We also announced in June our initiative to enter select segments in the field of next-generation sequencing. Our aim here is to capitalize on many of the already existing elements that QIAGEN has in place, along with external partners to offer workflows that will expand the use of NGS into clinical research and molecular diagnostics. First products are expected to launch in 2013 and I will provide more insights later in the presentation.
We also announced last night plans to launch a $100 million share repurchase program, the first in the history of QIAGEN. This program is a signal of our conviction in the growth opportunities of QIAGEN and our belief that the current share price does not reflect the company’s potential. As we launch this program, we are maintaining our financial flexibility to take advantage of opportunities in the marketplace while increasing our return on capital and building shareholder value.