Illumina, Inc. (ILMN) Morgan Stanley 21st Annual Global Healthcare Conference - (Transcript)

Illumina, Inc. (NASDAQ:ILMN) Morgan Stanley 21st Annual Global Healthcare Conference September 11, 2023 12:55 PM ET

Company Participants

Joydeep Goswami - Chief Financial Officer, Chief Strategy and Corporate Development Officer
Salli Schwartz - Vice President of Investor Relations

Conference Call Participants

Tejas Savant - Morgan Stanley

Tejas Savant

All Right. Hey, everyone. I'm Tejas Savant and I cover the life science tools and diagnostics sector here at Morgan Stanley. It's my pleasure to host Illumina today. And from the company, we have Joydeep Goswami, CFO; and Salli Schwartz, Head of Investor Relations. Welcome, guys.

Joydeep Goswami

Thank you.

Question-and-Answer Session

Q - Tejas Savant

For important disclosures, please see the Morgan Stanley research disclosure website at morganstanley.com/researchdisclosures. If you have any questions, please reach out to your sales rep. So maybe to kick things off Joydeep, big news last week with Jacob Thaysen's appointment as CEO. This pick seem to signal a fresh start for Illumina with a renewed focus in the core. His track record in margins was a big point of emphasis in the press release. Would you agree with that characterization?

Joydeep Goswami

Look, first of all, we're thrilled to have Jacob's announcement come through. I think previous conversations I've had with all of you, we had emphasized that we are prioritizing, bringing someone with experience in the industry on as quickly as possible, right, to get rid of that uncertainty. And so I'm glad that's behind us. Jacob obviously has an extensive experience in the industry, both on the diagnostic side, but also generally life sciences, tools and diagnostics. As you said, right, we have emphasized and you've reminded us that we need to get back to better margins and a stronger track record of profitable growth. I think Jacob definitely bring some of that with his background, especially on the stronger margins front at a scale company like Agilent right? So all of