GE Healthcare's Q3 Revenues Rise 9 Percent as Earnings Jump 19 Percent
GE Healthcare this week said that third-quarter revenues climbed 9 percent as earnings increased 19 percent.
For the quarter ended Sept. 30, GE Healthcare generated $3.9 billion in revenues, up from $3.6 billion during the same quarter in 2005.
GE Healthcare's earnings for the quarter increased to $700 million from $589 million in the third quarter of 2005.
GE's total revenues for the quarter were $40.9 billion, up from $36.4 billion during the same period last year.
GE did not break out its research and development expenses for the Healthcare segment.
As of Sept. 30, GE reported $59.4 billion in cash and marketable securities.
Drug-Discovery CRO Says HCS Will Gain Momentum
High-content screening “is set to overtake current methods as the preferred technique of generating hits with the greatest interest coming from the oncology sector,” according to a news report.
According to Outsourcing pharma.com, Stephen Hammond, CEO of Scottish Biomedical, a Glasgow based pre-clinical drug-discovery services company, said that HCS' “accuracy and speed of data capture” are “deciding factors when studying cell models.”
Hammond was quoted as saying that at least 50 percent of all drug discovery assays performed now are cell-based, with a major marketing push by outsourcing companies suggesting that cell-based HCS as the way to overcome present hurdles.
“HCS has many advantages over biochemical assays in that there is no need to purify the target which can affect assay sensitivity,” Hammond was quoted as saying.
Hammond also said that HCS has some challenges. “The disadvantages of HCS are primarily assay development, costs and relative complexity,” he was quoted as saying.