QIAGEN N.V. (QGEN - Free Report) recently announced a development under its long-standing partnership with In Vitro Diagnostics (IVD) player, DiaSorin on QuantiFERON. This time, the alliance is set to invent an ultra-sensitive diagnostic test for Lyme disease on DiaSorin LIAISON Platforms.
QIAGEN expects multi-site clinical validations for this new system during 2020 Lyme disease season. Regulatory submissions are expected at the end of 2020 in the United States and Europe.
The System at a Glance
QIAGEN’s QuantiFERON test has two components, namely the QuantiFERON sample collection component (with the proprietary assay stimulus/initiation) and QuantiFERON read-out component (this measures the signal).
Per QIAGEN, the QuantiFERON read-out component will be run on DiaSorin’s LIAISON family of fully automated analyzers and both components will be designed for use on these platforms.
Huge Market Potential of this Deal
According to both companies, the latest QuantiFERON Test running on LIASON platform has huge prospects as it will successfully address a significant unmet medical need. Per data, incidence of Lyme disease is growing rapidly. Approximately, 30,000 confirmed cases of Lyme disease per year are reported to the U.S. Centers for Disease Control (CDC). Meanwhile, CDC estimates about 300,000 individuals to be afflicted with Lyme disease annually in the United States.
In Europe, the latest available ECDC data shows roughly 35,000 confirmed cases in 2010. However, considering a 100% spurt in the spread of this disease in Europe over the past decade, this data seems to be significantly underestimated by many experts.
Of late, QIAGEN has been witnessing substantial demand for the QuantiFERON test kit. This test is registered across more than 75 countries in North America, Europe, Asia, Africa and Latin America. QIAGEN expects to exceed $300 million of sales with the QuantiFERON portfolio by 2020. We believe, its relationship with DiaSorin, which has a huge global customer base for LIASON platform, is perfectly strategic and has a financial benefit for its business.
Other Recent QIAGEN-DiaSorin Developments
Earlier, the companies teamed up to offer a fully-automated CE-Marked testing for latent tuberculosis (TB) infection with QuantiFERON-TB Gold Plus Blood Collection Tubes (QFT-Plus BCT) on DiaSorin LIAISON Platforms.
Share Price Performance
QIAGEN has been gaining investor confidence from consistently encouraging results. Over the past six months, the company’s share price has outperformed its industry. The stock has rallied 10.2% versus the industry’s 4.2% decline.
Zacks Rank and Key Picks
QIAGEN currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader medical space are Cerner Corporation (CERN - Free Report) , Penumbra (PEN - Free Report) and Bruker Corporation (BRKR - Free Report) . While Cerner sports a Zacks Rank #1 (Strong Buy), Penumbra and Bruker carry a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank stocks here.
Cerner’s long-term earnings growth rate is expected to be 13.5%.
Penumbra’s long-term earnings growth rate is projected at 21.5%.
Bruker’s long-term earnings growth rate is estimated at 11.7%.
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