) subsidiary, received U.S. Food and Drug Administration (FDA)
approval for its newly-launched IQISH technology in the U.S.
The technology from Dako greatly speeds up the evaluation of
cancer cells to determine suitable treatment. The entire process
now takes just three and a half hours, a great improvement over
the two days it took previously. This allows doctors to start
treatment as soon as
Agilent had acquired the Danish cancer diagnostics company,
Dako, for $2.2 billion (on a debt-free basis) last year. Dako
provides antibodies, scientific instruments and software mainly
to cancer-related diagnostic labs and collaborates with drug
companies for the development of methods to identify patients
likely to benefit from certain therapies.
Dako has collaborated with other pharmaceutical giants such as
Eli Lilly and Co.
) for developing technologies in the field of companion
diagnostics to detect cancer. Thus, with these collaborations and
the FDA approval for its IQISH technology, Agilent's unit may
help the ongoing research in companion diagnostics; thus
improving the diagnostic process as a whole.
Agilent's revenues in the third quarter were flat sequentially
and up 1.9% year over year, short of management's expectations of
a 2-3% sequential increase ($1.77 billion to $1.79 billion). The
newly-added Diagnostics and Genomics segment accounted for 9.0%
of revenues in the last quarter, up 47.2% sequentially.
Currently, Agilent Technologies has a Zacks Rank #3 (Hold).
Another test equipment company,
National Instruments Corp.
), has a Zacks Rank #1, and is thus also worth considering.
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