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Illumina (ILMN) Expands NIPT Offering With New Collaboration

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Illumina, Inc. (ILMN - Free Report) recently collaborated with Next Generation Genomic (NGG Thailand) to launch VeriSeq NIPT Solution v2, a CE-IVD, next-generation sequencing (NGS)-based approach to noninvasive prenatal testing (NIPT) in Thailand. The partnership will provide Illumina with wider patient access under next-generation sequencing for NIPT.

For investors’ note, NGG is a center for reproductive and prenatal genetic testing and is aimed to offer high-quality laboratory services with continuous quality improvement and leadership in education.

More on VeriSeq NIPT Solution v2

The clinical accuracy of the CE-IVD VeriSeq NIPT Solution v2 was confirmed by evaluating more than 2,300 plasma samples from pregnant women with singleton and twin pregnancies undergoing prenatal screening for fetal chromosome aneuploidies and partial deletions and duplications of 7 Mb or greater. The study confirmed that VeriSeq NIPT Solution v2 provided highly sensitive and specific results.

Notably, the CE-IVD VeriSeq NIPT Solution v2 is now registered for use in Thailand, Vietnam, Singapore, South Korea, Australia, New Zealand, Israel, South Africa and across most countries in Europe.

Significance of the Launch

The automated in-lab IVD solution will enable NGG Thailand to commence the Qualifi Prenatal Test which will become the first laboratory in South East Asia that will provide more insights into the health of pregnant women compared to standard NIPT offerings.

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With the use of Illumina’s VeriSeq NIPT Solution v2, the test provides a complete view of the fetal genome compared to other CE-IVD NIPT products, allowing healthcare providers to support expectant parents with informed, timely and personalized pregnancy management options.

Per Illumina’s management, NGG Thailand’s expertise coupled with Illumina’s comprehensive technologies will facilitate healthcare providers and expectant parents to unlock the most critical information possible.

Progress in NIPT Offering

During the first-quarter earnings call, Illumina noted in the United States, two large payers, Anthem and Blue Cross Blue Shield of Minnesota, expanded their coverage criteria to include twin pregnancies as well. Further, in Italy and Sweden, new coverage requirements were approved during the first quarter of 2021.

In March 2021, Illumina together with the researchers at the University of Colorado and Harvard Pilgrim Health Care (“HPHC”) announced positive study outcome related to the evaluation of the impact of expanded NIPT coverage. The research findings demonstrate that expanding NIPT coverage to women under 35 increased the adoption and usage of NIPT and reasonably elevated prenatal screening outlay.

Industry Prospects

Per a report by Grand View Research, the global non invasive prenatal testing market size was valued $2.83 billion in 2020 and is expected to reach $6.47 billion by 2028 at a CAGR of 10.9%. Improving reimbursement policies for average and low-risk pregnancies are key catalysts that are driving the market.

Price Performance

Shares of the company have gained 11% in a year’s time against the industry’s fall of 7.9%.

Zacks Rank and Other Key Picks

Currently, the company carries a Zacks Rank #2 (Buy).

A few other top-ranked stocks from the broader medical space are National Vision Holdings, Inc. (EYE - Free Report) , The Cooper Companies, Inc. (COO - Free Report) and Envista Holdings Corporation (NVST - Free Report) . While National Vision sports a Zacks Rank #1 (Strong Buy), The Cooper Companies and Envista Holdings carry a Zacks Rank #2. You can see the complete list of Zacks #1 Rank stocks here.

National Vision has a projected long-term earnings growth rate of 23%.

The Cooper Companies has a projected long-term earnings growth rate of 11%.

Envista Holdings has an estimated long-term earnings growth rate of 26%.

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