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Foundation Medicine trips in Q2 with sluggish test reimbursement

Foundation Medicine has been riding a wave of good fortune this year, striking a deal with diagnostics heavyweight Roche to bolster its industry footprint and accelerate product development. But the company hit a rough patch in Q2, with slower-than-expected reimbursement for its tests and results that missed the Street's expectations.

Johns Hopkins researchers unveil low-cost smartphone test for chlamydia

As the diagnostics industry zeroes in on rapid point-of-care tests, a team of scientists from the Johns Hopkins University is developing an innovative smartphone diagnostic for chlamydia that could improve screening for the disease.

R-Biopharm to develop companion diagnostic for Apogenix's cancer candidate

R-Biopharm will develop a companion diagnostic for Apogenix's lead anticancer candidate under an agreement the two just signed.

Bio-Rad Labs grabs FDA approval for next-gen HIV test

Bio-Rad Laboratories snagged FDA approval for its next-generation HIV Ag-Ab test for early detection of the virus. The Hercules, CA-based company's BioPlex 2200 HIV Ag-Ab assay distinguishes between HIV-1 and HIV-2 markers in human blood samples, making it the first diagnostic approved by the agency that can differentiate the infections.

Valeant to acquire IBSchek to complement its irritable bowel syndrome med

The addition of Commonwealth Laboratories' blood test for irritable bowel syndrome in the U.S. and Canada will help Valeant's drug compete with rival Allergan in that therapeutic arena. The cost of the impending transaction was not disclosed, but it includes sales-based milestone payments in addition to up upfront payment.