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financial guidance

With the firm seeing lower profitability in diagnostics, its CEO said it is focusing on improving earnings strength with the Atellica Solution IVD platform.

Exact said it will pay $72 per share for Genomic Health for a total transaction price of $2.8 billion in cash and stock.

LabCorp Diagnostics was down 2.8 percent, while Covance Drug Development was up 8 percent. The firm narrowed its revenue and earnings guidance for the year.

Qiagen reported year-over-year net sales of 1 percent, or 5 percent at constant exchange rates ahead of its planned Q2 earnings release next week.

The lab beat the consensus Wall Street estimate on the top and bottom line, and maintained its revenue and adjusted EPS guidance for full-year 2019.

Danaher's life sciences revenues grew 6 percent, while its diagnostics revenues rose nearly 5 percent, including an increase of more than 20 percent at Cepheid.

The firm said that its molecular diagnostics sales growth in the quarter was negatively impacted by non-governmental organization purchasing patterns in Africa.

Product sales from OEM customers were up 28 percent, while product sales from direct customers and distributors increased 27 percent, and other revenues grew sharply.

The firm said its growth was driven in part by increasing sales volumes of its gastrointestinal PancraGen business and endocrine ThyGeNext/ThyraMir business.

The liquid biopsy firm beat analyst estimates on the top and bottom lines and raised full-year revenue guidance to $145 to $150 million.

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