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MarketScreener Homepage  >  Equities  >  Nyse  >  Qiagen    QGEN   NL0012169213

QIAGEN

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QIAGEN : and McKesson Agree to Distribute QIAstat-Dx Syndromic Testing Solution to Smaller Hospitals and Other Select Segments in the United States

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06/19/2019 | 04:03pm EDT

Agreement adds commercial firepower for QIAGEN’s U.S. launch of the next generation platform for syndromic insights initially for respiratory conditions

QIAGEN (NYSE:QGEN; Frankfurt Prime Standard: QIA) today announced an agreement for McKesson Medical-Surgical Inc., an affiliate of McKesson Corporation , a global leader in healthcare supply chain management solutions, to serve as the exclusive distributor of QIAGEN’s QIAstat-Dx syndromic testing solution in the “acute” market segment of U.S. hospitals with 200 beds or less and in other select segments. The agreement also makes McKesson a non-exclusive distributor for future expansion of QIAstat-Dx into the non-acute retail clinics located in U.S. retail pharmacies.

The distribution relationship complements QIAGEN’s sales and marketing focus on the rapidly growing syndromic market in the larger hospitals and clinical laboratories setting, which QIAGEN has been serving with innovative and differentiated solutions for almost two decades. At the same time, the use of syndromic testing is expanding into smaller hospitals, physician offices and retail pharmacy-operated clinics.

The smaller-hospital segment alone is rapidly growing and currently includes one-third of the estimated 6,000 hospitals in the United States. It represents approximately 10% of the current U.S. market for syndromic testing, which is estimated at $650 million annually. U.S. hospitals in the acute market are estimated to run approximately 750 respiratory tests per year on average. QIAGEN estimates the total addressable market for respiratory and related syndromic testing in the acute segment at about 1.5 million tests per year in the United States.

The agreement with McKesson comes after the QIAstat-Dx syndromic testing system received 510(k) clearance from the U.S. Food and Drug Administration along with the multiplex QIAstat-Dx® Respiratory Panel for simultaneous qualitative detection and identification of multiple respiratory viral and bacterial pathogens. This comprehensive respiratory panel detects more than 20 pathogens and is the first test in a deep and broad pipeline of assays planned for QIAstat-Dx in the U.S. that includes the addition of a comprehensive gastrointestinal panel later in 2019.

Please find the full press release here.


© Business Wire 2019
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Financials (USD)
Sales 2019 1 578 M
EBIT 2019 430 M
Net income 2019 210 M
Debt 2019 771 M
Yield 2019 -
P/E ratio 2019 44,8x
P/E ratio 2020 35,0x
EV / Sales2019 6,16x
EV / Sales2020 5,55x
Capitalization 8 952 M
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Average target price 42,23  $
Last Close Price 39,58  $
Spread / Highest target 26,3%
Spread / Average Target 6,70%
Spread / Lowest Target -9,04%
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Peer Michael Schatz Chief Executive Officer & Managing Director
Sven Håkan Björklund Chairman-Supervisory Board
Douglas Liu Senior Vice President-Global Operations
Manuel O. Mendez Senior Vice President-Global Commercial Operations
Roland Sackers Chief Financial Officer & Managing Director
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