QIAGEN exceeds expectations in fourth quarter of 2009

QIAGEN has published the breakdown of its financial performance during the fourth quarter of 2009, a period which saw the firm exceed its initial expectations.

The sample and assay specialist’s net sales for the three-month period totalled $289.1 million (184.1 million), a 22 per cent increase compared to its $237.2 million figure from the last quarter of 2008.

These takings were higher than guidance suggested and helped the firm to record growth of 13 per cent across the entire year, which was in line with the higher end of its expectation.

Peer Schatz, QIAGEN’s chief executive officer, hailed the year as a “very successful” period for the company, during which it outpaced the growth of the overall market.

He added: “The solid foundation of innovation-driven, organic growth also allows us to plan for strong growth in 2010 and beyond.”

Earlier this month, the company revealed plans to ally with pharmaceutical company Pfizer on the development of a companion diagnostic test kit for Pfizer’s investigational glioblastoma multiforme vaccine PF-04948568.