QuidelOrtho Corporation (NASDAQ:QDEL) Q4 2022 Earnings Call Transcript

So I think we are in good shape. It’s been a while. So I am anxious to see how well we do. And I would say at our kickoff meeting in the United States, and we are hearing a lot of hi-ho and a lot of cross-selling. It’s been effective. Mostly, the other way at this point, because we are talking about VITROS chemistry instruments and immunoassay analyzers. But I am encouraged with the cooperation, the collegiality of the group. I like the attitude. I like the can-do attitude. The training here is going extremely well and so I think we are in good shape. It’s not just about making product, it’s also about commercializing.

Patrick Donnelly: Yeah. Understood. It has been a while, but looking forward to seeing it out in the market, Joe and Doug. Thank you, guys.

Doug Bryant: Thanks, Patrick.

Operator: Thank you. The next question comes from Conor McNamara of RBC. Please proceed.

Conor McNamara: Hey, guys. Thanks for taking the question. I appreciate it.

Doug Bryant: Hi.

Conor McNamara: Just getting back to regulatory business, if you…

Doug Bryant: Hi, Conor. Sorry, Conor. Please go ahead.

Conor McNamara: Can you guys hear me — can you guys hear me okay?

Doug Bryant: Absolutely. Yeah. Absolutely. Thank you, Conor.

Conor McNamara: Okay. So just getting back to the respiratory business, if you just think about kind of all of the moving pieces for this year, including the government contract on COVID. Going into next year and not getting into next year’s guidance, but just going forward, how should we think about the total respiratory business size wise including all of that? And then once you do have Savanna, how does that change the size of that business?

Doug Bryant: Yeah. Go ahead, Joe.

Joe Busky: Yeah. I can start here. And again, breaking it up into the pieces, Conor. I think we would again go back to the COVID $200 million to $400 million and the rapid flu in the $230 million to $270 million. Those are the two base numbers. And then the Savanna number, that number is a little bit of a TBD as you move into 2024, obviously, because it’s going to be based on the slope of the ramp or the launch, because some of that Savanna revenue is going to be respiratory, the RVP4 and RVP11. And then you have got that other piece I mentioned the RSP and the strep, we call it, $80 million to $100 million and so those are your pieces as you move forward.

Conor McNamara: Got it. That makes sense. And then just — Doug, you just mentioned some of the cross-selling excitement and without Savanna, what are some of the areas of success that you have seen some of the reps have cross-sell and what are they really excited about? Thanks.

Doug Bryant: Right now mainly in the U.S. at least, mainly the former Quidel people taking the Ortho people into accounts and they have — we have got a number of close is spending that’s encouraging. Ex-U.S., we are a little bit surprised by the enthusiasm for the Triage platform and the opportunity there with our cardiovascular assays. And I think it would be fair to say that we have been reasonably successful in a limited launch in Europe with Savanna, too.

Conor McNamara: Very well. Thanks for taking the question. I appreciate it and congrats on a nice quarter.

Doug Bryant: Yeah. Thanks, Conor.