It has been a busy year for Illumina, with deals to expand its product offerings and increase its footprint in growing markets. And the company is counting on new technology to keep up the positive momentum, especially in light of second quarter revenues that missed for the first time in years and stock crashing upon the news.
When Alere CEO Namal Nawana took the reins of the company last year, he pledged he would get things back on track with a series of cost-cutting measures and by focusing on high-performing areas. Nawana seems to be delivering on that promise, as the company recently sold its BBI Diagnostics unit, snatched up a new diagnostics company and grabbed an FDA CLIA waiver for its quick strep test as part of its turnaround plan. Read more >>
Liquid biopsy tests are gaining traction within the industry as a viable alternative to traditional screening methods for cancer. A recent report by financial services firm Cowen & Co. said annual sales for the tools could surpass $10 billion, and study results are also turning up positive data in favor of the tests. Read more >>
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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.
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 will develop a companion diagnostic for Apogenix's lead anticancer candidate under an agreement the two just signed.
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.
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.
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Former Allergan CEO David Pyott and activist investor Bill Ackman called each other plenty of things during last year's months-long Valeant-Allergan takeover battle. But Pyott had a new one during a Senate committee hearing on Thursday.
ResMed increased its focus on sleep disorder devices by acquiring China's Curative Medical for an undisclosed sum, in an attempt to gain a foothold in a fast-growing market.