ASD24 Aug 2011 19:33
Commenting on the interim results, Ian Gilham, Chief Executive of Axis-Shield, said:
"There has been a significant uplift in revenues and underlying earnings during the first half of 2011, driven predominantly by the continuing strong penetration of Afinion™ in the high growth point-of-care diagnostics market. We have seen revenue growth in our CRP (C-Reactive Protein) marker on both Afinion™ and NycoCard®, benefiting from a return to a more normal winter flu season in Europe in 2010/11, and our diabetes HbA1c franchise continues to expand across all business divisions, driven by the increasing global incidence of diabetes.
"Our Laboratory Division's homocysteine revenues have gained from the acquisition of the Catch clinical chemistry business and we believe the current small decline in OEM revenues associated with the retirement of older third party analyser systems will be offset by additional business on newer platforms such as Abbott's ARCHITECT® and the immunoassay systems of other partners, leading to a return to revenue growth in 2012. We have also seen good growth in our distribution businesses.
"We are on track to meet our target placements of 2,500-3,000 Afinion™ instruments during 2011 and, with the new panel for lipid/cholesterol testing also on schedule for launch in Europe by the end of the year, we believe we are well-positioned for further expansion of our share of the global in vitro diagnostics market. We are poised to see increasing benefits from the significant investment made in our product portfolio in recent years."