Qiagen reports strong performance in second quarter

Qiagen has published its financial results for the second quarter of 2012, during which it experienced a strong increase in sales.

The company's net sales rose by nine percent year on year to reach a total of $307.2 million (197.67 million pounds), with growth observed across all regions and customer classes.

Molecular diagnostics and applied testing product sales were noted as being particularly robust, while the firm was also able to expand through the acquisition of Cellestis, Ipsogen and AmniSure.

Based on the success of its operations in the first half of 2012, the company has raised its guidance for the whole year, while also announcing its first ever share repurchasing programme.

Peer Schatz, chief executive officer of Qiagen, said: "Our initiative to grow more efficiently and effectively is creating change for the better in all areas of the organisation and we are reallocating resources to maximise value."

This comes after the firm announced last month that it will be allying with SAP as it prepares to launch its first next-generation sequencing technology offering.