Qiagen reports strong financial results

Qiagen, a sample and assay technology provider, has released positive financial results for the first quarter of this year.

According to figures released by the organisation, it experienced a 62 per cent growth in revenue over the first three months of 2008, achieving net sales worth $207.1 million (£105.97 million).

Meanwhile, operating income over the period hit $33.0 million (£16.89 million), a rise of 15 per cent compared to the first quarter of 2007.

Commenting on the results, Peer Schatz, Qiagen’s chief executive officer, said: "Qiagen experienced a successful start into 2008.

"We saw strong revenue and net income growth and exciting momentum in our strategic position."

He added that the firm launched 19 new products in the area of sample and assay technologies, as well as managing a "strong pipeline" of new products.

According to statistics cited on the company’s website, Qiagen has developed over 500 consumable products and automated solutions and currently has operations in 30 locations across the globe.