NEW YORK – BioMérieux announced on Thursday that its revenues dipped slightly year over year in the third quarter of 2023 but that organic sales increased 7 percent at constant exchange rates, and 10 percent excluding sales of BioFire respiratory panels. The increase was attributed to growth across all business units, particularly a 24 percent increase in sales in non-respiratory syndromic panels in its BioFire business.
BioMérieux CEO Pierre Boulud said in a statement that the "non-respiratory panels kept on growing at a very strong pace while respiratory panels sales were resilient," adding that the microbiology franchise also "performed very well, driven by both volumes and price increases."
For the three months ended Sept. 30, BioMérieux reported revenues of €898.4 million ($948.2 million) compared to €902.0 million a year ago. At constant exchange rates, revenues increased 7 percent for the quarter. The firm also reported that changes in exchange rates had a negative €92 million impact on sales through the first nine months of 2023.
Sales in the molecular biology business unit declined approximately 2 percent as reported to €327.9 million from €333.5 million, or an increase of approximately 6 percent at constant exchange rates.
The increase was driven by a 24 percent growth in sales of BioFire non-respiratory panels, offset by an expected 5 percent decrease in respiratory panels compared to a strong Q3 2022. The increase in non-respiratory panel sales was attributed to cross-selling efforts leveraging the BioFire installed base, which increased to 24,800 units by the end of Q3 2023, compared to 24,300 at the end of Q2 2023.
The firm also reported that the installed base of its SpotFire point-of-care molecular diagnostic instrument reached 375 instruments at the end of Q3. BioMérieux obtained clearance and CLIA waiver from the US Food and Drug Administration for the SpotFire system and a 15-target assay called the BioFire SpotFire Respiratory Panel in February, and obtained 510(k) clearance for a five-target mini panel in April followed by CLIA waiver in May.
In microbiology, sales increased 3 percent, or nearly 11 percent at constant exchange rates, to €321.6 million from €311.8 million. The increase was related to double-digit growth in reagent and instrument sales. Specifically, reagent sales were led by Vitek automated ID/AST and blood culture BACT/Alert product lines, while instrument sales were led by uptake of the Vitek MS Prime system.
The immunoassay business unit saw sales decline 7 percent as reported, or an increase of approximately 1 percent at constant currency, to €94.2 million from €101.4 million. These results were attributed to continued decreases in procalcitonin test sales offset by growth in Vidas system reagent sales.
Other lines in clinical application sales increased 4 percent, or 19 percent at constant exchange rates, to €17.1 million from €16.4 million.
The industrial application business unit saw a sales decline of 1 percent, or an increase of 6 percent at constant exchange rates, to €137.5 million from €139.0 million.
Sales in North America declined 5 percent, or increased 3 percent at constant exchange rates, to €379.6 million from €398.4 million. In Latin America, sales increased 7 percent, or 26 percent at constant exchange rates, to €60.2 million from €56.2 million.
Sales in Europe, the Middle East, and Africa increased 7 percent, or 10 percent at constant exchange rates, to €293.1 million from €274.4 million, while sales in Asia-Pacific declined 4 percent, or 7 percent at constant exchange rates, to €165.5 million from €173.0 million.
In the quarter, BioMérieux submitted a dual 510(k) and CLIA waiver application to the US Food and Drug Administration for a sore throat panel on the SpotFire system. The firm also obtained CE marking for a traumatic brain injury assay. Also in the quarter, BioMérieux made a strategic investment in Oxford Nanopore Technologies.
BioMérieux again confirmed its prior full-year 2023 guidance for organic sales growth of between 4 percent and 6 percent.