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Meridian Bioscience Reports Fourth Quarter And Full-Year 2012 Operating Results, Declares Regular Cash Dividend, And Reaffirms Fiscal 2013 Guidance

Stocks in this article: VIVO

Looking forward, we believe that we are well-positioned for continued organic growth and operating efficiency. Approximately 950 clinical labs are current customers using our illumigene platform, which now includes three simple molecular tests, C. difficile, for hospital associated infections, Group B strep, a serious pathogen that should be monitored during pregnancy, and our recently FDA cleared Group A strep test to diagnose strep throat disease. While the bulk of these labs are currently using one of our three available assays, more and more are adopting multiple assays. Over 100 are purchasing two assays and several all three assays. During the period, over 80 assays were placed and 50 new customers acquired. Our illumigene platform contributed $23+ million in fiscal 2012, and we foresee significant growth in fiscal 2013 based upon these three tests plus 2-3 additional illumigene tests that are expected to be marketed during the year. Our illumigene Mycoplasma pneumoniae test was submitted for FDA clearance this week, and we expect that our test for Bordetella pertussis (whooping cough) will be submitted mid-year. Our R&D pipeline is excellent and, in addition to the tests above, includes several new rapid immunoassays, as well as two new illumigene tests for common sexually transmitted diseases.

Growth in our Life Science business is expected to be led by our market expansion efforts that bring the Bioline molecular reagents to the industrial diagnostic segment, in addition to emerging global opportunities for our core bulk life science products. We believe that fiscal 2013 operating margins will be positively impacted by the consolidation of facilities that was completed in 2012 as we continue to strive for consistent improvement in efficiency.

Fiscal 2012 was a year of important progress in new product development, manufacturing and quality excellence, and market execution. We expect that fiscal 2013 will be strong.”

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