IVD Earnings Roundup: Roche's Diabetes Division Takes A Dip; Quest Diagnostics; bioMérieux; Danaher
Roche's diabetes business continues to struggle as third quarter results show sales in the division dipped by 3%, while Quest Diagnostics' bottom line took a hit from special charges. Meanwhile, bioMérieux said third-quarter revenues increased by 7%; Danaher is finalizing its acquisition of Cepheid.
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Roche Diagnostics has exited the insulin pumps segment in India, but the Swiss multinational says it stays focused on the self-monitoring solutions segment for diabetics in a country that has more than 69 million people living with the chronic disease.
Danaher is paying a 54% premium to acquire Cepheid, maker of the fully automated GeneXpert rapid genetic testing system. Cepheid will join Danaher's $5bn Diagnostics segment, which already includes Beckman Coulter, Leica Biosystems and Radiometer. Danaher executives cited Cepheid's large installed base and potential for growth and efficiency improvements as justifications for the deal. At least one analyst believes Danaher may be paying too much.
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