BHI 3.0·Q1 2026 Bulletin
Last computed 14:32 UTC, Apr 29 2026·Spearman ρ = 0.83·Validation: preliminary
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Movers · since 14:32 UTC, Apr 29 2026
PLATFORM PROFILETMO

Thermo Fisher

$195BLab equipment standardPharma & Biotech
4.38
B-index (V3.1)
BLACK HOLE
Capture1.631
Escape0.373
Key Structural Insight

Razor-and-blade model at industrial scale. Each instrument purchase locks in years of consumable revenue.

Eleven-Parameter Profile

5DATAMEMACTPROCNETCLOSEPORTSUBFALLORGMOM
Data Depth7/10
Memory7/10
Action7/10
Process8/10
Network8/10
Closeness8/10
Portability3/10
Substitutability4/10
Human Fallback4/10
Org Depth8/10
Momentum6/10
Capture Escape Extended

V3.1 Decomposition

ComponentValueFormula
CES₄ capture core0.7244CES(d, m, a, p)
Knowledge synergy σₖ0.7000√(d · m)
Operability synergy σₒ0.7483√(a · p)
Synergy boost1.21721 + 0.3·(σₖ + σₒ)/2
Org-depth multiplier1.40001 + 0.5·o
Momentum multiplier1.18001 + 0.3·t
Total Capture1.6314c·(1+0.5n)·core·syn·org·mom
CES₃ escape core0.3651CES(x, s, h)
Feedback attenuation0.7465max(0.3, 1 − 0.35·core)
Total Escape0.3725ε + escCore · feedback
B = Capture / Escape4.381.631 / 0.373

Scoring Rationale

Lab equipment, reagents, consumables — integrated ecosystem. Researchers trained on Thermo Fisher instruments and protocols. Switching means retraining entire lab staff and revalidating experiments. Consumables create recurring lock-in.

Parameter Sensitivity

MARGINAL B-INDEX CHANGE PER ±1 SCORE SHIFT
CLOSE8
+1.09
PORT3
-0.66
SUB4
-0.57
FALL4
-0.57
ACT7
+0.44
DATA7
+0.44
MEM7
+0.44
PROC8
+0.41
NET8
+0.31
ORG8
+0.31
MOM6
+0.22
+ raises B (deepens lock-in) lowers B (aids escape)

Comparable PlatformsPharma & Biotech (5 peers)

#PlatformTickerB-indexZone
01IlluminaILMN5.78BLACK HOLEProfile →
02IQVIAIQV5.18BLACK HOLEProfile →
03RocheROG.SW3.88BLACK HOLEProfile →
04Veeva SystemsVEEV3.88BLACK HOLEProfile →
05ModernaMRNA1.86EVENT HORIZONProfile →