Qiagen meets fiscal expectations during 2016

Qiagen has announced its financial results for 2016, during which it achieved a net sales total of $1.34 billion (1.07 billion pounds).

This represented a year-on-year increase of four percent, or six percent on a constant exchange rate basis. In the fourth quarter, sales rose by eight percent at constant exchange rates to $366.5 million, with figures coming in line with internal expectations.

During the year, the company saw strong results across all customer classes and regions, led by the expansion of the firm's molecular diagnostics business, as well as good performances from the academia, pharma and applied testing categories.

Highlights of the year included the acquisitions of MO BIO and Exiqon, the rise in sales of the QuantiFERON-TB test, and the encouraging traction showed by the GeneReader NGS and QIAsymphony systems.

For 2017, Qiagen has reaffirmed the initial guidance provided in November 2016 for adjusted net sales growth of approximately six to seven percent at constant exchange rates.

Peer Schatz, chief executive officer of Qiagen, said: "We have strengthened our position as a global leader in molecular testing, and we expect to make significant progress in 2017."

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