<SEC-DOCUMENT>0001193125-22-192010.txt : 20220921
<SEC-HEADER>0001193125-22-192010.hdr.sgml : 20220921
<ACCEPTANCE-DATETIME>20220712161602
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-22-192010
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220712

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DANAHER CORP /DE/
		CENTRAL INDEX KEY:			0000313616
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
		IRS NUMBER:				591995548
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2200 PENNSYLVANIA AVE. N.W.
		STREET 2:		SUITE 800W
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20037-1701
		BUSINESS PHONE:		2028280850

	MAIL ADDRESS:	
		STREET 1:		2200 PENNSYLVANIA AVE. N.W.
		STREET 2:		SUITE 800W
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20037-1701

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DMG INC
		DATE OF NAME CHANGE:	19850221
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Danaher Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2200 Pennsylvania Avenue, N.W., Suite 800W </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Washington, DC 20037-1701 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>CONFIDENTIAL
TREATMENT REQUEST UNDER RULE 83 </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The entity requesting confidential treatment is: </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Danaher Corporation </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>2200 Pennsylvania Avenue, N.W.,
Suite 800W </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Washington, DC 20037-1701 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Attn:
James O&#146;Reilly, Associate General Counsel and Company Secretary </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">202-828-0850</FONT></FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>July&nbsp;12, 2022 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Via EDGAR </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation
Finance, Office of Life Sciences </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left">Attention:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Michael Fay </P></TD></TR></TABLE>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="9%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Brian Cascio </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Danaher Corporation (the &#147;Company&#148;) </B></P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the Fiscal Year Ended December&nbsp;31, 2021 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>Filed February&nbsp;23, 2022 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>File <FONT STYLE="white-space:nowrap">No.&nbsp;001-08089</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr.&nbsp;Fay and Mr.&nbsp;Cascio: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We hereby submit the
Company&#146;s response to the comment of the Staff (the &#147;Staff&#148;) of the Securities and Exchange Commission (the &#147;Commission&#148;) conveyed in a letter to the Company dated June&nbsp;24, 2022 in connection with the Staff&#146;s
review of the Company&#146;s Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended December&nbsp;31, 2021. For your convenience, we have reproduced the Staff&#146;s comment in italicized type preceding our response.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Form <FONT STYLE="white-space:nowrap">10-K</FONT> For the fiscal year ended December&nbsp;31, 2021 </U></I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Consolidated Financial Statements </U></I></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I><U>Note 8.
Other Operating Expenses, page 86 </U></I></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><I>1.</I></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note you entered into a series of related agreements to resolve litigation and to modify and partially
terminate the related prior commercial arrangements, and $547&nbsp;million was recorded as pretax contract settlement expense due to the unfavorable nature of the arrangement and $34&nbsp;million was capitalized as intangible assets. Please explain
to us in further detail the basis for predominantly recording the arrangement as contract settlement expense. As part of your response, please provide details of the significant assumptions and methodologies in the valuation used to assist you in
determining the value of each of the elements of the transaction. In addition, your response should also include: </I></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>details of the underlying litigation; </I></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>the significant terms of each of the agreements; </I></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>the reason why the payments were structured over a duration through 2029, and not all upfront;
</I></P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>how the <FONT STYLE="white-space:nowrap">non-fixed</FONT> portion of the payments are to be determined;
</I></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>the elements of the transaction and the specific unfavorable nature of the prior arrangement that resulted in
significant expense being recorded and why greater value was not attributed to the ongoing acquired rights;</I> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>the reason why the payments are not expensed as due;</I> </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>the reason why you did not account for each agreement on a stand-alone basis; and,</I> </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="10%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><I>the reason it is appropriate to present the cash outflows as a financing activity.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Response: </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On June&nbsp;24, 2003 (prior to its
acquisition by Danaher Corporation in 2011), Beckman Coulter, Inc. (&#147;Beckman&#148;) entered an agreement with Biosite Incorporated (&#147;Biosite&#148;) whereby Beckman would develop a <FONT STYLE="white-space:nowrap">B-type</FONT> Natriuretic
Peptide (&#147;BNP&#148;) test and become the sole manufacturer of the test for Biosite, in each case using antibodies that Biosite owned or had rights to (the &#147;BNP Agreement&#148;). BNP tests are used to detect certain heart disease. Beckman
analyzers<SUP STYLE="font-size:75%; vertical-align:top">1</SUP> are capable of testing for a large volume of human ailments, however in 2003 Beckman did not have a BNP test available for its analyzers. Accordingly, Beckman entered into the BNP
Agreement to provide Beckman&#146;s customers with a BNP test solution. Under the agreement, while Beckman developed and manufactured the tests, Biosite sold the BNP tests to Beckman customers. The BNP Agreement prohibited Beckman from researching,
developing, manufacturing or selling a BNP test or any other related test for heart disease that competes with the BNP test (the &#147;Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Rule 83 Confidential Treatment Request by Danaher Corporation </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Request #1 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Following a series of
divestitures, Biosite&#146;s BNP related assets (including the BNP Agreement) were acquired by Quidel Corporation (&#147;Quidel&#148;) in 2017. In addition, a competing test for heart disease became available in certain markets and gained market
preference in certain geographies. [**]. By 2016 all patents and intellectual property rights associated with Quidel&#146;s BNP technology had expired. However, a product market provision of the BNP Agreement resulted in an effectively perpetual
extension of the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision obligation. Following the expiration of the underlying intellectual property, the obligation imposed by the Exclusivity and
<FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision was not commensurate with the financial benefit realized by the Company under the BNP Agreement. Despite the Company developing and manufacturing the test for use by customers on Beckman
analyzers, [**]. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Danaher Corporation respectfully requests that the information contained in the response be treated as confidential information and
that the Commission provide timely notice to James O&#146;Reilly, Associate General Counsel and Company Secretary, Danaher Corporation, 2200 Pennsylvania Avenue, N.W., Suite 800W, Washington, DC 20037-1701, phone <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">202-828-0850,&nbsp;before</FONT></FONT> it permits any disclosure of the bracketed information in Request #1. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In November
2017, Beckman filed a lawsuit in the Superior Court of San Diego, California alleging that the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision of the BNP Agreement between Quidel and Beckman violated state antitrust
laws and was therefore unenforceable. Beckman argued that it had suffered damages due to this provision and sought a declaration that the provision was void. On December&nbsp;7, 2018, the trial court granted a motion by Beckman for summary
adjudication, holding that the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision is void under California law. Quidel appealed to the Court of Appeals, which overturned the ruling. The Supreme Court of California affirmed
the Court of Appeals&#146; decision but the case was ultimately transferred back to trial court. A civil jury trial was scheduled to begin April&nbsp;15, 2022. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:75%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">An analyzer is a large-scale medical device capable of processing a broad menu of different types of medical
tests in order to analyze/detect human ailments. Typically, the manufacturer of analyzers also manufacturers the test kits. Analyzers are typically used by medical related institutions (hospitals, universities, etc.). Operators of analyzers purchase
test kits based on their inventory needs. Test kits are selected from a list of available tests. Each test kit is specific to an ailment or small group of related ailments and generally test one or a small number of samples. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To avoid the risk of an unfavorable outcome of the litigation and achieve the objective of terminating the
Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision, Beckman settled the litigation with Quidel by modifying and partially terminating the BNP Agreement through a series of simultaneously executed agreements, as summarized
below: </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Confidential Settlement Agreement and Mutual Release </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Beckman and Quidel agreed to file dismissals of their ongoing court proceedings and released one another from all
claims that had been or could be asserted. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Rule 83 Confidential Treatment Request by Danaher Corporation </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Request #2 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Master Agreement </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Under this agreement, Beckman&#146;s commitment to supply BNP test kits to Quidel was terminated. For a limited
period (approximately one year), Beckman obtained the right to distribute and sell the BNP test sold by Quidel to provide continuity to customers while Beckman registered its own branded BNP test. As a result of this right, the Company recorded a
related customer relationship and trade name intangible assets. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Quidel granted to Beckman a license / sublicense to two BNP antibodies used in the BNP test. The Company
identified a related supply agreement / technology transfer (including license / sublicense) intangible asset related to the <FONT STYLE="white-space:nowrap">know-how</FONT> to manufacture certain of the antibodies used in the BNP test (see also
Supply Agreement below). </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Beckman agreed to pay Quidel minimum consideration of $70&nbsp;million (and maximum consideration of $75 million)
per year through 2029 (subject to proration for 2021). The minimum consideration of $70&nbsp;million per year is not contingent and is payable in quarterly installments even if Beckman no longer sells any BNP tests. At the end of each year, Beckman
multiplies the number of BNP tests sold that year times a set amount per test, and to the extent the resulting amount is above the minimum consideration then Beckman must pay the additional amount up to a maximum of $75&nbsp;million per year. Based
upon Beckman&#146;s historical and estimated future sales volumes of the BNP test, Beckman expects to pay the maximum amount of $75&nbsp;million each year (the maximum amount was paid, but prorated, for 2021). The present value of such payments at
the time of settlement was $576&nbsp;million. [**]. These payments form the consideration for the termination of the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision and the assets acquired. </P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Second Amendment to the BNP Agreement </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Quidel committed to cease selling the BNP tests. The Company determined the value of this commitment to be de
minimis given the limited activities performed by Quidel prior to the settlement. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">This amendment also terminated the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision,
allowing Beckman to research, develop, manufacture and distribute BNP type tests [**]. This termination of the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision resulted in the settlement expense. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Danaher Corporation respectfully requests that the information contained in the response be treated as confidential information and that the Commission
provide timely notice to James O&#146;Reilly, Associate General Counsel and Company Secretary, Danaher Corporation, 2200 Pennsylvania Avenue, N.W., Suite 800W, Washington, DC 20037-1701, phone <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">202-828-0850,&nbsp;before</FONT></FONT> it permits any disclosure of the bracketed information in Request #2. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Distribution
Agreement </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">This agreement provided Beckman with the rights to distribute Quidel branded BNP products for approximately one
year until Beckman has its own products registered, and also provided Beckman with use of the Quidel trade name for a limited period of time. As a result of these rights, the Company recorded a trade name intangible asset. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Supply Agreement </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">This agreement provided for the transfer from Quidel to Beckman of the rights, materials and <FONT
STYLE="white-space:nowrap">know-how</FONT> (essentially the standard operating procedures) to grow and maintain the antibodies in a manner consistent with current practice. These antibodies are one of many inputs to the BNP test manufacturing
process. Quidel also committed to provide a supply of related materials. As a result of these rights, the Company recorded a related supply agreement / technology transfer intangible asset. </P></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Transition Services Agreement </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">This agreement requires Quidel and Beckman to provide each other with certain services to support the transition
of distribution and sale of the BNP tests, including the transfer from Quidel to Beckman of customer contracts / relationships and limited use of the Quidel trade name by Beckman. As a result of these rights, the Company recorded related customer
relationships and trade name intangible assets. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As these agreements were negotiated at the same time as part of the settlement of the
litigation and cross-reference one another, the Company concluded that the agreements should not be accounted for on a stand-alone basis but rather should be considered in the aggregate. While the primary purpose of the settlement was the
termination of the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision, the consideration paid by the Company was in exchange for the agreements in totality. As the arrangement contains multiple elements, the Company
identified and evaluated each element within the agreements and allocated the consideration to each element as applicable. As discussed further below, the Company considered ASC 805, <I>Business Combinations</I>, which provides guidance to identify
transactions separate from a business combination. Additionally, there are two Staff speeches that provide guidance regarding multiple element arrangements in circumstances not involving revenue recognition. The Company believes that its accounting
treatment is consistent with the Remarks Before the 2006 AICPA National Conference on Current SEC and PCAOB Developments by Joseph D. McGrath (the McGrath Speech) and Remarks Before the 2007 AICPA National Conference on Current SEC and PCAOB
Developments by Eric C. West (the West Speech). In the McGrath Speech, the Staff discussed transactions or agreements that contained multiple elements and were not otherwise subject to specific authoritative literature including examples of: i)
contract termination agreements; ii) executory contracts including modifications to existing contracts that may have required an upfront payment or; iii) a litigation settlement which required future services or other concessions between the
parties. The Company believes the settlement with Quidel reflects the fundamental concepts referenced in these speeches and therefore requires evaluation of and accounting for each of the elements in the settlement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Rule 83 Confidential Treatment Request by Danaher Corporation </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Request #3 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In exchange for the
consideration paid to Quidel, the Company received the termination of the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision and certain intangible assets as described above. Notwithstanding the acquisition of the
intangible assets, the Company&#146;s principal business purpose in settling the litigation was the termination of the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision. Beckman already possessed the <FONT
STYLE="white-space:nowrap">know-how</FONT> and capabilities to produce the BNP test [**], but only Quidel could release the Company from the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Danaher Corporation respectfully requests that the information contained in the response be treated as confidential information and that the Commission
provide timely notice to James O&#146;Reilly, Associate General Counsel and Company Secretary, Danaher Corporation, 2200 Pennsylvania Avenue, N.W., Suite 800W, Washington, DC 20037-1701, phone <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">202-828-0850,&nbsp;before</FONT></FONT> it permits any disclosure of the bracketed information in Request #3. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the allocation of the consideration between the identified elements, the Company considered the guidance
in ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">805-10-25-20,</FONT></FONT></FONT> which requires an acquiror to identify any amounts in a business combination that are not part of the
exchange for the acquiree (i.e., the settlement payment to terminate the existing contractual relationship). The EY Business Combinations Financial Reporting Development publication (June 2021) section A.2.6.1 contains guidance consistent with ASC <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">805-10-25-20</FONT></FONT></FONT> and states that in an asset acquisition, a settlement gain or loss should be recognized consistent with the principles of
ASC 805. The PricewaterhouseCoopers guide for Property, Plant, Equipment and Other Assets (February 2022), section 2.3.6.1 Preexisting relationships (asset acquisitions) also states, &#147;The acquirer and seller in an asset acquisition may have a
preexisting relationship before negotiations for the exchange transaction begin that is effectively settled as a result of the asset acquisition.&nbsp;There is no guidance outside of a business combination for the settlement of preexisting
relationships. However, we believe settlement gains and losses relating to preexisting relationships should generally be recognized in the income statement consistent with the guidance for business combinations in ASC
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">805-10-55-21.&#148;</FONT></FONT></FONT> In addition, the Company also considered the guidance from the West Speech in which the Staff noted that it
would be acceptable to value each element of the arrangement and allocate the consideration to each element using relative fair values. Following both the guidance in ASC 805 and the West Speech, the Company allocated the consideration based on the
estimated fair values of the intangible assets acquired and the settlement of the preexisting contractual relationship (the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Rule 83 Confidential Treatment Request by Danaher Corporation </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Request #4 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To assist in valuing the
elements of the transaction, the Company engaged a third-party valuation specialist contemporaneously with the settlement. The valuations were derived based on projected financial information related to the existing BNP test [**]. The consideration
payments were discounted using the blended borrowing rate of the Company to arrive at a <FONT STYLE="white-space:nowrap">pre-tax</FONT> present value of $581&nbsp;million (consisting of $576&nbsp;million related to the present value of the
consideration of $75&nbsp;million per year and $5&nbsp;million related to inventory purchased from Quidel). To determine the weighted average cost of capital for use in valuing the identified intangible assets, the Company evaluated market
participants and calculated a market participant baseline weighted average cost of capital. The table below summarizes the allocation of the present value of the consideration of $576&nbsp;million to the elements identified in the transaction ($ in
millions): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>

<TD WIDTH="90%"></TD>

<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Amount</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Termination of the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT>
Provision</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">542</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Supply agreement / technology transfer intangible asset</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Customer relationship intangible asset</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Quidel trade name intangible asset</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total consideration</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>$</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>576</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Danaher Corporation respectfully requests that the information contained in the response be treated as confidential
information and that the Commission provide timely notice to James O&#146;Reilly, Associate General Counsel and Company Secretary, Danaher Corporation, 2200 Pennsylvania Avenue, N.W., Suite 800W, Washington, DC 20037-1701, phone <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">202-828-0850,&nbsp;before</FONT></FONT> it permits any disclosure of the bracketed information in Request #4. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the valuation of the supply agreement / technology transfer, the Company used a relief from royalty approach, where the value of the intangible asset is
equal to the present value of the <FONT STYLE="white-space:nowrap">after-tax</FONT> royalty savings attributable to owning the intangible asset. Royalty rates were based on third party pricing for similar antibodies. Based on this approach, the
Company valued the supply agreement / technology transfer intangible asset at $31&nbsp;million. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the valuation of the customer relationships, the
Company used a multi-period excess earnings method under a market participant distributor model. The revenue projections were based on an assumption relating to the portion of revenue attributable to customers where Beckman and Quidel have
overlapping sales and therefore Beckman will </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

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have increased sales in the future as a result of these customers. For customers purchasing the BNP test, the customer relationship is primarily driven by Beckman through the Beckman analyzer.
Quidel&#146;s relationship with the Beckman customers is akin to a distributor&#146;s relationships as Quidel relies on Beckman&#146;s sales team to functionally make the sale. Quidel does not provide any additional value-added services to the
customers (similar to a distributor). Therefore, an estimated earnings before interest and taxes (&#147;EBIT&#148;) margin based on a benchmarking of EBIT margins of guideline public distributors was applied to the customer relationships in the
valuation. Based on this approach, the Company valued the customer relationships at $2&nbsp;million. For the valuation of the use of the Quidel trade name, the Company used a relief from royalty approach, valuing the trade name at $1&nbsp;million,
based on an estimated royalty rate. The minimal value of the trade name reflects that the Company is using the Quidel trade name for a limited amount of time consistent with market participants who generally brand tests under their analyzer brand.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Rule 83 Confidential Treatment Request by Danaher Corporation </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Request #5 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the valuation of the
termination of the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision, the Company used an income approach and determined the fair value to be $542&nbsp;million, representing the value of the Company&#146;s ability to
market and sell a Company-branded BNP test [**]. As discussed earlier, the Company&#146;s principal purpose of the settlement was to remove the restrictions of the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision in
order to research, develop, manufacture and sell BNP test [**]. For the recognition of the contract settlement expense, the Company considered that it is legally obligated to pay the minimum consideration of $70&nbsp;million each year even if the
Company does not sell any BNP tests. Based on the historical and estimated future sales volumes of the BNP test, the Company believes that it is highly probable that it will pay the maximum consideration of $75&nbsp;million each year and that the
contingency that requires the additional annual payment amount of $5&nbsp;million (incremental to the $70&nbsp;million minimum annual amount) is not substantive to the Company in its determination of its obligation to make these payments. Therefore,
the Company has used the maximum annual amount in the determination of the consideration paid. The incremental financial impact of the additional annual payment of $5&nbsp;million per year is insignificant to the Company&#146;s financial statements.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Danaher Corporation respectfully requests that the information contained in the response be treated as confidential information and that the
Commission provide timely notice to James O&#146;Reilly, Associate General Counsel and Company Secretary, Danaher Corporation, 2200 Pennsylvania Avenue, N.W., Suite 800W, Washington, DC 20037-1701, phone <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">202-828-0850,&nbsp;before</FONT></FONT> it permits any disclosure of the bracketed information in Request #5. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company
concluded it should not expense the payments annually as they are made over the period from 2021 through 2029 because doing so would result in deferral of a liability and deferral of an expense recognition that is inconsistent with the substance and
intent of the transaction, the Company&#146;s related obligations and generally accepted accounting principles. To expense the payments as they are made, rather than recognize an expense at the time of the settlement, would not give recognition to
the settlement of the <FONT STYLE="white-space:nowrap">on-going</FONT> litigation and termination of the Exclusivity and <FONT STYLE="white-space:nowrap">Non-compete</FONT> Provision as required by ASC 805, as discussed above. The settlement
arrangement obligates the Company to make the minimum payments from 2021 through 2029 even if no tests are sold. Additionally, at the end of the payment period, there are no continuing financial obligations under these arrangements and there is no
restriction on the Company&#146;s activities resulting from the ending of the payments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For the presentation of the contract settlement arrangement in
the Company&#146;s Statement of Cash Flows, the Company considered the guidance in ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">230-10-45-15(c)</FONT></FONT></FONT> and ASC <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">230-10-45-17(d).</FONT></FONT></FONT> By structuring the payments to occur periodically through 2029 (even though the termination occurred on July&nbsp;24,
2021), Quidel has extended long term credit to the Company for the payment of the contract settlement liability. Following the guidance in ASC
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">230-10-45-15(c),</FONT></FONT></FONT> the principal portion of the payment to Quidel is classified as a cash outflow from financing activities. The
interest portion of the payment is classified as a cash outflow from operating activities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company acknowledges that the Company and its management
is responsible for the accuracy and adequacy of the disclosures in its filings, notwithstanding any review, comments, action or absence of action by the Staff. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Please direct any questions concerning this filing to the undersigned at (202) <FONT
STYLE="white-space:nowrap">828-0850.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top">/s/ Christopher M. Bouda</TD></TR>
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<TD VALIGN="top">Christopher M. Bouda</TD></TR>
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<TD VALIGN="top">Vice President - Chief Accounting Officer</TD></TR>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Matthew R. McGrew, Executive Vice President and Chief Financial Officer </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Brian W. Ellis, Senior Vice President &#150;General Counsel </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Jonathan Wolfman (of WilmerHale) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Office of Freedom of Information and Privacy Act Operations </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

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