Yahoo Finance QIAGEN (QGEN) New Launch to Aid Global TB Elimination Targets
QIAGEN N.V. QGEN recently announced the launch and CE marking of QIAreach QuantiFERON-TB test for tuberculosis (TB) infection. The latest launch is intended to support global TB elimination targets, particularly in high burden, low-resource regions.
The new QIAreach QuantiFERON-TB test was evaluated at the Nagasaki Genbaku Isahaya Hospital, Japan, and the six Zambart project sites (Zambia) and demonstrated to be a novel portable and simple-to-use assay that can be executed with minimal infrastructure for the diagnosis of TB infection.
More on QIAreach QuantiFERON-TB
QIAreach QuantiFERON-TB is based on QIAGEN’s proven QuantiFERON-TB Gold Plus technology. It is a portable device that allows the ultrasensitive digital detection of TB infection with an end-to-end workflow. While the operation is simple and inexpensive, it amplifies access to Interferon Gamma Release Assay (IGRA) testing.
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QuantiFERON-TB uses blood samples to test for interferon-gamma molecules released from T-cells that have come into contact with TB bacteria. QIAreach QuantiFERON-TB runs these tests on the digital eHub and eStick system. Per QIAGEN, it is a true walkaway solution with random access and zero maintenance.
QIAreach QuantiFERON TB testing needs one patient visit. It produces an easy-to-read result in 20 minutes after sample incubation. It can record and send results for enhanced data management, making it ideal for TB screening programs.
Significance of the Launch
Per QIAGEN’s management, QIAreach QuantiFERON-TB is a new way to detect TB infections that can aid to prevent patients, especially those in high-burden countries, from developing the active form of TB. It combines QuantiFERON-TB technology with a very portable and field-friendly digital device to deliver reliable results without requiring complex laboratory infrastructure at an effective cost.
QIAGEN will work with commercial distribution partners as well as the Stop TB Partnership’s Global Drug Facility to ensure affordable access across all high burden, low and middle-income countries. Simultaneously, QIAGEN will continue its close partnership with various international organizations and public health institutions to support drive scale-up through innovative implementation projects.
Recent Developments
In October 2021, QIAGEN announced the receipt of the U.S. Department of Defense (DOD) contract to increase the production capacity for consumables used on its NeuMoDx 96 and 288 integrated PCR testing systems. As the COVID-19 pandemic continues, the receipt of the U.S government contract marks an important step to support laboratory testing. The NeuMoDx platforms provide a unique combination of speed, flexibility, throughput and ease of use for molecular diagnostics testing, including laboratory-developed tests.
In September 2021, QIAGEN announced the commercialization of the new PreAnalytiX PAXgene Saliva Collector -- a non-invasive and painless sample collection method. The PAXgene Saliva Collector is part of a standardized pre-analytical workflow for human saliva collection, stabilization, transportation, and storage through nucleic acid extraction and analyses.
Industry Prospects
Per a report by RESEARCHANDMARKETS, the global market for tuberculosis testing, estimated at $2.40 billion in 2020, is projected to reach $2.80 billion by 2027, at a CAGR of 2.5%. Rising demand for improved and technologically advanced tuberculosis testing procedures and awareness and control programs is driving the market.
Price Performance
Shares of the company have gained 3.9% in a year against the industry’s fall of 6.9%.
Zacks Rank and Other Key Picks
Currently, QIAGEN carries a Zacks Rank #2 (Buy).
A few other similar-ranked stocks from the broader medical space are Alcon Inc ALC, West Pharmaceutical Services, Inc. WST and Henry Schein, Inc. HSIC, each carrying a Zacks Rank #2. You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
Alcon has an estimated long-term earnings growth rate of 18%.
West Pharmaceutical Services has an estimated long-term earnings growth rate of 27%.
Henry Schein has a projected long-term earnings growth rate of 14%.
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