Thermo Fisher Scientific Inc.TMO , in a bid to broaden the human identification (HID) portfolio, recently announced the buyout of IntegenX Inc. Notably, IntegenX is a developer of rapid DNA platform, for use in law enforcement forensics and forensics applications. However, financial details of the deal have been kept under wraps.
Per the company, IntegenX's RapidHIT platforms, software analysis tools and related consumables highly complement Thermo Fisher's short tandem repeat (STR) chemistries for human identification, along with the qPCR and capillary electrophoresis systems.
We encouragingly note that IntegenX has a widespread presence in 17 countries where it provides assistance to prosecutors and law enforcement applications, and generates forensic DNA profiles from samples in a very short processing time. We believe, the addition of IntegenX's hi-tech platform will aid Thermo Fisher to boost top-line contributions from HID portfolio.
Human Identification Portfolio at a Glance
Thermo Fisher's robust HID portfolio encompasses of DNA quantification kits, PCR amplification kits, Human Identification Professional Services, next-generation sequencing (NGS) solutions, Applied Biosystems products such as QuantiFile Trio, GlobalFiler and Yfiler Plus kits, Applied Biosystems GeneMapper ID-X Software, the Copan NUCLEIC-CARD, and 4N6FLOQSwabs collection systems catering to all kinds of demand in the niche market.
While developing the portfolio, last September, Thermo Fisher announced the receipt of approval from the United States' Federal Bureau of Investigations (FBI), authorizing usage of the company's Applied Biosystems Yfiler Plus PCR Amplification Kit for generating genetic profiles and uploading them on Combined DNA Index System.
Per a MarketsandMarkets report, the global human identification market is anticipated to value $1,740.20 million by 2022, seeing a CAGR of 13.4% between 2017 and 2022. Thus, the latest development has come at the opportune time for the company to cash in on the bountiful opportunities in the high-potential niche market.
Over the past year, Thermo Fisher's shares have outperformed the industry it belongs to. The stock has gained 34.3% compared with the industry's 25.1% rise.
Zacks Rank & Key Picks
Thermo Fisher carries a Zacks Rank #3 (Hold).
Bio-Rad Laboratories sports a Zacks Rank of 1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here. The company has a long-term expected earnings growth rate of 20%.
athenahealth is a Zacks #1 Ranked stock. The company has a long-term expected earnings growth rate of 21.5%.
PerkinElmer has a long-term expected earnings growth rate of 12.3%. The stock carries a Zacks Rank #2 (Buy).
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