Waters Corporation WAT

HealthcareMarket cap $43B4 connections

Waters Corporation makes high-performance liquid chromatography (HPLC) instruments and mass spectrometers for pharmaceutical analysis. Every pharmaceutical company uses HPLC to test drug purity and stability. The FDA requires HPLC testing for drug approval. Waters' installed base of 200,000+ instruments creates strong consumables and service revenue.

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Customers 3

Companies Waters Corporation sells to

Eli LillyHealthcare · $1.1TEli Lilly uses Waters chromatography for GLP-1 analysis
Johnson & JohnsonHealthcare · $654BAnalytical instruments
PfizerHealthcare · $163BPfizer uses Waters HPLC for drug purity testing

Competitors 1

Companies it competes with

Agilent TechnologiesHealthcare · $49BChromatography and mass spec

Other Healthcare companies

Eli Lilly Johnson & Johnson AbbVie Novo Nordisk Merck UnitedHealth Thermo Fisher AstraZeneca Amgen Novartis

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Relationships are compiled by VexMap from company filings, announcements and reporting, and last reviewed September 2026. Spotted something wrong? Tell us. Not investment advice.