well.

I took the concept that was being used and changed it to a liquid form, came up with a new formulation that would allow it to stay in the solution, bind to the protein, and change colors instantaneously, he said.

The discovery led to a patent

Bradfords discovery using Coomassie Brilliant Blue G-250 was patented in 1976. The professor working with Bradford told him that he could be the sole author on the research paper since he was doing it outside of his fieldwork of reproductive biochemistry -- but the professor wanted to be included on any patent.

Christopher West, who chairs the department of biochemistry and molecular biology at UGAs Franklin College of Arts and Sciences, was a graduate student at the California Institute of Technology when Bradford developed his assay. Suzanne Barbour, dean of the graduate school at the University of North Carolina and a professor of biochemistry and biophysics, was in junior high school.

Barbour calls the Bradford assay the gold standard. West says it is a critical research tool that provides scientists with a quick reading on the concentration of proteins in any sample a necessary procedure for researchers, whether using it to detect illness, for drug development or to study the relationship between plant protein and human nutrition.

Anytime you do an experiment, you need to know how many proteins you have, West said. Its like looking at the fuel gauge before going on a trip or deciding how much flour to buy before baking a cake. There are things you need to do first before you move on to what comes next.

Both scientists suspect that Bradford didnt realize the impact his discovery would have when he published his paper in 1976.

For him it was probably a means to an end, said Barbour, a former dean of UGAs Graduate School. I dont think he realized that a gazillion scientists would be using this assay every day and that it would be something that revolutionized the way we do molecular biochemistry.

Research was always his passion

Bradford always wanted to be a researcher, but it didnt happen right away. After obtaining his Bachelor of Arts degree in chemistry from Shorter College in Rome, Georgia, in 1967, he taught middle school science and math for a few years. He also worked for the Georgia Department of Public Health in its clinical tuberculosis laboratory.

What Bradford realized during his time outside the lab was that pure scientific research was his passion. And he knew that to move forward, graduate school was a must.

The research I wanted to do could have been in almost anything, said Bradford. But I knew that for the work that I wanted to do, I first needed a graduate degree. It was like getting a permission slip.

So Bradford left public school teaching behind and spent his first wedding anniversary in 1972 standing in line at UGA signing up for graduate courses in foreign languages and biochemistry an area of study in which he had never taken a single course as an undergraduate.

After Bradford received his doctoral degree in 1975, he stayed at UGA as a research biochemist until 1981 when the postdoc who first asked him about his thoughts on the use of Coomassie Blue told him that A.E. Staley Manufacturing Co. in Decatur, Illinois, was looking to hire.

Bradford got the job and worked for A.E. Staley one of the largest processors of corn in the United States that merged with the British company Tate & Lyle in 1988 for the next 21 years. Afterward, he spent 17 years as a consultant with the Iowa Corn Promotion Board developing new uses and improving the sustainable production of corn.

He was part of the green, or sustainable, chemistry movement and patented new methods of converting carbohydrates from corn into materials that would replace the petrochemicals being used to develop drugs, preserve foods, create plastics, resins and fibers, and make pesticides and fertilizers.

His last hurrah, he said, was being part of that Tate & Lyle and DuPont team that discovered the renewably sourced plant-based textiles.

Still, it is the Bradford assay, he knows, that will be at the top of his scientific accomplishments long after he is gone.

Well, gee, Bradford said. Its nice to have made an impact.

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UGA scientist revolutionized biochemical research - Online Athens

Meitheal Pharmaceuticals Announces Completion of Majority Stake Investment from Nanjing King-Friend Biochemical Pharmaceutical Company – Business Wire

CHICAGO--(BUSINESS WIRE)--Meitheal Pharmaceuticals (Meitheal), a fully integrated generic injectables company based in Chicago, Illinois today announced the completion of a previously announced majority stake investment from Hong Kong King-Friend Industrial Company (HKF), a wholly-owned subsidiary of China-based manufacturer Nanjing King-Friend Biochemical Pharmaceutical Company (NKF). Following the completion of the $95 million transaction, Meitheal is now majority-owned by NKF and will serve as its exclusive commercialization arm in the US.

ABOUT MEITHEAL PHARMACEUTICALS

Since 2017, Meitheal Pharmaceuticals has bridged critical gaps in the US healthcare market by supplying high quality, affordable generic injectables. Our diversified product range from antibiotics, anticoagulants, and muscle relaxants to drugs used in chemotherapy represents practical solutions for countless patients around the country, as well as Meitheals commitment to their care. Based in Chicago, Illinois, our aim each day is producing quality and ensuring affordability, using the traditional Irish guiding principle we are named for Meitheal (Meehall): working together toward a common goal, for the greater good.

Learn more about who we are and what we do at http://www.meithealpharma.com.

ABOUT NANJING KING-FRIEND BIOPHARMACEUTICAL COMPANY (NKF)

Nanjing King-Friend Biochemical Pharmaceutical Co., Ltd. (NKF) is a China-based company principally engaged in the research and development, production and sales of Active Pharmaceutical Ingredients (API) and Finished Dosage Form (FDF). Established in 1986 as one of world leading manufacturers of heparin related APIs, NKF has grown into a fully integrated API and FDF manufacturer in multiple therapeutic areas including critical care and oncology. With three US FDA approved manufacturing sites in China and more than 500 employees, including more than 100 dedicated research and development experts, NKF strives to meet patient needs globally with market presence at US, China, EU and South America. The Company is publicly listed on Shanghai Stock Exchange with a market capitalization over $3B.

ABOUT HONG KONG KING-FRIEND INDUSTRIAL COMPANY

Hong Kong King-Friend Industrial Company is a wholly-owned subsidiary of NKF, founded in 2010.

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Biochemistry Analyzer Market Analysis and Global Outlook 2019 to 2025 – Market Research Feed

The GlobalBiochemistry Analyzer Marketresearch report offers an in-depth evaluation of each crucial aspect of the worldwide Biochemistry Analyzer industry that relates to market size, share, revenue, demand, sales volume, and development in the market. The report analyzes the Biochemistry Analyzer market over the values, historical pricing structure, and volume trends that make it easy to predict growth momentum and precisely estimate forthcoming opportunities in the Biochemistry Analyzer industry.

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Global Biochemistry Analyzer market overview in brief:

The biochemistry analyzers are very safe to use and require very less to determine and analyse chemical reactions and biological processes. Biochemistry analyzers basically operate on the principle of Lamberts and Beers law of photo-chemistry.

The factors that propel the growth of the Biochemistry Analyzers Industry Market include increasing demand for biochemistry analyzers, rising geriatric population, increasing R&D activities and growing population and urbanization. The increase in laboratory automation as one of the primary growth factors for this market. Laboratory automation results in greater improvement in productivity with safer working conditions, reduced operational cost, and reduction in labor force. Additionally, automation enables the effectiveness in the identification of samples, easy storage of data, less component consumption and sample volume, reduction, less occupied laboratory space and reduction in turnaround time. the Americas is expected to be the major revenue contributor to the market due to the growing population, as well as, the high prevalence of chronic and infectious diseases.

The Biochemistry Analyzer market has been reporting substantial growth rates with considerable CAGR for the last couple of decades. According to the report, the Biochemistry Analyzer market is expected to grow more vigorously during the forecast period and it can also influence the global economic structure with a higher revenue share.

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Global Biochemistry Analyzer market overview in brief:

The report also evaluates driving forces of Biochemistry Analyzer market and changing dynamics which have been considered as growth-boosting factor. Also, the Biochemistry Analyzer study sheds light on limitations and restraints that could probably become obstruction while the Biochemistry Analyzer industry is proceeding to achieve substantial revenue. The report also aids readers to gain in-depth knowledge of a Biochemistry Analyzer market environment that comprises terms such as entry barriers, and trading policies as well as regulatory, political, financial and social concerns that may also hamper Biochemistry Analyzer market growth momentum.

TheLeading Playersinvolved in global Biochemistry Analyzer market are:

URIT Medical Electronic, ELITechGroup, EKF Diagnostics, Spinreact, Mindray, Danaher, Roche Diagnostics

Based ontype, the Biochemistry Analyzer market is categorized into:

Semi-Automatic Biochemical Analyzers, Fully Automated Biochemistry Analyzers

According toapplications, Biochemistry Analyzer market splits into:

Academic Research Institutes, Biotechnology Companies, Contract Research Organizations, Diagnostic Centres, Hospitals, Pharmaceutical Companies, Others

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Our analysts are experts in covering all types of geographical markets from emerging to mature ones. You can expect all-inclusive research analysis of key regional and country-level markets such as India, China, Japan, the U.S., Europe, and North America. With accurate statistical patterns and regional classification, we provide you one of the most detailed and easily understandable regional analysis of the global Biochemistry Analyzer market.

Leading segments of the global Biochemistry Analyzer market with reliable forecasts:

Later the Biochemistry Analyzer report studies decisive segments of the market, including applications, Biochemistry Analyzer types, technologies, end-users, and regions. It explains the importance and performance of each Biochemistry Analyzer segment considering demand, revenue share, growth prospects and sales volume. Also, the analysis helps the clients accurately determine the Biochemistry Analyzer market size to be targeted and forecast evaluation guide them in selecting remunerative segments that will drive Biochemistry Analyzer business growth in the near future.

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Alternative Medicine and Clinical Laboratory Practice – American Association for Clinical Chemistry (AACC)

The Complementary and Alternative Medicine (CAM) marketincluding everything from yoga and meditation to acupuncture and naturopathyis projected to be worth $210.12 billion by 2026, according to Grand View Research.

CAM practitioners often order the same clinical laboratory tests as traditional physicians, and with blood drawn by laboratories like Quest, LabCorp, and some hospitals, said Jaquel Patterson, ND, president of the American Association of Naturopathic Physicians (AANP) and owner of Fairfield Family Health in Fairfield, Connecticut. She mentioned specialized rheumatology assays from reference labs as an example of how she uses clinical laboratory testing.

But some specialty tests that naturopathic practitioners order are not available from local clinical laboratories, which she hopes will change. Its hard to get in relationships with a lab to do courtesy draws, she said.

The challenge for naturopaths? Many clinical laboratory professionals are wary of playing a role in what many see as an unregulated, belief-based system of medicine.

Twenty-two states, plus Washington D.C., Puerto Rico, and the U.S. Virgin Islands regulate naturopathic practitioners. According to the AANP, naturopathic practitioners in these states must fulfill state-mandated continuing education requirements annually and have a specific scope of practice as defined by their states law.

A study published in Annals of Clinical Biochemistry looked at how laboratory tests are commonly used in CAM in the U.S., U.K., and Australia (Ann Clin Biochem 2019 May;56:310-25). Little to no data have been published about which tests are ordered most often, according to the lead author of this paper, Stuart Jones, MSc, FRCPath, consultant clinical biochemist in the department of clinical biochemistry at King Georges Hospital in London. But the most widely available that he has come across in his work include IgG antibodies for food intolerance, nutritional or metabolic profiles, and tests for heavy metal toxicity.

Often, laboratories specializing in CAM perform these tests. To meet the growing demand for CAM testing, a number of small reference laboratories around the world now offer specialty testing specifically marketed to naturopathic providers. Some operate entirely outside of any recognized accreditation program while others are accredited to the standard of established clinical laboratories, said Jones. Some CAM practitioners also offer some of their own tests directly to the public.

There are some CAM practitioners that will use established, validated tests in an appropriate way, but what we have found is that there seems to be a preference in this community for using unvalidated or even discredited tests, often to justify potentially unnecessary treatments and therapies, he said.

This isnt surprising, said Britt Marie Hermes, a PhD student at the University of Kiel in Germany and a former naturopathic doctor who writes about the industry at naturopathicdiaries.com. There is a large degree of variability with regard to how licensed naturopaths practice, she said. Some naturopaths may order and interpret lab tests according to established medical standards, but, based on having worked as a naturopath for several years and having practiced alongside many naturopaths, I can say from personal experience that naturopaths do not use lab tests like medical doctors.

Hermes said this is important for clinical laboratorians to know, and that they should be aware that naturopaths are providing patients with information that conflicts with information put out by medical professionals, she said. She gave as an example the issue that naturopaths will use different criteria to diagnose disease and make medical treatment recommendations.

In their study of CAM laboratories and testing, Jones and his co-authors also note that in the U.S., surveyors from the Centers for Medicare and Medicaid Services no longer routinely inspect CLIA-waived laboratories, which represent thousands of small testing sites.

The authors also point out that CLIA certification requires laboratories to meet standards in a variety of areas including staff qualifications, proficiency testing and test accuracy, reliability, and timeliness. It does not require demonstration of clinical validity and utility. Thus, CAM laboratories in the U.S. can be CLIA certified while offering tests that are neither clinically valid nor clinically useful.

Michael Astion, MD, PhD, medical director in the department of laboratories at Seattle Childrens Hospital and a clinical professor of laboratory medicine at the University of Washington, said he encounters CAM often, usually through parents who consult naturopaths or other CAM practitioners in addition to seeking medical treatment for their children. I think they have a role in the healthcare system, he said. There is some fraud and abuse there, but its not that common in laboratory services. He mostly sees CAMs using traditional laboratory tests, and not over-ordering.

Hes more concerned about tests that go beyond the scope of traditional medicine and how those tests are interpreted. Thats especially true with tests that are done at specialty laboratories. In general the problem with those labs is that tests tend to come back positive because the thresholds for positivity are very low, he said.

One example: hair analysis. Hair is not very good [as an analyte] for anything except maybe arsenic, and thats only good in the hands of some very excellent labs, Astion said. Its a very difficult specimen but CAM labs will do all kinds of toxicity testing on hair that come back with fairly alarming reports. Two other concerning tests are for allergies and food sensitivity. These are tests that youd never see a normal allergist or board-certified gastroenterologist order, he said.

His second concern is the overuse of screening tests and the ordering of very large panels. When you apply the wellness movement to laboratory medicine, you make everybody sick, he said, which is followed by treatments for diseases that arent there.

Requests for urinalysis for heavy metals is also a problem. Everyone is going to have some metals in their urine if they receive a heavy metal chelator, Astion said, but this doesnt mean that theyre sick. That doesnt mean you can eat a bag of fertilizer or drink a can of Raid, but it does mean you can probably use Raid in your house occasionally, and you can fertilize your lawn and, you can paint your house, he said.

Astion doesnt think that CAM practitioners are bad people or trying to make their patients sick, but that many are operating outside the scope of their knowledge. He likens it to the popularity of total body computed tomography scanning businesses in the early 2000s. If I image you from the top of your head to the bottom of your toes, youll have a lot of anomalies. That doesnt mean that theyre disease causingmost of them are not, he said. Thats why all those places closed. They were telling all these people they were sick, which led them to having unnecessary procedures. Thats exactly what happens when you get outside of the scope of your practice.

When patients bring in requests to have blood drawn for CAM testing, Astion said his institution typically refuses and gives parents an information sheet that says we do patient-centered testing. We do not do patient directed testing, he said. We dont judge them. We treat them just like if you came into my Italian restaurant and ordered Japanese food, he said. You can have Japanese food, but you cant have it here.

He will also ask CAM practitioners to stop requesting those kinds of blood draws from his hospital and give them information for a reference laboratory that might work with them. The message to CAM practitioners is, that order doesnt make sense to us. We practice conventional medicine, Astion said. Im not criticizing you, but I dont want to be party to it. Use another lab.

Jen A. Miller is a freelance journalist who lives in Audubon, New Jersey.+TWITTER:@byJenMiller

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Alternative Medicine and Clinical Laboratory Practice - American Association for Clinical Chemistry (AACC)

Fem tech startup Inne takes the wraps off a hormone tracker and $8.8M in funding – TechCrunch

Berlin-based fem tech startup Inne is coming out of stealth to announce an 8 million (~$8.8M) Series A and give the first glimpse of a hormone-tracking subscription product for fertility-tracking and natural contraception thats slated for launch in Q1 next year.

The Series A is led by led by Blossom Capital, with early Inne backer Monkfish Equity also participating, along with a number of angel investors including Taavet Hinrikus, co-founder of TransferWise; Tom Stafford, managing partner at DST; and Trivago co-founder Rolf Schromgens.

Womens health apps have been having a tech-fuelled moment in recent years, with the rise of a fem tech category. There are now all sorts of apps for tracking periods and the menstrual cycle, such as Clue and Flo.

Some also try to predict which days a women is fertile and which theyre not offering digital tools to help women track bodily signals if theyre following a natural family planning method of contraception, or indeed trying to conceive a baby.

Others such as Natural Cycles have gone further down that path, branding their approach digital contraception and claiming greater sophistication vs traditional natural family planning by applying learning algorithms to cycle data augmented with additional information (typically a daily body temperature measurement). Although there has also been some controversy around aggressive and even misleadingmarketing tactics targeting young women.

A multi-month investigation by the medical device regulator in Natural Cycles home market, instigated after a number of women fell pregnant while using its method, found rates of failure were in line with its small-print promises but concluded with the company agreeing to clarify the risk of the product failing.

At issue is that the notion of digital contraception may present as simple and effortless arriving in handy app form, often boosted by a flotilla of seductive social media lifestyle ads. Yet the reality for the user is the opposite of effortless. Because in fact they are personally taking on all of the risk.

For these products to work the user needs a high level of dedication to stick at it, be consistent and pay close attention to key details in order to achieve the promised rate of protection.

Natural contraception is also what Inne is touting, dangling another enticing promise of hormone-free contraception its website calls the product a tool of radical self-knowledge and claims it protect[s] from invasive contraceptive methods. Its twist is its not using temperature to track fertility; its focus is on hormone-tracking as a fertility measure.

Inne says its developed a saliva-based test to measure hormone levels, along with an in vitro diagnostic device (pictured above) that allows data to be extracted from the disposable tests at home and wirelessly logged in the companion app.

Founder Eirini Rapti describes the product as a mini lab saying its small and portable enough to fit in a pocket. Her team has been doing the R&D on it since 2017, preferring, she says, to focus on getting the biochemistry right rather than shouting about launching the startup. (It took in seed funding prior to this round but isnt disclosing how much.)

At this stage Inne has applied for and gained European certification as a medical device. Though its not yet been formally announced.

The first product, a natural contraception for adult women billed as best suited for women aged 28-40, i.e. at a steady relationship time-of-life will be launching in select European markets (starting in Scandinavia) next year, though initially as a closed beta style launch as they work on iterating the product based on user feedback.

It basically has three parts, Rapti says of the proposition. It has a small reader It has what we call a little mouth opening in the front. It always gives you a smile. Thats the hardware part of it, so it recognizes the intensity of your hormones. And then theres a disposable saliva test. You basically collect your saliva by putting it in your mouth for 30 seconds. And then you insert it in the reader and then you go about your day.

The reader is connected to your phone, either via BlueTooth or wifi, depending on where you are taking the test daily It takes the reading and it sends it over to your phone. In your phone you can do a couple of things. First of all you look at your hormonal data and you look at how those change throughout the menstrual cycle. So you can see how they grow, how they fall. What that means about your ovulation or your overall female health like we measure progesterone; that tells you a lot about your lining etc. And then you can also track your fluids We teach you how to track them, how to understand what they mean.

As well as a contraception use-case, the fertility tracking element naturally means it could also be used by women wanting to get pregnant.

This product is not a tracker. Were not looking to gather your data and then tell you next month what you should be feeling at all, she adds. Its more designed to track your hormones and tell you look this is the most basic change that happens in your body and because of those changes you will feel certain things. So do you feel them or not and if you dont, what does it mean? Or if you do what does it mean?

It builds your own hormonal baseline so you start measuring your hormones and we go okay so this is your baseline and now lets look at things that go out of your baseline. And what do they mean?

Of course the key question is how accurate is a saliva-based test for hormones as a method for predicting fertility? On this Rapti says Inne isnt ready to share data about the products efficacy but claims it will be publishing details of the various studies it conducted as part of the CE marking process in the next few weeks.

A couple more weeks and all the hardcore numbers will be out there, she says.

In terms of how it works in general the hormone measurement is a combination of a biochemical reaction and the read out of it, as she puts it with the test itself being pure chemistry but algorithms then being applied to interpret the hormonal reading, looping in other signals such as the users cycle length, age and the time of day of the test.

She claims the biochemical hormone test the product relies on as its baseline for predicting fertility is based on similar principles to standard pregnancy tests such as those that involve peeing on a stick to get a binary pregnant or not pregnant result. We are focused on specifically fertility hormones, she says.

Our device is a medical device. Its CE-certified in Europe and to do that you have to do all kinds of verification and performance evaluation studies. They will be published pretty soon. I cannot tell you too much in detail but to develop something like that we had to do verification studies, performance evaluation studies, so all of that is done.

While it developed and validated the approach in-house, Rapti notes that it also worked with a number of external diagnostic companies to optimize the test.

The science behind it is pretty straightforward, she adds. Your hormones behave in a specific way they go from a low to a high to a low again, and what youre looking for is building that trend What we are building is an individual curve per user. The starting and the ending point in terms of values can be different but it is the same across the cycle for one user.

When you enter a field like biochemistry as an outsider a lot of the academics will tell you about the incredible things you could do in the future. And there are plenty, she adds. But I think what has made a difference to us is we always had this manufacturability in mind. So if you ask me theres plenty of ways you can detect hormones that are spectacular but need about ten years of development let alone being able to manufacture it at scale. So it was important to me to find a technology that would allow us to do it effectively, repeatedly but also manufacture it at a low cost so not reinventing the whole wheel.

Rapti says Inne is controlling for variability in the testing process by controlling when users take the measurement (although thats clearly not directly within its control, even if it can send an in-app reminder); controlling how much saliva is extracted per test; and controlling how much of the sample is tested saying thats all done mechanically; you dont do that.

The beauty about hormones is they do not get influenced by lack of sleep, they do not get influenced by getting out of your bed and this is the reason why I wanted to opt to actually measure them, she adds, saying she came up with the idea for the product as a user of natural contraception searching for a better experience. (Rapti is not herself trained in medical or life sciences.)

When I started the company I was using the temperature method [of natural contraception] and I thought it cannot be that I have to take this measurement from my bed otherwise my measurements invalid, she adds.

However there are other types of usage restrictions Inne users will need to observe in order to avoid negatively affecting the hormonal measurements.

Firstly they must take the test in the same time window each time either in the morning or the evening but sticking to one of those choices for good.

They also need to stick to daily testing for at least a full menstrual cycle. Plus there are certain days in the month when testing will always be essential, per Rapti, even as she suggests a learning element might allow for the odd missed test day later on, i.e. once enough data has been inputted.

Users also have to avoid drinking and eating for 30 minutes before taking the test. She further specifies this half hour pre-test restriction includes not having oral sex because that also affects the measurements.

Theres a few indications around it, she concedes, adding: The product is super easy to use but it is not for women who want to not think ever about contraception or their bodies. I believe that for these women the IUD would be the perfect solution because they never have to think about it. This product is for women who consciously do not want to take hormones and dont want invasive devices either because theyve been in pain or theyre interested in being natural and not taking hormones.

At this stage Inne hasnt performed any comparative studies vs established contraception methods such as the pill. So unless or until it does users wont be able to assess the relative risk of falling pregnant while using it against more tried and tested contraception methods.

Rapti says the plan is to run more clinical studies in the coming year, helped by the new funding. But these will be more focused on what additional insights can be extracted from the test to feed the product proposition rather than on further efficacy (or any comparative) tests.

Theyve also started the process of applying for FDA certification to be able to enter the US market in future.

Beyond natural contraception and fertility tracking, Inne is thinking about wider applications for its approach to hormone tracking such as providing women with information about the menopause, based on longer term tracking of their hormone levels. Or to help manage conditions such as endometriosis, which is one of the areas where it wants to do further research.

The intent is to be the opposite of binary, she suggests, by providing adult women with a versatile tool to help them get closer to and understand changes in their bodies for a range of individual needs and purposes.

I want to shift the way people perceive our female bodies to be binary, she adds. Our bodies are not binary, they change around the month. So maybe this month you want to avoid getting pregnant and maybe next month you actually want to get pregnant. Its the same body that you need to understand to help you do that.

Commenting on the Series A in a supporting statement, Louise Samet, partner at Blossom Capital, said: Inne has a winning combination of scientific validity plus usability that can enable women to better understand their bodies at all stages in their lives. What really impressed us is the teams meticulous focus on design and easy-of-use together with the scientific validity and clear ambition to impact women all over the world.

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Fem tech startup Inne takes the wraps off a hormone tracker and $8.8M in funding - TechCrunch

Bicycle Therapeutics Announces Appointment of Veronica Jordan, Ph.D., to Board of Directors – Business Wire

CAMBRIDGE, England & BOSTON--(BUSINESS WIRE)--Bicycle Therapeutics plc (NASDAQ: BCYC), a biotechnology company pioneering a new and differentiated class of therapeutics based on its proprietary bicyclic peptide (Bicycle) technology, today announced the appointment of Veronica Jordan, Ph.D., to its Board of Directors, where she will serve as Chair of the Compensation Committee. Dr. Jordan was a corporate director for more than 15 years, with extensive experience in the biopharmaceutical industry, and has been an advisor to companies developing novel healthcare products.

Veronica is an accomplished international business leader who has expertise across diverse corporate functions, including clinical operations, business development, and corporate governance, said Kevin Lee, Ph.D., Chief Executive Officer of Bicycle. We believe that her valuable insight into these areas will be key to our success as we continue to advance our clinical pipeline and execute against our goals as a public company. I am pleased to welcome Veronica to Bicycles Board.

Since 2007, Dr. Jordan has served as an independent consultant to healthcare companies and contract research organizations and as Managing Director of Golden Seeds, an angel investor network. She was previously CEO and President of Medelle Corporation, a private medical device company, and held various executive roles at PAREXEL International during her 14 years on the companys management team. Dr. Jordan has been a member of the Board of Directors of Vermillion, Inc. since 2014 and currently serves as Chair of the Compensation Committee and a member of the Audit Committee. From 2006 to 2016, she was a Director of Albany Molecular Research, Inc. Dr. Jordan earned a B.A. in biochemistry from Cambridge University and a Ph.D. in biochemistry and cell biology from Oxford University.

About Bicycle Therapeutics

Bicycle Therapeutics (NASDAQ: BCYC) is a clinical-stage biopharmaceutical company developing a novel class of medicines, referred to as Bicycles, for diseases that are underserved by existing therapeutics. Bicycles are fully synthetic short peptides constrained with small molecule scaffolds to form two loops that stabilize their structural geometry. This constraint facilitates target binding with high affinity and selectivity, making Bicycles attractive candidates for drug development. Bicycles lead product candidate, BT1718, is a Bicycle Toxin Conjugate being investigated in an ongoing Phase I/IIa clinical trial in collaboration with the Centre for Drug Development of Cancer Research UK. Bicycle is headquartered in Cambridge, UK with many key functions and members of its leadership team located in Lexington, MA. For more information, visit bicycletherapeutics.com.

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Bicycle Therapeutics Announces Appointment of Veronica Jordan, Ph.D., to Board of Directors - Business Wire

Fulcrum Therapeutics to Host Key Opinion Leader Breakfast Symposium on Facioscapulohumeral Dystrophy (FSHD), on November 7, 2019 – GlobeNewswire

CAMBRIDGE,Mass., Oct. 31, 2019 (GLOBE NEWSWIRE) -- Fulcrum Therapeutics, Inc.(Nasdaq: FULC), a clinical-stage biopharmaceutical company focused on improving the lives of patients with genetically defined rare diseases, today announced that it will host a key opinion leader (KOL) breakfast symposium focused on understanding Facioscapulohumeral Dystrophy (FSHD) genetics, biology, and clinical implications, on Thursday, November 7, 2019 from 8:30 a.m. to 10:30 a.m. ET in New York, NY. Fulcrum is currently conducting Phase 2 trials investigating the safety, tolerability, and efficacy of losmapimod to treat the root cause of FSHD.

Guest speakers scheduled to present at the event include:

A live webcast of the presentation will be available through the investor relations section of the Company's website at https://ir.fulcrumtx.com/events-and-presentations. Following the live webcast, an archived replay will also be available.

About FSHDFSHD is characterized by progressive skeletal muscle loss that initially causes weakness in muscles in the face, shoulders, arms and trunk, and progresses to weakness throughout the lower body. Skeletal muscle weakness results in significant physical limitations, including an inability to smile and difficulty using arms for activities, with many patients ultimately becoming dependent upon the use of a wheelchair for daily mobility.

FSHD is caused by mis-expression of DUX4 in skeletal muscle, resulting in the presence of DUX4 proteins that are toxic to muscle tissue. Normally, DUX4-driven gene expression is limited to early embryonic development, after which time the DUX4 gene is silenced. In people with FSHD, the DUX4 gene is turned on as a result of a genetic mutation. The result is death of muscle and its replacement by fat, leading to skeletal muscle weakness and progressive disability. There are no approved therapies for FSHD, one of the most common forms of muscular dystrophy, with an estimated patient population of 16,000 to 38,000 in the United States alone.

About LosmapimodLosmapimod is a selective p38/ mitogen activated protein kinase (MAPK) inhibitor that was exclusively in-licensed by Fulcrum Therapeutics following Fulcrums discovery of the role of p38/ inhibitors in the reduction of DUX4 expression and an extensive review of known compounds. Utilizing its internal product engine, Fulcrum discovered that inhibition of p38/ reduced expression of the DUX4 gene in muscle cells derived from patients with FSHD. Although losmapimod has never previously been explored in muscular dystrophies, it has been evaluated in more than 3,500 subjects in clinical trials across multiple other indications, including in several Phase 2 trials and a Phase 3 trial. No safety signals were attributed to losmapimod in any of these trials. Fulcrum is currently conducting Phase 2 trials investigating the safety, tolerability, and efficacy of losmapimod to treat the root cause of FSHD.

About Fulcrum TherapeuticsFulcrum Therapeutics is a clinical-stage biopharmaceutical company focused on improving the lives of patients with genetically defined diseases in areas of high unmet medical need, with an initial focus on rare diseases. Fulcrums proprietary product engine identifies drug targets which can modulate gene expression to treat the known root cause of gene mis-expression. Please visit http://www.fulcrumtx.com.

Investor Contact:Christina TartagliaStern Investor Relations, Inc.212.362.1200christina@sternir.com

Media Contact: Lynn GranitoBerry & Company Public Relationslgranito@berrypr.com212-253-8881

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Fulcrum Therapeutics to Host Key Opinion Leader Breakfast Symposium on Facioscapulohumeral Dystrophy (FSHD), on November 7, 2019 - GlobeNewswire

ICMR VCRC Recruitment 2019 for Project Technical Officer and other Posts, Interview on November 09 – Jagran Josh

Indian Council of Medical Research Vector Control Research Centre (ICMR VCRC) has notified for Project Technical Officer and Project Technician Posts. The eligible candidates can appear in the walk-in-interview scheduled on 09 November 2019.

ICMR VCRC Recruitment 2019 for Project Technical Officer

ICMR VCRC Jobs Notification: Indian Council of Medical Research Vector Control Research Centre (ICMR VCRC) has invited applications for Project Technical Officer and Project Technician Posts. The eligible candidates can appear in the walk-in-interview scheduled on 09 November 2019.

Candidates with certain education qualification can apply for Indian Council of Medical Research VCRC Jobs Notification. Selection for the posts will be based on the performance in written test/interview.

Notification Details for Indian Council of Medical Research VCRC Jobs Notification:Advertisement No: 18/Project/2019, Date 23 October 2019

Important Dates for Indian Council of Medical Research VCRC Jobs Notification:Date of Walk-in-Interview: 09 November 2019

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Vacancy Details for Indian Council of Medical Research VCRC Jobs Notification:Project Technical Officer-01Project Technician-01

Eligibility Criteria for Indian Council of Medical Research VCRC Jobs Notification:Educational QualificationProject Technical Officer-Candidate should have Graduate in Life Sciences from a recognized University with five years' work experience from a recognized institution or University in the field of Molecular Biology/Biotechnology/Biochemistry/Molecular diagnostics of vector borne diseases or Master degree in Molecular Biology/Biotechnology/Biochemistry/Genomics. Project Technician-Candidates should have High School or equivalent with one year experience in laboratory technology/entomology from a Government recognized Institute or recognized boardCandidates should have Intermediate with science subjects shall be treated as equivalent to 2 years experience.For details of the educational qualification of the posts, you can check the notification link.Monthly Consolidated Salary for Indian Council of Medical Research VCRC Jobs Notification:Project Technical Officer-Rs. 32,000 Project Technician-Rs. 16,000

Age Limit for Indian Council of Medical Research VCRC Jobs Notification:Project Technical Officer-Not exceeding 30 YearsProject Technician-Not exceeding 25 Years

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How to Apply for Indian Council of Medical Research VCRC Jobs Notification:The eligible candidates can download the application form from the website http://www.vcrc.res.in and attend the written test/interview with all the original documents, Aadhar card along with one set of xerox of the same duly self-attested and a recent passport size photograph for attending the written test/interview.

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ICMR VCRC Recruitment 2019 for Project Technical Officer and other Posts, Interview on November 09 - Jagran Josh

Automatic Veterinary Biochemistry Analyzer Market Analysis by Key Players, Types, Applications and Growth Opportunities to 2025 – TheFinanceTime

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Automatic Veterinary Biochemistry Analyzer Market Analysis by Key Players, Types, Applications and Growth Opportunities to 2025 - TheFinanceTime