QIAGEN MARSEILLE (Alternext - FR0010626028 - ALIPS) REPORTS FY 2012 REVENUES OF 13.2 M€
PR Newswire/Les Echos/
QIAGEN MARSEILLE REPORTS FY 2012 REVENUES OF 13.2 MEUR
Dynamic sales growth: +39% (+34% at constant exchange rate) with a growth of
+40% for kits'sales Marseille, February 8th , 2013 - QIAGEN Marseille, subsidiary of the QIAGEN Group, previously IPSOGEN (Alternext - FR0010626028 - ALIPS), a cancer profiler that develops, manufactures and markets molecular diagnostic tests for leukemia and cancer, today announces its consolidated revenues for the fiscal year 2012. Total revenue for the year ended December 31st, 2012 reached 13.2 MEUR, compared with 9.5 MEUR in 2011, an increase of +39% over last year (+34% at constant foreign exchange rate). Var. n/n-1
Dec. 31st Dec. 31st At constant En EUR000s* 2012 2011 Var. n/n-1 exchange rate
Consolidated revenues 13,226 9,503 39% 34%
o/w Products 10,224 7,299 40% 36% o/w Licenses 2,819 2,125 33% 22% o/w Services 184 79 131% 131% * IFRS rules > Products revenues: dynamic growth of diagnostic kits Sales of diagnostic kits represented 77% of total sales for 2012, stable compared to 2011. This business unit showed the strongest growth with a +40% in FY sales (+36% at constant foreign exchange rate). This growth is mainly due to: - BCR-ABL IS-MMR kit is still a success and the overall BCR-ABL kits represent 26% of the Company's total revenue with an increase of +48% compared to 2011 (+43% at foreign constant exchange rate). - The JAK2 biomarker remains the flagship product of the Company and the JAK2 kits contribute to 29% of the total revenue in 2012 (31% contribution in 2011). - The implementation of a new distribution system through a Distribution Agreement concluded between QIAGEN Marseille S.A. and QIAGEN N.V., approved by the Shareholders General Meeting held November, 14th 2012,
led to an exceptional sale of kits of 493 KEUR in December 2012.
North America market showed a +49% growth (+37% at constant foreign exchange rate) whereas Europe and the Rest of the World have registered an assay sales growth of +34% compared to 2011 (+24% restated from the sale to QIAGEN Group).
> Licenses revenue
Licenses revenues has increased by +33% compared to 2011 (+22% at constant exchange rate). The transaction with QIAGEN Group generated a complementary revenue on royalties of 359 KEUR.
> Services revenue
Services revenue, representing 1% of the Company's total revenue, more than doubled over the year, due to services invoiced to QIAGEN for 134 KEUR.
> An enhanced international positioning
In 2012, the Company has pursued its international expansion outside the Europe and United States areas, recording a +70% growth in Asia. Europe is the first market, representing 48% of the consolidated revenues in 2012.
Starting January, 1st 2013, the Company will benefit from from the strong position of the QIAGEN Group on the market in human health diagnostics and its global sales network.
> Development in solid tumors
In line with its strategy to strengthen its patent portfolio, the Company has acquired end 2012 exclusive and international rights from Inserm Transfert on HSP1 10 mutations.
Detection of HSP1 10 mutations will enable physicians to identify so-called Microsatellite Instability (MSI), a genetic abnormality which occurs in around 15% of all Colorectal Cancers (CRC). MSI arises as a result of defective Mismatch Repair (MMR(1)) caused by the failure of one of the four main MMR genes, MSH2, MLH1, MSH6, or PMS2. MSI patients have a more favorable outcome and a different response to chemotherapeutic agents. Moreover, approx. one third of these MSI CRC cases correspond to Lynch syndrome, an inherited form of CRC for which making an accurate diagnosis is important since they have a higher risk of developing a second cancer.
(1) The MMR system repairs base mismatches after DNA replication, inhibits recombination between nonidentical DNA sequences and provokes apoptotic responses following certain types of DNA damage.
A. Duval and colleagues from Inserm have recently reported in Nature Medicine(2) that a previously unknown mutation in the gene encoding the heat-shock protein (HSP)110 chaperone is associated with increased survival and a better treatment response in MSI CRC. HSP110 promotes the survival of malignant cells by protecting oncogenic proteins from degradation and suppressing apoptosis. Based on these findings, QIAGEN Marseille aims at developing molecular assays that could be used by diagnostic laboratories in their routine practice. The Company has acquired from Personal Genome Diagnostics Inc. exclusive rights for two new biomarkers - mutations of the IDH1 and IDH2 genes - which play a role in brain cancers, acute myelogenous leukemia (AML) and others malignancies. Gliomas account for more than 80% of primary central nervous system malignancies.
> Development in leukemia
Key development projects such as the submission of our JAK2 kit at the FDA are conducted in close collaboration with QIAGEN and progressing as planned. QIAGEN Marseille started the same process for the BCR-ABL kit and discussions with the FDA started.
The submission project of these same tests in Japan, driven with the Company SYSMEX, is in line with the planned schedule.
> Development in breast cancer
QIAGEN Marseille pursues the clinical validation of the GGI breast cancer test on a wide range of clinical samples with the aim of strengthening the medical value of the test in a very competitive environment.
January, 1st 2013, the Company has sold its subsidiary IPSOGEN Inc. to QIAGEN Inc. for a global amount of 3.7 MUSD.
Since January, 1st 2013, QIAGEN Marseille benefits from the QIAGEN Group distribution network, including direct coverage in 28 countries (including the United States of America) and an established network of distributors in 70 other countries. This agreement has been submitted for approval to the Shareholder's General Meeting last November, 14th 2012, and will enable the Company to benefit from the strong position of the QIAGEN Group on the market in human health diagnostics and from its global sales network.
QIAGEN Marseille thus significantly strengthens its business footprint and its products positioning, being included in a comprehensive offer, both for indications and for integration into a range of automation solutions, which perfectly matches the needs of existing and future customers.
(2) Expression of a mutant HSP110 sensitizes colorectal cancer cells to chemotherapy and improves disease prognosis. Nat Med. 2011 Sep 25; 17(10):1283-9.
This agreement also includes guarantees in terms of revenues, prices and sales resources. It will enable the Company to have a high visibility on its revenues over the next three years. As QIAGEN will bear the marketing and sales costs, the 2013 result will benefit from lower marketing and sales costs.
For 2013, given a transfer price lower than the final customer price list of QIAGEN Marseille products, the Company anticipates a negative impact of revenues. This anticipated decrease also reflects the incidence of revenues generated in December, 2012 by the implementation of the Distribution agreement and, especially other ancillary agreements(3) that were also signed to strengthen synergies between the Company and the QIAGEN Group. In 2012, revenues from these agreements represented 8% of the consolidated revenue.
Vincent Fert, Chief Executive Officer of QIAGEN Marseille, concludes: "2012 shows an exceptional growth of our sales, impacted from revenues linked to the implementation of Distribution and Collaboration agreements with QIAGEN. Our integration within the QIAGEN group is on track. We contribute to QIAGEN with a unique expertise in the field of oncohematology molecular diagnostic and soon in some solid tumors. In return, our main shareholder has given us access to its commercial strength, its instrumentation, and its know-how in the field of companion test for personalized medicine".
About QIAGEN Marseille
QIAGEN Marseille develops molecular diagnostic tests designed to map diseases in order to guide patients and oncologists' decisions along their complex therapeutic path.
With more than 80 tests already used routinely worldwide for the diagnosis, prognosis and followup of thousands of patients with blood cancer, QIAGEN Marseille is also developing diagnostic tools targeting other cancers. Its goal is to provide information, remaining unavailable until now, to sustain the development of personalized medicine.
Founded as IPSOGEN in 1999, the Company is, since July 2011, a subsidiary of the QIAGEN Group, the leading global provider of sample and assay technologies.
From January 1st 2013, IPSOGEN has changed its company name to QIAGEN Marseille. The Company, located in Marseille, France, employed 74 people as of December 31st, 2012.
Further information can be found at www.qiagenmarseille.com
(3) Agreements entitled "Collaboration Agreement", "JAK2 License Agreement", "Business Finders Agreement" and "Service Agreement"
The content and accuracy of news releases published on this site and/or distributed by PR Newswire or its partners are the sole responsibility of the originating company or organisation. Whilst every effort is made to ensure the accuracy of our services, such releases are not actively monitored or reviewed by PR Newswire or its partners and under no circumstances shall PR Newswire or its partners be liable for any loss or damage resulting from the use of such information. All information should be checked prior to publication.
-0- Feb/08/2013 08:51 GMT