Qiagen reports strong financial results for second quarter of 2017

Qiagen has announced its financial results for the second quarter of 2017, during which it met its targets in terms of net sales and adjusted earnings growth.

The company generated a net sales total of $349 million (266.01 million pounds), representing a year-on-year increase of four percent. All customer classes and regions contributed to this growth.

Its molecular diagnostics business maintained a six percent sales growth pace at constant exchange rates, while applied testing was its best-performing life science division. Among key products, the QuantiFERON latent tuberculosis test delivered particularly dynamic growth, while the QIAsymphony automation system remains on track to exceed its 2017 sales targets.

Other highlights of the quarter included the signing of an agreement with Bristol-Myers Squibb to develop next-generation sequencing solutions for immuno-oncology companion diagnostics, and the recent launch of two new panels for breast and lung cancer analysis.

Peer Schatz, chief executive officer of Qiagen, said: "Qiagen's performance for the second quarter of 2017 further strengthens our confidence in achieving our full-year goals for strong sales growth and a double-digit increase in adjusted earnings per share."

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