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BioMerieux 2014 Revenues Increase 7 Percent, Aided by BioFire Acquisition

NEW YORK (GenomeWeb) – BioMérieux today said that its revenues for full-year 2014 rose 7 percent year over year, helped by its BioFire acquisition from a year ago. 

For the 12 months ended Dec. 31, 2014, the Marcy L'Etoile, France-based in vitro diagnostics firm reported total revenues rose to €1.70 billion ($1.90 billion) from €1.59 billion in 2013. 

For the year, BioFire, which BioMérieux acquired in January 2014, contributed a total of €78 million in revenues, leading to a 91 percent increase year over year in molecular biology application revenues. Organically, that business grew about 8 percent, also aided by growth in BioMérieux's Argene real-time PCR assay business. 

The company said that BioFire sales were up more than 60 percent year over year organically led by sales of its FilmArray respiratory panel, particularly in the US. It also noted that BioFire sales increased by about €5 million in 2014 from the combined effect of the seasonal flu outbreak in December, the enterovirus D68 epidemic in the third quarter, and the fast track emergency use authorization in the fall for the BioThreat-E test for detecting Ebola.

BioMérieux also noted that BioFire has filed with the US Food and Drug Administration for clearance of the FilmArray 2.0 system. The system has a higher throughput and would allow laboratories to process up to 175 samples in a day. 

Among BioMérieux's other clinical applications, microbiology revenues were up 1 percent to €802 million in 2014 from €793 million 2013, immunoassays grew 6 percent to €386 million from €364 million, and other revenues were flat at €16 million. 

The company and Illumina announced in November a collaboration to develop applications for microbiology sequencing technologies. BioMérieux also said that it signed a deal with Novartis in October to validate and possibly commercialize the THxID-BRAF assay as a companion diagnostic for certain Novartis compounds in phase III development for patients with BRAF+ melanoma.

Outside of clinical applications, BioFire Defense posted €12 million in revenues in 2014, compared to zero in 2013, and R&D related revenues were flat at €7 million. The company noted that a previously disclosed legal protest action by a competing company regarding a $240 million award provided by the US Department of Defense to BioFire to develop a next-generation diagnostics system was lifted in the fourth quarter of 2014, and work under this award has resumed. 

BioMérieux's industrial application revenues declined almost 1 percent to €327 million from €330 million. 

The company said that on a constant exchange rate, its revenues rose nearly 9 percent year over year in 2014, while organic growth was 4 percent. The recent appreciation of the US dollar against the euro helped limit the negative currency effect to €28 million, it said. 

For the fourth quarter, BioMérieux reported 14 percent revenue growth to €505.7 million from €443.8 million. 

For 2015, it set a goal of organic revenue growth at between 4.5 percent and 6.5 percent at constant exchange rates. BioMérieux said that it anticipates a tight economic environment for the year, but that it expects BioFire to "expand quickly" in the US, led by its FilmArray gastrointestinal panel and respiratory panel.

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