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TheStreet Open House

QIAGEN's CEO Discusses 1Q 2012 Results - Earnings Call Transcript

Stocks in this article: QGEN

Important developments in the first quarter of 2012 included the first regulatory clearance of a QIAsymphony component in the United States, the Roto-Gene Q real-time PCR cycler and in China we received approval for the second of three components, in this case, the QIAsymphony SP module.

In terms of adding content, we are preparing for the U.S. approval of the KRAS biomarket tests. FDA decisions are expected during 2012.

And we are improving our efficiency and effectiveness. The efficiency program launched in late 2011 is making good progress and we are now implementing projects that are freeing up resources to reinvest. Also in our press release we announced some organizational leadership changes. Effective July 1, we are creating two business areas; Molecular Diagnostics and Life Sciences. I will touch on this topic later.

Moving to Slide 5, I wanted to show you how we view the various contributors to our performance; Molecular Diagnostics which represented 47% of QIAGEN sales rose 21% on the constant exchange rate basis. We are to invest even more in our rapid growth drivers. These include personalized health care, profiling and QuantiFERON-TB test. These and other products together delivered 37% constant exchange rate growth and represented 29% of our sales.

As I mentioned earlier, we are seeking to maximize the value of our HPV franchise. We had flat sales in the first quarter of 2012, both in the U.S. and globally and this product now represents 18% of net sales globally. In the United States the contribution is fallen to 14% of sales in the first quarter of 2012 compared to 16% in the first quarter of 2011.

Read the rest of this transcript for free on seekingalpha.com

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