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The company announced Monday that it has inked a contract to become the primary supplier of products for immunoassay testing to Quest Diagnostics.

China remains a key strategic market for Roche, and it said that it has multiple assays for 2019-nCoV coronavirus for research-use only. 

Revenues for the quarter were $1.93 billion, with the company attributing the growth to expanded access to insurer networks and good operational execution.

While overall revenues and net income were up, analytical instruments revenues decreased 3 percent in Q4, and 2 percent organically.

Roche's overall revenues increased 9 percent, with an 11 percent increase in pharmaceuticals along with the rise in diagnostics revenues.

The company also reported higher expenses, in part due to R&D around its MosaiQ platform for blood grouping and transfusion-transmitted infection screening.

Life Sciences revenues grew 7 percent year over year to $1.92 billion, while Diagnostics revenues were up rose also 7 percent to $1.80 billion.

Within diagnostics, the firm posted molecular diagnostics revenues of $178.5 million, up 9 percent from $164.3 million in fiscal Q1 2019.

The company attributed the revenue decline in part to working capital restraints and long manufacturing lead times, which are being addressed currently.

CEO Prahlad Singh said the firm is developing a PCR- and antibody-based assay for the novel coronavirus 2019-nCoV and is working with the Chinese NMPA.

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