General Electric Company GE recently collaborated with a leading clinical-stage biopharmaceutical firm, Cellular Biomedicine Group Inc. CBMG to co-develop certain high-quality industrial control processes in Chimeric Antigen Receptor T-cell (CAR-T) and stem cell manufacturing.
Cellular Biomedicine develops proprietary cell therapies for the treatment of cancer and degenerative diseases. The company conducts immuno-oncology and stem cell clinical trials in China, integrating products from its GMP laboratory. At the GMP facilities in China, the company comprises 12 independent cell production lines, which are designed and managed according to both China and U.S. GMP standards.
Per the collaboration, a joint laboratory within Cellular Biomedicine's new Shanghai Zhangjiang GMP facility will be set up to research and develop a functionally integrated and automated immunotherapy cell preparation system. This will help standardize the delivery of cell manufacturing to augment output, reduce cost burdens and inconsistency in cell production, which in turn is likely to increase the availability of engineered cells upon commercialization.
On combining Cellular Biomedicine's expertise of CAR-T and stem cell production and GE Healthcare's expertise in the design and development of innovative manufacturing technologies for the biopharmaceutical industry, customers will get access to best in class solutions.
The Cell therapy as an industry continues to refine and evolve in China as it tries to change the ways various diseases are treated. General Electric continues to invest in technologies and services that aim at making these therapies accessible to people. This collaboration will enable it to further enhance its foothold in the healthcare industry.
Continuous initiatives to augment product offerings and strengthen its foothold helped General Electric to outperform the Zacks categorized Diversified Operations industry over the last 30 days. It recorded an average gain of 0.5% against 0.2% decline of the industry.
General Electric currently carries a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the industry include 3M Company MMM and Bunzl plc BZLFY , both carrying a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here .
3M has a long-term earnings growth expectation of 9.7%. The company beat earnings estimates thrice in the trailing four quarters with an average positive surprise of 1.9%.
Bunzl has a long-term earnings growth expectation of 7.5% and is currently trading at a forward P/E of 20.4x.
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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report 3M Company (MMM): Free Stock Analysis Report General Electric Company (GE): Free Stock Analysis Report Bunzl PLC (BZLFY): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research