Qiagen meets goals with strong performance in Q2 2016

Qiagen has announced its financial results for the second quarter of 2016, during which it delivered a net sales total of $334.4 million (254.73 million pounds).

This represents a year-on-year increase of five percent on a reported basis or a six percent rise in constant exchange rate terms, meaning the company remains on target to meet its sales and earnings goals for the full year.

Its Sample to Insight portfolio transformation efforts gained momentum during the quarter thanks to improving trends among customers in the life science and molecular diagnostics sectors, while the acquisition of Exiqon also made a significant contribution.

Strongly-performing brands included the QuantiFERON latent TB test, the QIAsymphony automation platform and the recently-launched GeneReader NGS System.

Qiagen now expects net sales to rise between six and seven percent for the full year on a constant exchange rate basis.

Peer Schatz, chief executive officer of Qiagen, said: "Our increased commitment to return $300 million of capital to shareholders by the end of 2017, including $200 million by early next year, underscores our confidence in achieving our targets and creating greater value."