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DANAHER CORPORATION

(DHR)
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DANAHER CORP /DE/ : Other Events, Financial Statements and Exhibits (form 8-K)

07/26/2021 | 08:38am EDT

ITEM 8.01 OTHER EVENTS



On July 26, 2021, Danaher Corporation's ("Danaher" or "the Company") indirect
subsidiary, Beckman Coulter, Inc., entered into a series of related agreements
with Quidel Corporation and a subsidiary thereof ("Quidel") pursuant to which,
among other matters, Quidel's business of selling and distributing the BNP test
for the Beckman Coulter Access family of immunoassay systems will be
transitioned to Beckman Coulter, modifying and partially terminating the
parties' prior commercial arrangement. The terms of the agreements are further
described in the attached press release and below.

As part of the modification and termination of the prior arrangement, Beckman
Coulter has acquired the exclusive right to manufacture, distribute, and sell
the BNP assay currently sold as TRIAGE® BNP by Quidel, which will be re-branded
as Access BNP. The agreements also resolve litigation that Beckman Coulter
initiated against Quidel related to the prior commercial arrangement. As
consideration under the agreements, the Company will pay Quidel a per-test fee
for each BNP assay test sold from the date of the initial commercial transition
in 2021 through 2029, with a minimum annual fee of $70 million and a maximum
annual fee of $75 million (subject to proration in 2021). The Company will
record a pre-tax charge of approximately $550 million ($418 million after-tax)
in the third quarter of 2021 related to the modification and termination of the
prior commercial arrangement and resolution of the litigation related to these
agreements.

FORWARD-LOOKING STATEMENTS

Statements in this Form 8-K that are not strictly historical, including the
statement regarding the anticipated charge Danaher will incur as a result of the
agreements with Quidel and any other statements regarding events or developments
that we believe or anticipate will or may occur in the future are
"forward-looking" statements within the meaning of the federal securities laws.
There are a number of important factors that could cause actual results,
developments and business decisions to differ materially from those suggested or
indicated by such forward-looking statements and you should not place undue
reliance on any such forward-looking statements. These factors include, among
other things, those set forth in our 2020 Annual Report on Form 10-K and
Quarterly Report on Form 10-Q for the second quarter of 2021. These
forward-looking statements speak only as of the date of this Form 8-K and except
to the extent required by applicable law, the Company does not assume any
obligation to update or revise any forward-looking statement, whether as a
result of new information, future events and developments or otherwise.


ITEM 9.01         FINANCIAL STATEMENTS AND EXHIBITS

              (c) Exhibits:

   Exhibit No.                         Description

       3.1                               Beckman Coulter to Distribute BNP Cardiac Assay to Customers

       104                             Cover Page Interactive Data File

(formatted as inline XBRL with applicable

                                       taxonomy extension information contained in Exhibits 101)



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