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The themes Danaher is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.
The theme it is part of
Highest-graded in Diagnostics and Research
Graded A or B and worth $2B or more: A first, then the largest.
TMOThermo Fisher Scientific Inc.$259.2BA+
IDXXIdexx Laboratories Inc.$55BA+
IQVIQVIA Holdings Inc.$44.7BA
ILMNIllumina, Inc.$31.7BA+
LHLabcorp Holdings Inc.$30.2BA
Grade rose recently in Healthcare
Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.
MCKMckesson CorporationNov 4, 2026BAGraded B, now A
CVSCVS Health CorpNov 4, 2026BAGraded B, now A
EWEdwards Lifesciences CorporationNov 4, 2026BAGraded B, now A
BIIBBiogen Inc.Oct 28, 2026BAGraded B, now A
GEHCGE Healthcare Technologies Inc.Oct 28, 2026CAGraded C, now A
How it makes money
- Biotechnology: equipment, supplies, and services for biological drug research and manufacturing30%
- Life Sciences: research instruments, supplies, and filtration products30%
- Diagnostics: instruments, tests, and patient-monitoring products40%
Shares of revenue are estimates for six months ended June 26, 2026, not figures from a filing.
Competes with
What it sells6
Cytiva bioprocessing products
Filters, resins, liquids, single-use equipment, and services that drugmakers use to develop and manufacture biological medicines.
Pall filtration products
Filters and related equipment that remove contaminants from liquids and gases used in medicine, research, food production, electronics manufacturing, and other industries.
Biacore 8S
A Cytiva instrument that lets researchers test how potential drug molecules interact with their targets.
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SCIEX mass spectrometers
Instruments that identify and measure molecules in samples, used in drug research, clinical testing, and food and environmental testing.
Beckman Coulter clinical testing systems
Laboratory instruments, tests, and software that analyze blood and other body samples to help diagnose and monitor health conditions.
Cepheid GeneXpert tests
Systems and tests that detect genetic material from organisms or diseases, including tests used in hospitals and other care settings.
Who buys it5
- Pharmaceutical and biotechnology companies buy research tools, drug-manufacturing equipment, and replacement supplies, often through Danaher's direct sales teams or distributors.
- Contract manufacturers and contract development organizations buy equipment, supplies, and services to make medicines for other companies.
- Universities, research institutes, and academic laboratories buy instruments and consumables for biological research.
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- Hospitals, doctors' offices, and reference laboratories buy diagnostic instruments, tests, and patient-monitoring products.
- Industrial customers, including semiconductor, food, energy, and aerospace businesses, buy filtration equipment and replacement filters.
What it stands on, and what could break it
What the business leans on
- 1Some specially specified or regulated components can be obtained from only one supplier or a limited number of suppliers, even though Danaher says no single supplier is material to the company as a whole.
- 2Danaher sells mainly through its own sales teams and also uses independent distributors; changes in distributor performance or customer purchasing patterns can affect sales.
- 3Sales depend in part on regulatory clearances and approvals, and on healthcare providers' ability to obtain payment or reimbursement for products and services.
What could go wrong
- 1Competitors and new technologies can take demand or lead to price reductions in Danaher's many product markets.
- 2Regulatory requirements for medical devices and diagnostic tests, along with changes in healthcare reimbursement and cost controls, can delay sales or affect what customers buy and pay.
- 3A few large commercial drug manufacturers delayed planned shipments of chromatography resins in the second quarter of 2026, illustrating how customer production schedules and facility readiness can shift biotechnology sales.
About Danaher Corp.
Danaher owns more than 15 operating companies grouped into biotechnology, life sciences, and diagnostics. Their products help researchers study cells and other biological material, help drugmakers make biological medicines, and help healthcare workers test samples and monitor patients. Many products are used up or replaced regularly, so customers buy supplies as well as instruments and services.
- Head office
- Washington, D.C., United States
- Founded
- 1984
- Employees
- Approximately 60,000 (as of December 31, 2025, high)
- Listed on
- NYSE
- Financial year ends
- December 31
Built from Danaher Corp.’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.