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QIAGEN (QGEN) Expands Enzyme Offering to Aid Laboratory

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QIAGEN N.V. (QGEN - Free Report) recently announced that it will offer its premium enzymes as standalone solutions, giving researchers and business clients the freedom to design their own tests and workflows. As a result, QIAGEN is now a one-stop shop for all research needs, including solutions for sample preparation, automation and bioinformatics.

The latest development will improve QIAGEN's Automated Instruments division.

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For many years, QIAGEN has been a dependable supplier of enzymes to Original Equipment Manufacturer (OEM) clients all around the world, helping countless tests to be successful. These enzymes have contributed to the commercial success of QIAGEN's own kits, which have processed more than 3 billion samples to date utilizing QIAGEN consumable kits internationally.

For a variety of uses, including RNA analysis, labelling, sequencing, nicking, and mending, QIAGEN offers specialised enzymes. These applications also include DNA cloning and amplification utilising PCR. QIAGEN offers reagents and reactants that can clean samples prior to moving on to the next stage, which accelerates and increases transcription and amplification.

All QIAGEN enzymes are subjected to stringent quality control and physical purity evaluations and quality control reports include specific activity, unit characterisation assay, measure of protein concentration and tests for contamination.

Benefits of Enzymes

It is worth mentioning that enzymes are crucial to the life sciences for a variety of reasons, including experimentation, measurement, visualisation and manipulation of biological processes. Enzymes are used by molecular biologists to locate, amplify and sequence genes.

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It has been possible for more enzyme creation, more standardised recombinant enzymes and molecular biology reagents because of QIAGEN's recent acquisition of BLIRT, S.A. — a major producer of enzymes in Europe. Through a separate web shop, QIAGEN offers the range, which now has about 60 products but will grow over the next months.

Industry Prospects

Per a report by Grand View Research, the global enzymes market size was valued at $11.47 billion in 2021 and is projected to expand at a CAGR of 6.5% by 2030. The rising demand for food & beverage products is attributed to the increasing consumer awareness related to one’s health and is positively impacting the market growth.

Recent Developments

In April 2023, QIAGEN announced that QIAstat-Dx syndromic testing solution is expected to be available soon for use in Japan with a SARS-CoV-2 Respiratory Panel that can detect more than 20 pathogens from a single patient sample. The availability in Japan is expected in mid-2023 after decisions on reimbursement levels and comes as the next step after the recent granting of IVD approval for the test. The entry into Japan will add to more than 100 countries worldwide

In March 2023, QIAGEN’s QIAxcel Connect has won the prestigious Red Dot award. With this, QIAxcel marks the fourth QIAGEN instrument to receive Red Dot award, highlights strategy of upgrading portfolio to add new features, particularly wireless connectivity. QIAxcel Connect automates analysis of the size and quality of isolated DNA and RNA. It combines ease of use, high capability, flexible throughput and economy in a single instrument.

Price Performance

Shares of the company have lost 1.3% in a year compared with the industry’s fall of 4.3%.

Zacks Rank and Key Picks

QIAGEN carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are Addus Homecare Corporation (ADUS - Free Report) , Merit Medical Systems, Inc. (MMSI - Free Report) and Davita Inc (DVA - Free Report) .

The Zacks Consensus Estimate for Addus Homecare’s 2023 earnings indicates 10.9% year-over-year growth. The Zacks Consensus Estimate for ADUS’s 2023 earnings has moved 0.5% north in the past 30 days.

Addus Homecare has a long-term estimated growth rate of 11.8%. It currently carries a Zacks Rank #2.You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Merit Medical reported a first-quarter 2023 adjusted EPS of 64 cents, beating the Zacks Consensus Estimate by 16.4%. Revenues of $297.6 million surpassed the Zacks Consensus Estimate by 5.9%. It currently carries a Zacks Rank #2.

Merit Medical has a long-term estimated growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 20.2%.

DaVita, carrying a Zacks Rank #2 at present, has a long-term estimated growth rate of 14.6%. DVA’s earnings surpassed estimates in three of the trailing four quarters and missed in one, the average surprise being 17.3%.

DaVita has lost 1.9% compared with the industry’s 18% decline over the past year.

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