Axis-Shield ups expenditure on point-of-care R&D (Research and Development)
This article was originally published in Clinica
Anglo-Norwegian company Axis-Shield is stepping up its R&D expenditure on point-of-care in vitro testing, with an additional £6m ($9.4m) over two years, on top of normal R&D costs, earmarked for accelerating the development of a low-cost multi-analyte instrument aimed at the doctor's office. The increased expenditure will be recorded in the company's pre-tax loss for the second half, pushing back analysts' profit forecasts. Already in the first half of 2002, the company had increased its R&D expenditure by 28% to £4.2m.