Key Points Company and Industry Overview - **Company**: Illumina, Inc. (NASDAQ: ILMN) - **Industry**: Life Science Tools and Diagnostics - **Event**: 43rd Annual JPMorgan Healthcare Conference Call - **Date**: January 14, 2025 - **Time**: 12:00 PM ET - **Participants**: Jacob Thaysen (CEO), Ankur Dhingra (CFO), Rachel Vatnsdal (JPMorgan) - **Duration**: 40 minutes (20 minutes presentation, 20 minutes Q&A) - **Focus**: Business overview, financial results, strategic direction, and future outlook Core Points and Arguments - **Business Growth**: Illumina has been pioneering next-generation sequencing (NGS) technology for over 25 years, making it a foundational tool in genomic research and clinical applications worldwide. - **Global Strength**: Illumina is operating from a position of global strength, with significant market presence and influence. - **2024 Results**: Preliminary Q4 and full year 2024 results will be covered, along with outlook for 2025. - **New Strategy**: Illumina is shifting its focus from cost per gigabase to providing the highest quality insights at the lowest end-to-end cost. - **Excitement for Future**: The company is incredibly excited about the path ahead and the opportunities it presents. Other Important Points - **Forward-Looking Statements**: The presentation includes forward-looking statements and non-GAAP measures, which are detailed in Illumina's SEC filing. - **Presentation Structure**: The presentation will cover four main areas: business overview, financial results, strategic direction, and future outlook. - **Q&A Session**: Approximately 20 minutes of the session will be dedicated to answering questions from participants.

Key Points Industry Overview 1. **Industry Performance**: The 3D printing industry experienced a challenging year in 2024, with a continuation of the tumultuous conditions from the previous year. This period was marked by some of the worst six quarters the industry has faced [doc id='4']. 2. **Customer Spending**: There was a significant decrease in capital expenditure (CapEx) spending by customers for capacity expansion, which negatively impacted revenue across the industry, including 3D Systems [doc id='4']. 3D Systems Performance 1. **Revenue Impact**: The decrease in CapEx spending by customers led to a tough year for 3D Systems, with a significant impact on revenue. The company was not immune to the industry-wide challenges [doc id='4']. 2. **R&D Investment**: Despite the challenging conditions, 3D Systems maintained its investment in research and development (R&D) to stay current and advance its technology platforms. This was a strategic decision to ensure the company's long-term competitiveness [doc id='4']. 3. **Balance Sheet**: The company focused on maintaining a strong balance sheet to ensure it could continue investing in R&D during both up and down cycles [doc id='4']. Conclusion The 3D printing industry faced a challenging year in 2024, with a decrease in customer CapEx spending impacting revenue across the industry. 3D Systems, while not immune to these challenges, maintained its focus on R&D and balance sheet strength to navigate the turbulent conditions.

Key Points Company Overview 1. **Company Name and Stock Symbol**: Viatris Inc. (NASDAQ: VTRS) 2. **Event**: 43rd Annual J.P. Morgan Healthcare Conference 2025 3. **Date and Time**: January 14, 2025, 11:15 AM ET 4. **Participants**: - Scott Smith - CEO - Doretta Mistras - CFO - Philippe Martin - Chief R&D Officer - Corinne Le Goff - Chief Commercial Officer - Chris Schott - JPMorgan [1] Forward-Looking Statement 1. **No Guidance Provided**: The company will not be commenting on the full year 2024 or providing guidance for 2025 during the presentation. [2] Financial Highlights 1. **Revenue**: $15 billion in the last 12 months 2. **Adjusted EBITDA**: $4.8 billion in the last 12 months 3. **Free Cash Flow**: $2.4 billion in the last 12 months 4. **Financial Strength**: Viatris demonstrates tremendous financial strength [3] Business Segments 1. **Global Generics Business**: Strong global generics business 2. **Iconic Brands**: Home to iconic brands in the pharma world, including Lipitor, Lyrica, Celebrex, Norvasc, Viagra, etc. [3] Geographic Presence 1. **Global Operations**: Operates in 165 countries around the world [4]

Key Takeaways Company and Industry Overview 1. **Company**: Thermo Fisher Scientific Inc. (NYSE:TMO) 2. **Event**: 43rd Annual J.P. Morgan Healthcare Conference Call 3. **Date**: January 14, 2025 4. **Time**: 11:15 AM ET 5. **Participants**: Marc Casper - CEO, Sandy Pound - Chief Communications Officer, Raf Tejada - Vice President of Investor Relations, Rachel Vatnsdal - JPMorgan Performance and Future Outlook 6. **2024 Performance**: Strong differentiated performance delivered in 2024 [5] 7. **Upcoming Results**: Results to be reported in a couple of weeks [5] 8. **Industry Position**: Thermo Fisher is an industry leader with leading businesses enabling customer success [5] 9. **Market Share**: Gaining market share in the industry [5] 10. **End Markets**: Serving attractive end markets [5] 11. **Long-term Growth Drivers**: Sound and create a bright future for the industry and the company [5] Additional Notes 12. **Non-GAAP Financials**: Safe harbor statement and non-GAAP financials available on the company's website [4]

Key Points Company and Industry Overview 1. **GSK as a Global Biopharma Company**: GSK is a global biopharma company focused on the prevention and treatment of disease [3]. 2. **Demerger and Biopharma Focus**: GSK demerged its consumer business three years ago, creating a dedicated biopharma company with a clear focus on benefiting patients and shareholders [2]. Financial Performance 3. **2024 Sales and Profit Growth**: In the first nine months of 2024, GSK delivered 9% sales growth and 19% core operating profit growth [3]. 4. **Full-Year 2024 Guidance**: GSK confirmed its guidance for full-year 2024, expecting sales growth of 7% to 9% and core operating profit growth of 11% to 13% [5]. Product Approvals and Outlook 5. **Product Approvals and Growth Outlook**: GSK expects to secure five product approvals in the coming year and remains highly confident in delivering the growth outlooks set for 2026 and 2031 [5].

Key Points Company and Industry Information 1. **Company**: Teladoc Health, Inc. (NYSE:TDOC) 2. **Event**: JPMorgan 43rd Annual Healthcare Conference 3. **Date**: January 13, 2025 4. **Time**: 7:30 PM ET 5. **Participants**: - Chuck Divita - Chief Executive Officer - Mala Murthy - Chief Financial Officer - Lisa Gill - JPMorgan [1] Core Views and Arguments 1. **Global Virtual Care Organization**: Teladoc Health is a global virtual care organization well-positioned for future growth and innovation in the sector. 2. **Fourth Quarter Results**: The company will report its fourth quarter results at the end of February, providing an update on its business and outlook. 3. **CEO's Perspective**: Chuck Divita has been in his role for about 7 months and aims to share his perspectives on the business, priorities, and future growth. [3] Other Important Content 1. **CEO's Tenure**: Chuck Divita joined Teladoc Health in June 2024, approximately 7 months prior to the conference. 2. **CFO's Participation**: Mala Murthy, the Chief Financial Officer, will join the Q&A portion of the call. 3. **Event Significance**: This is Chuck Divita's first JPMorgan Healthcare Conference, highlighting the importance of the event for the company. [2]

Key Points Company Overview 1. **Company Name**: UiPath Inc. (NYSE:PATH) 2. **Annual Revenue**: Approximately $1.6 billion 3. **Industry**: Enterprise software and SaaS 4. **Founding Year**: 2007 5. **CEO and Founder**: Daniel Dines 6. **Core Platform**: RPA (Robotic Process Automation) platform 7. **Expansion**: Transitioned from RPA platform to a full-fledged automation platform over the last five years [4] Product and Services 1. **Automation Platform**: Offers a full lifecycle of automation, including process intelligence, automation of simple tasks, and complex tasks [6] Growth and Scaling 1. **Scaling**: Achieved significant scaling due to its strong, contemporary, and open architecture [4] Participants 1. **Company Participants**: Ashim Gupta - Chief Financial Officer 2. **Conference Call Participants**: Scott Berg - Needham

Merck & Co. Inc. - Key Takeaways from the 43rd Annual J.P. Morgan Healthcare Conference Company Overview - **Company**: Merck & Co. Inc. (NYSE:MRK) - **Event**: 43rd Annual J.P. Morgan Healthcare Conference - **Date**: January 13, 2025 - **Participants**: - Robert Davis - Chairman and CEO - Dean Li - Executive VP & President of Merck Research Laboratories - Chris Schott - JPMorgan Core Insights - **Strategic Execution**: The company is focused on executing its strategic priorities, emphasizing the advancement and augmentation of its pipeline [3] - **Scientific Innovation**: Merck prioritizes scientific innovation with a patient-centered approach, which is seen as a key driver for long-term sustainable value for shareholders and stakeholders [3] - **Forward-Looking Statements**: The CEO highlighted the importance of forward-looking statements and the associated risks and uncertainties, encouraging stakeholders to refer to the company's website for more information [2] Additional Important Points - **Leadership Transition**: The CEO noted that it has been over 3.5 years since he assumed the role, indicating stability in leadership during this period [4] - **Market Positioning**: The company is positioning itself to leverage its scientific advancements to enhance its market presence and stakeholder value [3] This summary encapsulates the key points discussed during the conference, focusing on Merck's strategic direction, commitment to innovation, and leadership stability.

Macy's, Inc. (NYSE:M) 2025 ICR Conference January 14, 2025 8:00 AM ET Company Participants Tony Spring - Chairman & CEO Adrian Mitchell - COO & CFO Conference Call Participants Matthew Boss - JPMorgan Chase Operator Okay, great. Thanks. It's Matt Boss, Retailing, Department Stores and Specialty Softlines at J.P. Morgan. Really happy to have this morning the team from Macy's. We have Chairman and CEO, Tony Spring; as well as CFO and COO, Adrian Mitchell. Format will be fireside chat. Question-and-Answer Sess ...

Key Points Company and Industry 1. **Company**: Organon & Co. (NYSE:OGN) 2. **Industry**: Healthcare, specifically pharmaceuticals and biotechnology 3. **Event**: JPMorgan Annual Healthcare Conference Call 4. **Date**: January 13, 2025 5. **Time**: 6:45 PM ET Core Views and Arguments 1. **Solid 2024 Performance**: CEO Kevin Ali highlights a strong 2024, particularly growth in Nexplanon, the company's core product, with a 15% increase in sales both domestically and internationally [5]. 2. **Nexplanon Growth**: Nexplanon's sales growth is attributed to its strong performance, with a significant increase in the third quarter of 2024 [5]. 3. **Emgality Deal**: Organon's partnership with Lilly on Emgality is expected to generate approximately $100 million in revenue for the year 2024, with potential for expansion into additional territories, including emerging markets [5]. Other Important Content 1. **Management Team**: The call features CEO Kevin Ali and CFO Matt Walsh from Organon & Co. [1]. 2. **Conference Participants**: The call is hosted by Chris Schott from JPMorgan [1]. 3. **Focus on 2025**: The conversation primarily focuses on Organon's business outlook and performance in 2024, with a forward-looking perspective towards 2025 [4].