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QIAGEN Partners DiaSorin, Boosts Molecular Diagnostics Arm
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QIAGEN N.V. (QGEN - Free Report) recently announced the signing of a new collaboration agreement with DiaSorin. Post collaboration, QIAGEN’s QuantiFERON-TB diagnostic test will be available in DiaSorin’s LIAISON portfolio of fully automated analyzers.
This is not the first time Qiagen is partnering with this renowned In Vitro Diagnostics (IVD) player. Earlier in June 2017, these two had partnered to develop new tests based on a review and selection process involving QIAGEN’s assay technologies tests for DiaSorin’s LIAISON family of analyzers.
As per the latest announcement, QFT-Plus stands to be the first assay from QIAGEN’s QuantiFERON portfolio that will be available for use on the LIAISON family systems. Also, per the company, more than 7,000 LIAISON systems have already been placed globally. Thus, we believe, this deal will help QIAGEN expand its customer base.
Moreover, per the agreement, the companies will be working on developing a completely automated version of the QuantiFERON test read-out components for use with the QuantiFERON-TB Plus test along with future QuantiFERON-based tests that will be adopted for use on LIAISON. In this regard, the companies plan to launch the CE marked new QuantiFERON read out components for use on LIAISON XL in the third quarter of 2018. Moreover, a 2019 launch in the United States along with a 2020 launch in China is planned for the same.
Recent Developments in QuantiFERON-TB Diagnostic Test Kit
The QuantiFERON-TB diagnostic test kit falls under QIAGEN’s Molecular Diagnostics segment, which was the highest revenue grosser in the last reported quarter. Notably, the segment contributed 49% to total revenues on the back of substantial growth in QuantiFERON latent TB tests, QIAsymphony automation system consumables portfolio and solid performance of companion diagnostic pharma collaborations.
In this regard, post the receipt of FDA approval in June 2017, QIAGEN had announced the complete launch of the fourth-generation blood test for tuberculosis (TB) infection — QuantiFERON-TB Gold Plus (QFT-Plus) — in the United States. Built on the QuantiFERON-TB Gold (QFT) platform, QFT-Plus provides enhanced analysis of TB infection. This advanced kit makes TB testing with innovative antigens possible as it measures the cell-mediated immune response to TB from both CD4+ and CD8+ T cells.
Market Prospects
QIAGEN has been witnessing substantial demand for the QuantiFERON-TB diagnostic test kit. Notably, the company announced touching the milestone of conducting 40 million QuantiFERON-TB tests globally since its initial launch by the end of 2017.
Also, per a Morbidity and Mortality Weekly Report (MMWR) published by Centers for Disease Control and Prevention, a total of 9,287 new TB cases were diagnosed in the United States in 2016. And according to Research and Markets data published onBusiness Wire, the TB market is expected to see a CAGR of 4.3% to 4.8% between 2016 and 2022. In this regard, with the latest partnership, the company will be able to cash in the opportunities in the TB market.
Share Price Performance
QIAGEN has been gaining investor confidence on consistently encouraging results. Over the last three months, the company’s share price has outperformed the broader industry. The stock has lost 5.4% compared with the broader industry’s 6% decline.
Zacks Rank & Key Picks
QIAGEN carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the broader medical sector are Amedisys, Inc. (AMED - Free Report) , Bio-Rad Laboratories, Inc. (BIO - Free Report) and Intuitive Surgical, Inc. (ISRG - Free Report) .
Amedisys has a long-term expected earnings growth rate of 18.5%. The stock carries a Zacks Rank of 2 (Buy).
Intuitive Surgical has a long-term expected earnings growth rate of 9.2%. The stock carries a Zacks Rank of 2.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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QIAGEN Partners DiaSorin, Boosts Molecular Diagnostics Arm
QIAGEN N.V. (QGEN - Free Report) recently announced the signing of a new collaboration agreement with DiaSorin. Post collaboration, QIAGEN’s QuantiFERON-TB diagnostic test will be available in DiaSorin’s LIAISON portfolio of fully automated analyzers.
This is not the first time Qiagen is partnering with this renowned In Vitro Diagnostics (IVD) player. Earlier in June 2017, these two had partnered to develop new tests based on a review and selection process involving QIAGEN’s assay technologies tests for DiaSorin’s LIAISON family of analyzers.
As per the latest announcement, QFT-Plus stands to be the first assay from QIAGEN’s QuantiFERON portfolio that will be available for use on the LIAISON family systems. Also, per the company, more than 7,000 LIAISON systems have already been placed globally. Thus, we believe, this deal will help QIAGEN expand its customer base.
Moreover, per the agreement, the companies will be working on developing a completely automated version of the QuantiFERON test read-out components for use with the QuantiFERON-TB Plus test along with future QuantiFERON-based tests that will be adopted for use on LIAISON. In this regard, the companies plan to launch the CE marked new QuantiFERON read out components for use on LIAISON XL in the third quarter of 2018. Moreover, a 2019 launch in the United States along with a 2020 launch in China is planned for the same.
Recent Developments in QuantiFERON-TB Diagnostic Test Kit
The QuantiFERON-TB diagnostic test kit falls under QIAGEN’s Molecular Diagnostics segment, which was the highest revenue grosser in the last reported quarter. Notably, the segment contributed 49% to total revenues on the back of substantial growth in QuantiFERON latent TB tests, QIAsymphony automation system consumables portfolio and solid performance of companion diagnostic pharma collaborations.
In this regard, post the receipt of FDA approval in June 2017, QIAGEN had announced the complete launch of the fourth-generation blood test for tuberculosis (TB) infection — QuantiFERON-TB Gold Plus (QFT-Plus) — in the United States. Built on the QuantiFERON-TB Gold (QFT) platform, QFT-Plus provides enhanced analysis of TB infection. This advanced kit makes TB testing with innovative antigens possible as it measures the cell-mediated immune response to TB from both CD4+ and CD8+ T cells.
Market Prospects
QIAGEN has been witnessing substantial demand for the QuantiFERON-TB diagnostic test kit. Notably, the company announced touching the milestone of conducting 40 million QuantiFERON-TB tests globally since its initial launch by the end of 2017.
Also, per a Morbidity and Mortality Weekly Report (MMWR) published by Centers for Disease Control and Prevention, a total of 9,287 new TB cases were diagnosed in the United States in 2016. And according to Research and Markets data published onBusiness Wire, the TB market is expected to see a CAGR of 4.3% to 4.8% between 2016 and 2022. In this regard, with the latest partnership, the company will be able to cash in the opportunities in the TB market.
Share Price Performance
QIAGEN has been gaining investor confidence on consistently encouraging results. Over the last three months, the company’s share price has outperformed the broader industry. The stock has lost 5.4% compared with the broader industry’s 6% decline.
Zacks Rank & Key Picks
QIAGEN carries a Zacks Rank #4 (Sell).
A few better-ranked stocks in the broader medical sector are Amedisys, Inc. (AMED - Free Report) , Bio-Rad Laboratories, Inc. (BIO - Free Report) and Intuitive Surgical, Inc. (ISRG - Free Report) .
Bio-Rad Laboratories flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. The company has a long-term expected earnings growth rate of 25%.
Amedisys has a long-term expected earnings growth rate of 18.5%. The stock carries a Zacks Rank of 2 (Buy).
Intuitive Surgical has a long-term expected earnings growth rate of 9.2%. The stock carries a Zacks Rank of 2.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>