NEW YORK (360Dx) – BioMérieux said this week that its net income for the year was €179.2 million ($189.1 million), or €4.54 per share, up from €110.3 million, or €2.80 per share in 2015. For 2016, its R&D expenses were down 5 percent year-over-year to €238.9 million from €243.6 million. Its SG&A expenses were €529.2 million, up 4 percent from €510.8 million in 2015.
BioMérieux announced additional 2016 financial results in January.
Alere said this week that it is delaying its 10-K filing with the US Securities and Exchange Commission so that it can review adjustments related to revenue recognition at its Korean and Japanese subsidiaries. The filing stated that Alere’s management recently became aware of information that could impact the timing of certain revenue transactions in 2013, 2014, 2015, and the first three quarters of 2016. As part of this revenue recognition review, the company is reviewing inappropriate conduct at the company’s subsidiary in South Korea called Standard Diagnostics.
Illumina announced the launch this week of the iHope Network, a consortium of member institutions that have committed to providing clinical whole-genome sequencing to underserved families. The iHope Network consists of clinical laboratory members Illumina, Genome.One, Opko Health's GeneDx, HudsonAlpha, and their affiliate healthcare partners.
Through whole-genome sequencing, the iHope Network and its clinical partners aim to end patients' diagnostic odysseys. These odysseys average seven years and include multiple inconclusive tests, surgeries, and procedures, many of which do not result in answers or treatment options for these children and their families, Illumina said.
Healthcare information technology firm NextGxDx said this week that it is now named Concert Genetics. The change is intended to reflect the company's mission of providing data-driven tools to connect, unify, and simplify the world of genetic testing for stakeholders across the healthcare system, the firm said.
Thermo Fisher Scientific announced this week that its board of directors declared a quarterly cash dividend of $0.15 per share to be paid on April 17, 2017.
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