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MDS Sciex s Revenues Decline 5 Percent in Q3; Parent MDS Writes Off $8M in Protana License Fees

NEW YORK, Sept. 9 (GenomeWeb News) - MDS yesterday reported a 5-percent drop in third-quarter revenue from its analytical instruments business, MDS Sciex.

 

Analytical instruments, which are part of MDS' life sciences businesses, recorded $74 million for the quarter, down from $78 million for the same quarter a year ago. This drop was due mainly to currency effects and weaker sales of ICP/MS mass spec-based products.

 

The company said it achieved "strong performance" from its QTRAP mass spectrometers for biomarker and small molecule analysis. Also, its 4,800 MALDI TOF/TOF mass spectrometer "has been well received by our proteomics and biomarker customers," according to the company.

 

In addition, MDS said it wrote off $8 million of $10 million in license fees this quarter that the company paid for proteomics technology from Protana, formerly MDS Proteomics. "Based on our realigned operational plan for MDS Pharma Services, we have decided to use a different technology, and we do not expect to recover our investment in this license," according to a company statement.

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