Cover
Financial Highlights
Letter to Shareholders
Our Success is Clear
Making the Most
  Sum of Our Parts
The Deeper We Dig
Genetic Opportunities
Meet the Officers
Corporate Information

Where there are billions of people, there are billions of genetic opportunities.

Genomics and proteomics, two new fields of science, are expanding the scope of the drug discovery process. Genomics is the study of the collection of genes within an organism. The goal of proteomics is to define the proteins that genes express, their interactions with each other, and their relationships to disease states. Genomic- and proteomic-based discovery efforts have also led to the creation of the field of pharmacogenomics–the use of information about an

individual’s genome to predict that individual’s response to drugs. Scientists foresee a day when drugs can be targeted to groups of people, or individual patients, most likely to respond positively to them. Research of this magnitude requires the most advanced separations, mass spectrometry and mass informatic technologies available to interpret these highly complex data sets. The search for new drug targets, the pursuit of personalized medicines, and the anticipated growth in the number of associated clinical trials ultimately increase the demand for Waters separations systems used in combination with the Micromass Quattro Ultima,™ Q-TOF Ultima,™ Q-TOF micro™ and M@LDI HT™ Mass Spectrometers.

To date, marketable drugs are aimed at approximately 400–500 disease targets, or proteins. This number is projected to increase tenfold over the next decade. In the future, genomics and proteomics will significantly accelerate the search for new drug targets and increase the opportunity to create highly personalized medicine. Through internal and external investments, Waters will leverage technologies that position the company as an essential element in this future.