Hologic (NSDQ:HOLX) posted second-quarter results today that trailed the consensus forecast, but the company forecasts a strong third quarter fueled by robust COVID-19 test revenue. The Marlborough, Mass.-based company posted profits of $1.09 billion, or $2.38 per share, on sales of $1.54 billion for the three months ended March 27, 2020. Sales growth in the […]
Genomics/Molecular Diagnostics
Abbott sees a future for at-home diagnostics after COVID-19
Abbott CEO Robert B. Ford has suggested that at-home diagnostics could be here to stay even after the COVID-19 pandemic. Speaking on Abbott’s April 20 earnings call, transcribed by SeekingAlpha, Ford pointed out that the company’s diagnostics sales increased by 115% year-over-year from the first quarter of 2020, with a significant chunk of that made […]
FDA just made pooled COVID testing easier
COVID-19 molecular tests have already been authorized for individual use will have an easier time getting an FDA nod for pooled testing. The FDA said today it will add tests by manufacturers who validated their nasal specimen test for pooling to its list of tests available for use with pooled nasal specimens. This could expand […]
Abbott stock down on mixed bag Q1
Abbott (NYSE:ABT) shares are down today on first-quarter results that were mixed compared to the consensus forecast. The Abbott Park, Ill.–based company posted profits of $1.8 billion, or $1 per share, on sales of $10.5 billion for the three months ended March 31, 2021, more than doubling its bottom-line on sales growth of 35.3%. Adjusted […]
Oncocyte acquires Chronix Biomedical
Oncocyte (NSDQ:OCX) announced today that it completed its acquisition of molecular diagnostics company Chronix Biomedical. Irvine, Calif.-based Oncocyte’s acquisition includes the intellectual property and technology for Chronix’s TheraSure copy number instability (CNI) monitor test for immune therapy monitoring, according to a news release. Oncocyte also gains organ transplant technology and the associated patent portfolio developed […]
Ortho Clinical Diagnostics lands CE mark for high-volume COVID-19 test
Ortho Clinical Diagnostics (NSDQ:OCDX) announced that it received a CE mark for its Vitros SARS-CoV-2 antigen test for COVID-19. European approval follows the Vitros test’s initial launch in October 2020. The CE mark allows for more convenient sample collection and expanded viral transport media, according to a news release. Personnel at hospitals, labs and other […]
DiaSorin to buy Luminex for $1.8B
DiaSorin announced that it agreed to acquire Luminex in an all-cash transaction worth approximately $1.8 billion. Saluggia, Italy-based DiaSorin’s purchase at $37 per share of Luminex represents a 23.1% premium to Luminex shareholders based on the unaffected closing stock price of the company on Feb. 24, 2021, which was the date prior to press rumors […]
FDA issues EUA for single-use, OTC PCR COVID-19 at-home test
Lucira Health announced today that it received FDA emergency use authorization (EUA) for over-the-counter sales of its COVID-19 test kit. Emeryville, Calif.-based Lucira’s PCR molecular test kit, the Lucira Check It kit, is designed to deliver results in 30 minutes or less at home. The authorization covers those with symptoms and those without, and the […]
Hologic to acquire Mobidiag in $795M deal
Hologic (NSDQ:HOLX) announced today that it entered into a definitive agreement to acquire diagnostic developer Mobidiag Oy for $795 million. Finland/France–based Mobidiag develops and markets PCR-based tests for acute care conditions, including gastrointestinal and respiratory infections, antimicrobial resistance management and healthcare-associated infections. Mobidiag’s Amplidiag and Novodiag platforms are automated instruments that deliver rapid turnaround times […]
LumiraDx to start trading on Nasdaq through $5B SPAC deal
CA Healthcare Acquisition Corp.— a special purpose acquisition company — announced today that it entered a merger agreement with LumiraDx that will take the company public. London-based LumiraDx, a point-of-care diagnostics developer, will merge with CAHC with the combination reflecting a value of $5 billion for Lumira’s existing equity, according to a news release. Since […]
Ortho Clinical Diagnostics wins nearly $53.7M BARDA contract for COVID-19 tests
Ortho Clinical Diagnostics (NSDQ:OCDX) announced that it received a $53.7 million government contract for its COVID-19 tests. Raritan, N.J.–based Ortho Clinical Diagnostics was awarded an undefinitized contract set to lead to a $53.7 million contract from the Biomedical Advanced Research and Development Authority (BARDA) as a continuation of the partnership between the two entities, according […]
