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In Brief This Week: Danaher, Trinity Biotech, BGI, and More

NEW YORK (360Dx) – Danaher said that it expects its first quarter adjusted EPS to exceed the high end of its previous guidance. During its Q4 2017 and full-year 2017 earnings announcement in January, the company said that adjusted EPS for Q1 2018 was anticipated to be in the range of $.90 to $.93.

Danaher President and CEO Thomas Joyce said this week that the firm has started the year strongly from a core revenue and margin perspective. He noted particular strength in the Life Sciences and Diagnostics segment, especially at Cepheid, as main drivers for the new guidance.

Separately, Danaher has signed a definitive agreement to acquire genomics consumables firm Integrated DNA Technologies. Upon completion of the deal, expected to happen in mid-2018, IDT will operate as a standalone business in Danaher's Life Sciences segment.

Trinity Biotech said this week that its revenues for the fourth quarter ended Dec. 31, 2017, were $24.6 million, up 4 percent from $23.7 million in Q4 2016.

Q4 2017 point-of care product revenues were $3.8 million, down 5 percent year over year from $4.0 million due to lower HIV product sales in the US. Clinical laboratory revenues grew 5 percent to $20.7 million from $19.7 million.

In Q4 2017, the firm's profit after tax and before once-off charges and non-cash financial income was $900,000 compared to $100,000 in the prior-year quarter. The increase was due to improved operating profit and a larger tax credit arising from recent changes in the US tax code, the firm noted. Unconstrained diluted earnings per share for the quarter was $.077 compared to $.043 in the prior-year quarter, the firm said.

Q4 2017 R&D expenses increased 15 percent to $1.5 million from $1.3m in the prior-year quarter, and SG&A expenses rose 6 percent to $7.6 million from $7.2 million in Q4 2016.

For the full-year 2017, Trinity reported revenues of $99.1 million, down less than 1 percent from $99.6 million in 2016. Point-of care product revenues for the year were $16.8 million, down 1 percent from $16.9 million in the prior year. Lower HIV sales in the US were due to lower public health expenditure, but they were partly offset by an increase in HIV sales in Africa, the firm said. Clinical laboratory revenues for 2017 were $82.4 million, down less than 1 percent from $82.7 million in 2016.

Profit after tax and before the impact of once-off items and non-cash financial income was $2.3 million compared to $3.6 million in 2016. The reduction was due to lower operating profit, partly offset by a lower tax charge, the firm said. Unconstrained diluted EPS was $.257 cents compared to $.29 cents in 2016.

R&D expenses in 2017 were $5.7 million, up 14 percent from $5.0 million in 2016, and SG&A expenses in 2017 were $30.0 million, up 2 percent from $29.5 million in the prior year.

Trinity's CEO Ronan O’Caoimh said in a statement that in the year ahead, the firm will benefit from its return to the Brazilian market, which is expected midway through the year. "From an HIV perspective, we will look to grow revenues with the launch of our new screening assay,” he said.

BGI said this week that it has partnered with the South African Medical Research Council to establish the Cape Town-African Genomics Centre. The partners plan to collaborate in genomics and infectious disease control and prevention, and both their countries have contributed funding and other assets to establish and operate the new center. Separately, BGI and the World Agroforestry Centre in Kenya have started a collaboration on African orphan crops.

Mobidiag said it inked an agreement that would enable it to use Ginolis' production lines to answer the growing needs in molecular diagnostics for routine use and anticipate the production of upcoming Novodiag test cartridges.

Mobidiag's manufacturing system is based on Ginolis’ modular Xanthia automation platform. Its compact and modular design allows for "high quality automation within a small footprint, saving valuable space in the clean-room environment," Mobidiag said. The line is equipped with patented dispensing technology, laser welding, precision assembly, ultrasonic welding, and line confocal imaging used for quality inspection.

Mobiodiag noted that it launched Novodiag, which combines qPCR and microarray technologies, in December 2017. The platform allows direct analysis of a patient sample placed in a disposable cartridge and delivers results in about an hour, and enables faster and more accurate treatment while helping clinicians avoid unnecessary use of antibiotics, the firm said.

It noted that in mid-2018, it plans to release a Novodiag cartridge that's now under development.

Mexico’s Comisión Federal para la Protección contra Riesgos Sanitarios has approved Biomerica’s EZ Detect colorectal cancer screening test for marketing in that country. The company has appointed DNA Biopharma as the exclusive distributor of the test in Mexico. EZ Detect is an at-home test to detect fecal occult blood.

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on the 360Dx site.