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financial results

LabCorp Diagnostics revenues increased 9 percent in Q4, while Covance Drug Development grew revenues 24 percent. 

Savings from the recently passed tax legislation are expected to more than offset headwinds from PAMA legislation, executives said.

Within the centralized and point-of-care solutions business, integrated serum work area solutions drove growth with immunodiagnostics sales rising 13 percent.

Qiagen posted revenues of $396.9 million in Q4 compared to $366.5 million a year ago and beat analysts' estimates on both the top and bottom lines.

The company's full year revenues increased 14 percent over 2016, to $20.92 billion.

In Life Sciences, CEO Thomas Joyce noted a strong performance by Beckman Coulter, while in Diagnostics, he said Cepheid grew 25 percent year over year. 

The company's management has also recommended its shareholders vote against resolutions to remove members of its board at an upcoming shareholder meeting.

Abbott's CEO said it is going to take a couple of years to get product launches and revenue growth that the company wants to see from its acquisition of Alere.

Revenues in PerkinElmer's diagnostics business rose 23 percent in Q4, thanks largely to its acquisition of autoimmune diagnostic testing firm Euroimmun.

The revenue increase was in part driven by higher sales of the company's Primerdesign PCR and Novaprep liquid cytology products in China.

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