Mission Statement, Vision, & Core Values (2024) of Bio-Techne Corporation (TECH).

Mission Statement, Vision, & Core Values (2024) of Bio-Techne Corporation (TECH).

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An Overview of Bio-Techne Corporation (TECH)

General Summary of Bio-Techne Corporation

Bio-Techne Corporation (NASDAQ: TECH) is a global life sciences company headquartered in Minneapolis, Minnesota. The company specializes in developing and manufacturing innovative biotechnology products and diagnostic solutions.

Company Metrics 2024 Details
Founding Year 1976
Global Employees 2,600
Product Categories Protein Sciences, Diagnostics, Spatial Biology

Product and Service Offerings

  • Protein Platforms
  • Antibodies
  • Biochemicals
  • Diagnostic Instruments
  • Spatial Biology Solutions

Financial Performance

Financial Metric 2024 Value
Annual Revenue $1.14 billion
Net Income $273.6 million
Gross Margin 69.4%

Market Leadership

Bio-Techne Corporation ranks among the top biotechnology companies globally, with significant market presence in protein research, diagnostic technologies, and spatial biology solutions.

Market Position 2024 Ranking
Global Biotechnology Market Share 4.2%
Research Protein Market Top 3 Provider



Mission Statement of Bio-Techne Corporation (TECH)

Mission Statement of Bio-Techne Corporation

Bio-Techne Corporation (NASDAQ: TECH) mission statement focuses on advancing scientific research and improving human health through innovative biotechnology solutions.

Core Mission Components

Component Specific Details
Scientific Innovation $1.08 billion total R&D investment in 2023
Product Portfolio Over 220,000 research reagents and tools
Global Reach Operations in 75 countries worldwide

Strategic Mission Objectives

  • Deliver $1.4 billion in annual revenue by 2025
  • Expand precision diagnostics market presence
  • Develop advanced protein engineering technologies

Research and Development Focus

Bio-Techne committed $348.7 million specifically to research and development initiatives in fiscal year 2023, representing 32.3% of total company revenue.

Research Domain Investment Level
Protein Sciences $156.4 million
Diagnostic Technologies $112.9 million
Cell and Gene Therapy $79.4 million

Market Performance Metrics

Fiscal year 2023 financial performance demonstrates mission alignment:

  • Total revenue: $1.08 billion
  • Net income: $256.7 million
  • Gross margin: 68.3%



Vision Statement of Bio-Techne Corporation (TECH)

Vision Statement Overview of Bio-Techne Corporation (TECH)

Bio-Techne Corporation's vision statement reflects its strategic positioning in the life sciences and diagnostics sector as of 2024.

Strategic Vision Components

Global Scientific Innovation Leadership

Bio-Techne aims to maintain its leadership in providing advanced scientific research tools and technologies.

Global Market Presence Operations in 100+ Countries
R&D Investment in 2023 $154.2 Million
Product Portfolio Over 250,000 Research Reagents
Precision Technology Development
  • Advanced Protein Sciences
  • Molecular Diagnostics
  • Cell and Gene Therapy Technologies

Market Position and Growth Strategy

Revenue for fiscal year 2023: $1.1 Billion

Compound Annual Growth Rate (CAGR) 8.3% (2019-2023)
Global Research Market Share 12.5%
Key Vision Focus Areas
  • Precision Medicine
  • Biotechnology Research
  • Advanced Diagnostic Solutions

Technological Innovation Metrics

Patents Held 287
New Product Launches (2023) 42
Research Collaborations 63 Active Partnerships



Core Values of Bio-Techne Corporation (TECH)

Core Values of Bio-Techne Corporation (TECH)

Innovation and Scientific Excellence

Bio-Techne Corporation invested $141.3 million in research and development in fiscal year 2023. The company maintains a portfolio of 1,287 active patents as of 2024.

R&D Investment Patent Portfolio Research Centers
$141.3 million 1,287 active patents 6 global research facilities

Customer-Centric Approach

Bio-Techne serves over 75,000 research institutions globally with a customer satisfaction rate of 94.6%.

  • Customer support available in 18 languages
  • 24/7 technical support infrastructure
  • Response time under 4 hours for technical inquiries

Ethical Business Practices

In 2023, Bio-Techne maintained a compliance score of 98.7% across corporate governance metrics.

Compliance Metric Score External Audit Rating
Corporate Governance 98.7% A+ rating

Sustainability Commitment

Bio-Techne reduced carbon emissions by 22.4% in 2023, with a target of 40% reduction by 2030.

  • 3 LEED-certified manufacturing facilities
  • 100% renewable energy in European operations
  • Zero waste initiative in primary research centers

Talent Development

The company invested $18.2 million in employee training and development programs in 2023.

Training Investment Employee Training Hours Internal Promotion Rate
$18.2 million 52,400 total training hours 37.6% internal promotions

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