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Abbott

While Abbott continues to express concerns about the pending acquisition, Alere has remained resolute in its response.   

The firm also reported that it has corrected immaterial errors in previous financial statements.

Abbott's MDx sales were driven by continued strong growth in its infectious disease testing business but were partly offset by the planned scale down of its genetics business.

The release clarifies issues related to the timing of revenue recognition for transactions outside the US.

Following a partial response to Abbott's request to audit its books, Alere said it is confident the transaction will be completed.

Alere also said that some of its creditors have agreed to waive defaults arising from its delay in filing its 2015 earnings report, though others have already filed default notices.

The company said its financial plan contemplates the acquisition of both St. Jude and Alere, which is under investigation for its foreign business practices.

Abbott reported Diagnostics sales of $1.12 billion, up 2 percent on a reported basis and 7 percent excluding foreign currency effects.

Abbott Molecular has been building a PCR-based system from the ground up and plans to sell it in parallel with the m2000, eventually replacing that system.

NEW YORK (GenomeWeb) — Researchers at Johns Hopkins University have performed the first validation of the Cepheid Xpert Flu assay in a population of emergency room patients with acute undifferentiated respiratory illness.

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