Qiagen meets expectations during Q1 2016

Qiagen has announced its financial results for the first quarter of 2016, during which it generated an adjusted net sales total of $298.4 million (207.14 million pounds).

This represents a two percent year-on-year increase in constant exchange rate terms, or flat growth as reported. The company met its goals for adjusted sales and earnings per share results, while reaffirming its full-year 2016 targets.

Key growth drivers during the quarter included the successful Sample to Insight portfolio, which saw double-digit constant exchange rate growth and providing 35 percent of the company's overall sales.

Strong performers included the QuantiFERON latent tuberculosis test and the QIAsymphony consumables platform, which is on track to achieve more than 1,750 cumulative placements by the end of 2016. The GeneReader NGS System also enjoyed a successful launch.

The company confirmed that its adjusted net sales are expected to rise approximately six percent over the whole year, while also announcing plans for a new $100 million share repurchase programme.

Peer Schatz, chief executive officer of Qiagen, said: "Qiagen remains on track to achieve our 2016 goals for higher adjusted net sales and earnings, and for accelerating growth in the coming years."