Skip to main content
Premium Trial:

Request an Annual Quote

Meridian Bioscience Preliminary Q2 Revenues Up 14 Percent

NEW YORK – Meridian Bioscience announced on Thursday that its preliminary fiscal Q2 revenues are expected to grow about 14 percent year over year.

For the quarter, the company anticipates revenues of about $57 million, up from $50.2 million in the year-ago quarter.

Meridian said it expects revenues from the life science division to reach between $22 million and $23 million, up 32 to 37 percent from $16.7 million in the year-ago quarter. The company expects diagnostics segment revenues to be between $34 million and $35 million, up slightly from $33.5 million in the second quarter of 2019. 

High demand for the company's molecular products, namely its SARS-CoV-2 detection reagents, drove revenue growth in the life science segment, Meridian said in a statement. The company added that it expects increased revenue in the third quarter of 2020 as well, due to the COVID-19 pandemic. Meridian also noted that because many of the company's clinical trial partners have suspended operations during the pandemic, there will likely be delays for its pipeline products, including new tests for the Revogene platform and the launch of the PediaStat system.

Strong sales of respiratory products increased revenues for the diagnostics division, although those sales were offset by lower demand for non-critical care products, the company said. This would be the first quarter of growth for the diagnostics division after five consecutive quarters of decline.

Last month, Meridian's Curian analyzer and Curian HpSA test for Helicobacter pylori received clearance from the US Food and Drug Administration, which the company said it expects to begin shipping in the third quarter of this year. 

Meridian said it is not updating 2020 financial guidance right now, and any changes to the guidance will come during the second quarter earnings call in May.

The company added that Exalenz Bioscience shareholders approved the planned $49 million merger with Meridian on March 31, and that the deal is expected to close before June 30. 

The Scan

Enzyme Involved in Lipid Metabolism Linked to Mutational Signatures

In Nature Genetics, a Wellcome Sanger Institute-led team found that APOBEC1 may contribute to the development of the SBS2 and SBS13 mutational signatures in the small intestine.

Family Genetic Risk Score Linked to Diagnostic Trajectory in Psychiatric Disorders

Researchers in JAMA Psychiatry find ties between high or low family genetic risk scores and diagnostic stability or change in four major psychiatric disorders over time.

Study Questions Existence of Fetal Microbiome

A study appearing in Nature this week suggests that the reported fetal microbiome might be the result of sample contamination.

Fruit Fly Study Explores Gut Microbiome Effects on Circadian Rhythm

With gut microbiome and gene expression experiments, researchers in PNAS see signs that the microbiome contributes to circadian rhythm synchronicity and stability in fruit flies.