Repligen (RGEN – Snapshot Report) is a $900 million “biotech” company, without the drugs. They are to the Biopharma industry as Home Depot is to home builders, supplying major life sciences companies with the products and tools needed for the development and manufacturing of biological drugs.
Repligen is a leading manufacturer of Protein A, a critical reagent used to manufacture monoclonal antibody-based therapeutics. They also supply several “growth factor” products used to increase cell culture productivity in biomanufacturing.
In the burgeoning area of disposable biomanufacturing technologies, the company has developed and markets a series of OPUS (Open Platform User Specified) single-use chromatography columns used in the biologics purification process. This is the leading edge technology replacing glass columns in the biopharma world.
In addition to Repligen’s core bioprocessing business, they have a portfolio of clinical-stage partnering assets, including two central nervous system orphan drug candidates and a pancreatic imaging agent in Phase 3 development.
Supplier to the Stars
Repligen supplies R&D and commercial scale recombinant Protein A and affinity chromatography resins to world-class partners and customers.
As the original pioneer in recombinant Protein A, chromatography ligands manufactured by Repligen are used in the manufacture of over half the world’s approved monoclonal antibody therapeutics.
Last week, General Electric (GE – Analyst Report) reported 23% growth in bioprocessing compared to 13% in 2Q with Europe (+42%) and China (+162%) standing out. The bodes well for the bioprocessing industry where Repligen both competes with and supplies other giants like Thermo Fisher (TMO – Analyst Report).
But with its proprietary technologies and reputation for excellent quality, this small-cap also trades at a premium valuation because it is an assumed take-over target at any time.
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