Alere reports growth in second quarter of 2010

Alere has published its financial report for the recent fiscal quarter, highlighting its growth over the past three months.

The company, which was formerly known as Inverness Medical Solutions, accrued revenues of $523 million (328.2 million pounds) in the period ending June 30th 2010, up from $438 million in Q2 2009.

This was achieved despite the downturn in sales of influenza products, which made up a far higher proportion of the sales total in the second quarter of last year.

Recent professional diagnostics acquisitions were credited with playing a major part in this business improvement, with Alere having agreed a deal to purchase Standard Diagnostics in recent months.

Ron Zwanziger, chairman and chief executive officer of Alere, said: “I am pleased to report another strong quarter, both from a financial as well as a business development standpoint, highlighted by significant progress in product launches and ongoing product development.”

The company completed its rebranding from Inverness Medical Solutions to Alere last month, stating that the move will help it to create an internationally-renowned brand.