This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at email@example.com or call 800-767-3771 ext. 9339.
For Immediate Release
Chicago, IL – July 10, 2012 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Qiagen (QGEN - Snapshot Report), Bristol-Myers Squibb Co. (BMY - Analyst Report), Eli Lilly & Co. (LLY - Analyst Report), Quest Diagnostics (DGX - Analyst Report) and Myriad Genetics (MYGN - Analyst Report).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Monday’s Analyst Blog:
FDA Approves Qiagen’s KRAS Test
Molecular diagnostics solutions provider, Qiagen (QGEN - Snapshot Report) recently got the nod of the U.S. Food and Drug Administration (“FDA”) to market the therascreen KRAS RGQ PCR Kit (therascreen KRAS test), which helps in determining the responsiveness of the metastatic colorectal cancer patients to the drug Erbitux (cetuximab). Qiagen considers this FDA approval of the therascreen KRAS test as a major breakthrough in the company’s international expansion of its Personalized Healthcare franchise that comprises a huge portfolio of molecular companion diagnostics to guide treatments in oncology.
The drug Erbitux is an epidermal growth factor receptor (EGFR) inhibitor and is used to treat colon and rectum cancer. It is also beneficial for head and neck cancer treatment. Currently, this drug is marketed in the U.S. by Bristol-Myers Squibb Co. (BMY - Analyst Report) and Eli Lilly & Co. (LLY - Analyst Report).
With the current estimation of roughly 110,000 colorectal cancer patients a year, Qiagen encouragingly noted that the annual sales of the KRAS test in colon cancer in the U.S. should be around $20 million annually. Hence, the company is expected to gain major traction in the companion diagnostics market on the heels of this latest development.
Notably, Qiagen already successfully markets a broad range of companion diagnostic tests covering 30 biomarkers in Europe, Asia/Pacific and Japan. The company currently offers 10 CE-marked tests based on real-time PCR technology or Pyrosequencing in Europe.
The new development should fit well in the company’s product portfolio as Qiagen has been pursuing the development of molecular detection platforms across the world. We remain encouraged by Qiagen’s focus on strategic initiatives to drive growth and profitability in the companion diagnostics market. Its innovative tests in the genomic/esoteric arena with a focus on the high-margin esoteric testing business are expected to accelerate sales in the next several quarters. Qiagen’s long-term strategy involves technological advancement and new product introduction that can hugely enhance its competitive advantage.
However, the company is facing mounting competition in the molecular diagnostic space especially from players like Quest Diagnostics (DGX - Analyst Report) and Myriad Genetics (MYGN - Analyst Report). Currently, Qiagen retains a Zacks #3 Rank (short-term Hold rating).
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Zacks Investment Research
800-767-3771 ext. 9339