Varian Medical Systems Could Save More Lives and Compete More Efficiently Under U.S.-Korea Trade Agreement

Guest blog post by Secretary of Commerce, Gary Locke.This week, I’m visiting the Republic of Korea, one of the United States’ closest allies in the world, and one of our most important trading partners.  Last December, President Obama signed a landmark trade deal with Korea that could boost annual exports of American goods to Korea by up to $11 billion, supporting at least 70,000 U.S. jobs. But the deal still needs to pass Congress, which is why this week, I’m leading four Members of Congress on a fact-finding mission that will demonstrate firsthand how this trade deal will lead directly to more sales of American goods and services abroad and more American jobs here at home. Korean and U.S. businesses are already collaborating, innovating and trading together like never before.  This week, members of our delegation – which includes Representatives Dave Reichert and Jim McDermott from my home state of Washington and Representatives Joseph Crowley and Charles Rangel from New York – are getting to see this up close. Tomorrow, we visit Pantech, one of Korea’s largest mobile phone makers, and a major buyer of U.S. technology. 

By USAStockValuation:Varian Medical Systems Inc. (VAR) is a global leader in the supply of equipment and software for treating cancer with radiotherapy, radiosurgery, and brachytherapy. The company also sells x-ray equipment and x-ray imaging products along with proton therapy products and a range of other medical equipment and services mainly for the cancer treatment industry.

A saliva test to reveal a patient's risk of breast or prostate cancer could be available in doctors' surgeries within five years, according to a "groundbreaking" study. A major research drive involving more than 1,000 experts has revealed more than 80 genes which help determine from birth whether or not someone will develop cancer during their life.

On the second day of the CODEL trip to Korea, Secretary Locke and the congressional delegation visited Pantech, one of the largest mobile phone makers in South Korea, to see firsthand how the U.S.-South Korea Trade Agreement will help American and South Korean businesses and workers in today’s global manufacturing and supply chain.  Currently, Pantech imports about half a billion dollars worth of U.S. products annually, including chipsets from Qualcomm (San Diego, Calif.) and Gorilla Glass from Corning Inc. (Corning, New York).  Gorilla Glass is manufactured in Harrodsburg, Kentucky and is exported around the world for use in smart phones, tablets and other mobile devices and has applications across a large range of industries.  In addition, nearly 60 percent of Pantech’s production equipment is made by U.S. companies. With the approval and implementation of the U.S.-South Korea agreement, Pantech is expected to quadruple its purchase of U.S. products by 2015, while Corning will see existing tariffs on Gorilla Glass eliminated immediately upon implementation of the agreement. Corning, utilizing these benefits, will gain market share in South Korea’s growing mobile-device market by enhancing its competitiveness vis-à-vis other manufacturers in the region.  Corning is also investing $180 million to expand its factory in Harrodsburg in order to meet the growing demands of its customers in Asia, including South Korea.  Earlier in the day, Locke met with his South Korean counterpart, the Minister of Knowledge Economy Choi Joong-Kyung, to discuss KORUS and the cooperative relationship between the U.S. Department of Commerce and the Ministry of Knowledge Economy.

Zacks.com submits: Roche (RHHBY.PK) is looking to strengthen its presence in oncology and expand in other therapeutic areas like metabolism, inflammation and central nervous system ((CNS)). The company provided an update on its pipeline at a recently held investor conference.

By Ted Berg:Varian Medical Systems (VAR) is the leading supplier of radiation therapy systems used to treat cancer. The company's shares currently trade well below intrinsic value, which we estimate at just under $100. We see an opportunity for the shares to move higher based on a number of important secular drivers. Radiotherapy is a Critical Technology

The Burrill Report submits: by Marie Daghlian

By Sol Palha: "Don't let what you cannot do interfere with what you can do." John Wooden