Qiagen outlines growth targets for 2016

Qiagen has announced its preliminary financial results for 2015 and outlined its key growth targets for the year ahead.

The company's adjusted net sales are estimated to have risen approximately three percent year on year at constant exchange rates (CER), reaching a total of $1.28 billion (886.82 million pounds).

This equated to a nominal decline of five percent and was slightly below the company's target of four percent CER growth, with factors such as volatility in the timing of revenues from its growing portfolio of companion diagnostic partnerships, as well as lower revenues from instruments, affecting the result.

Despite this, the firm was able to exceed its target for new placements of the QIAsymphony automation system, and maintains a positive outlook on its growth prospects for 2016.

Adjusted CER net sales growth of around six percent is predicted for the year ahead, with adjusted earnings per share to grow approximately in line with sales.

Peer Schatz, chief executive officer of Qiagen, said: "Qiagen continues to have a solid outlook for accelerating growth in 2016 based on the progress made on key initiatives during 2015."