IDEXX at Morgan Stanley conference: growth plan leans on innovation

On 14 September 2026, IDEXX Laboratories unveiled its growth strategy at the Morgan Stanley 24th Annual Global Healthcare Conference, emphasizing innovation, diagnostics, and market expansion. Despite a slight decline in veterinary visits expected for the second half of 2026, the company reported strong Q2 2026 results and raised its full-year guidance.

CEO Mike Erickson highlighted the company's focus on diagnostics, describing it as a "9 out of 10 opportunity." IDEXX launched Cancer Dx, a lymphoma detection test, and inVue Dx cytology, which is generating $3,500 to $5,500 in recurring revenue per instrument. The company also introduced MultiQ Dx, a paradigm-shifting platform, and plans to expand its commercial presence in Spain, France, South Korea, Canada, and select U.S. markets.

IDEXX's operating margin is expected to surpass 32% on a comparable basis, and the company aims for double-digit growth in reference lab and VetLab recurring revenue. Management attributes its financial strength to its robust free cash flow, used for reinvesting in research and development and share repurchases.