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TheStreet Open House

Quidel's CEO Presents At Goldman Sachs Healthcare Conference (Transcript)

But certainly the seasonality doesn't bother us; it’s the volatility that is a big concern for us. Beginning in 2009, the first step in the process was to bring on board R&D talent, also business development talent. We began creating a pipeline basically from scratch and we focused on a couple of different areas; we focused on a next generation platform to stabilize our presence in the space in which we compete today and then we embarked on molecular diagnostic and the other and I certainly can talk a little bit more about that if you like.

We did effectively three deals if you will. We entered into a collaborative agreement with a company called BioHelix; BioHelix is in the R&D that has now created the world’s first handheld molecular device called AmpliVue and will be launching that first product here in the US in Q4. We also entered into an agreement with Northwestern University who had developed a novel extraction technology that will become the basis for the cartridge that goes into our integrated platform.

And then we also did an acquisition; we spent in early 2010, $130 million on a company called DHI, Diagnostic Hybrids. And the two major things that we got there were R&D synergies they had significant molecular diagnostic and assay development capability and they had an awesome group of scientists who are terrific at characterizing and developing monoclonal antibiotics.

Fast forward to last year, last year was a year in which we finally saw some of the fruits of all that investment. We had four assays cleared here in the United States and to be marketed. Each of those was a 510(k) clearance. And during the period, we also saw a number of technical issues so that in this year, 2012, we should see an acceleration in the topline -- an acceleration in terms of product development and currently we have five assays in clinical trials in the United States and so we expect to see a little bit of productivity gain this year is such that in 2013 we actually see topline acceleration.

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