Corning (GLW) - Get Report has always been where the action is and today is no different. The global technology company announced today at the 12th annual Genome Sequencing and Analysis Conference in Miami that it will enter the high-profile genomics market by producing microarrays at an advanced rate.
Microarrays allow scientists to monitor gene expression on a genomic scale and play a vital role in the discovery of new drugs. Corning said it will begin developing microarrays for gene analysis at a level 10 to 20 times faster than current conventional methods.
Corning's entry into the genomics field is no surprise as the company has a history of entering high-growth sectors, including advanced materials, surface technologies and fiber optics. Corning believes the DNA microarray field will grow from a $250 million business today to $1 billion by 2005.
Shares of GLW were recently up $4, or 1.35%, to $300.