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Qiagen Q3 profit down 38% but raises full-year outlook

FILE PHOTO: Health Testing company Qiagen, in Hilden

FRANKFURT (Reuters) - U.S.-German biotechnology company Qiagen NV said on Monday that its third-quarter net profit dropped 38%, but it raised its outlook for the full year.

Profit slumped in the quarter to $82 million from $133 million a year ago.

It said it was raising its outlook due to strong results in the first nine months and the outlook for the full year.

It now expects sales of $2.25 billion, up from a previous outlook for at least $2.2 billion.

Last month, The Wall Street Journal reported that California-based diagnostics company Bio-Rad Laboratories was in talks to merge with Qiagen.

(Reporting by Patricia Weiss; writing by Tom Sims; editing by Chris Reese)