Close Menu

Meridian Bioscience

The firm's diagnostics revenues decreased 9 percent to $33.4 million, and life sciences revenues increased 7 percent to $17.4 million.

The index, which slightly underperformed the Dow Jones, had a smaller loss in August than in the previous month.

The firm aims to stabilize and protect its existing molecular diagnostics business over the next 12 to 18 months, CEO Jack Kenny said.

Within the company's diagnostics segment, revenues for molecular assays in particular declined 21 percent year over year.

The company drew $49 from the credit facility to repay an earlier outstanding loan and expects to draw another $27 million to, in part, pay for its acquisition of GenePOC.

The test is the fourth assay on the firm's Revogene system and it detects five common genetic causes of drug resistance.

Cincinnati, Ohio-based Meridian will acquire Quebec City-based GenePOC for $120 million, and hopes to quickly convert customers to a PCR-based instrument.

The index, which underperformed the Dow Jones and the Nasdaq, fell nearly 3 percent in April.

The firm will acquire GenePOC for $50 million with potential for milestone payments of an addition $70 million by Meridian's fiscal 2023.

Pages

ScienceInsider reports that rude and unprofessional paper reviewers are common and can have harmful effects.

The US Senate has confirmed Stephen Hahn as the next commissioner of the Food and Drug Administration, according to the New York Times.

CNBC reports Apple is partnering with Color Genomics to offer its employees free DNA screening for disease.

In Science this week: researchers use CRISPR tool to find gut microbiome molecules involved in immunity, and more.