In a bid to enhance its Personalized Healthcare diagnostic
) inked three new deals to include multiple biomarkers in its
portfolio. The biomarkers will guide treatment on the basis of
the patient's genomic information.
Per one of the agreements, QIAGEN acquired the rights to RET,
ROS1 and DEPDC1 biomarkers from Insight Genetics Inc., a
Nashville, Tennessee-based molecular diagnostics company. These
biomarkers will find application in companion diagnostics for
lung cancer. The company also invested in Drug Response Dx's
novel companion diagnostic. Currently under developmental stages,
this diagnostic will forecast the efficiency of TNF-alpha
inhibitors in patients suffering from rheumatoid arthritis.
QIAGEN also acquired new tests from Inserm. These test for
mutation of HSP110 gene target diagnostic data on certain types
of colorectal cancer and will complement the companion diagnostic
The agreements underline QIAGEN's effort to expand its
portfolio of biomarkers. The new agreements for these biomarkers
will support the development of new diagnostics to oversee
treatment decisions for rheumatoid arthritis, lung cancer and
colorectal cancer among others. Following the deals, a majority
of the designed assays will be compatible with the QIAsymphony
RGQ modular laboratory workflow automation system as well as the
innovative sequencing workflows of the company. The use of these
biomarkers will optimize use of healthcare resources along with
improved treatment decisions and clinical results.
Given the substantial potential of the molecular diagnostic
market globally, QIAGEN is currently focusing on diagnostics
products for expansion. The company's focus on rheumatoid
arthritis and expansion of the oncology pipeline is a positive
development for its molecular diagnostic segment. QIAGEN
currently derives 48% of its revenues from the segment, which is
likely to increase in the future on the back of such deals.
The growing molecular diagnostic menu is expected to catalyze
growth for the company. Though acquisitions remain an important
part of QIAGEN's strategy, we expect the company's organic growth
to improve in the near future on the back of a solid
We currently have a long-term Neutral recommendation on
QIAGEN. The stock carries a Zacks Rank #2 (Buy). Other companies
in the medical device space worth a look are
Cantel Medical Corp.
), each carrying a Zacks Rank #1 (Strong Buy).
CANTEL MED CORP (CMN): Free Stock Analysis
INTUITIVE SURG (ISRG): Free Stock Analysis
QIAGEN NV (QGEN): Free Stock Analysis Report
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