Of late, QIAGEN N.V. QGEN announced its new development under the company’s long-standing partnership with In Vitro Diagnostics (IVD) player DiaSorin. This time, the companies’ alliance is set 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.
QIAGEN expects this highly advanced system to be launched during 2019 in the United States and in 2020 across China. Laboratories will now be able to process this fourth-generation modern gold standard QFT-Plus BCT for latent TB test with DiaSorin’s flexible and efficient LIAISON equipment.
According to both companies, the latest LIAISON QuantiFERON-TB Plus Test will help address the increasing conversion of global latent TB testing market into the more modernized blood-based QuantiFERON technology. To LIAISON customers, this comes as a competent, high-throughput detection offer with QFT-Plus as part of the sophisticated procedure’s broad content menu. Meanwhile QFT-Plus clients will gain an option for full automation of laboratory handling to support TB control efforts.
We expect this joint endeavor with DiaSorin to bring about significant business prospects for QIAGEN considering that already more than 7,000 LIAISON systems have been placed worldwide, primarily in hospital laboratories.
Notably, apart from the DiaSorin association, QIAGEN recently partnered with Hamilton Robotics to further improve the automation of QuantiFERON-TB Gold Plus through the integration of Hamilton’s MicrolabSTAR automated liquid handling workstation into the QFT-Plus assay workflow. Per QIAGEN, this pre-analytical automation solution can be potentially combined with DiaSorin’s instrumentation.
Other QIAGEN-DiaSorin Developments
In January, QIAGEN announced signing a collaboration agreement with DiaSorin. Post the same, QIAGEN’s QuantiFERON-TB diagnostic test will be available in DiaSorin’s LIAISON portfolio of fully automated analyzers.
Last June, the two entities had partnered to develop new tests based on a review and selection process involving QIAGEN’s assay technologies tests for DiaSorin’s LIAISON family of analyzers.
QIAGEN has been witnessing substantial demand for the QuantiFERON-TB Gold Plus test kit. This test isregistered 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. The company believes that its relationship with DiaSorin is perfectly strategic and has financial benefit for its business.
Also, per a Morbidity and Mortality Weekly Report (MMWR) published by Centers for Disease Control and Prevention, altogether 9,287 new TB cases were diagnosed all over the United States in 2016. And if the Research and Markets data published on Business Wire is anything to go by, the TB market will then possibly see a CAGR of 4.3-4.8% between 2016 and 2022. In this regard, the company can be able to cash in on the opportunities in the TB market, banking on such a partnership.
Share Price Performance
QIAGEN has been gaining investor confidence on consistently encouraging results. Over the past six months, the company’s share price has outperformed the industry. The stock has gained 11.4% versus the industry’s 4.8% decline.
Zacks Rank and Key Picks
QIAGEN carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader medical space are Intuitive Surgical ISRG, Amedisys, Inc. AMED and Masimo Corporation MASI.
Intuitive Surgical’s expected long-term earnings growth rate is 14.7%. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Amedisys’ expected long-term earnings growth rate is 18.6%. The stock has a Zacks Rank of 1 at the moment.
Masimo’s expected long-term earnings growth rate is 14.8%. The stock carries a Zacks Rank #2 (Buy) at present.
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