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Quidel

The firm saw 60 percent revenue growth in molecular diagnostics, including 88 percent growth in its Solana system.

Smaller multiplex molecular panels of five or fewer targets will be covered, while a determination of gastrointestinal panel coverage is expected soon.

The new agreement amends a deal reached in October to partially fund its acquisition of some Alere businesses. That agreement was for $270 million.

Sales were driven by the cardiac testing products acquired last year from Alere and offset a decline in rapid immunoassay sales tied to the flu season.

The test detects and distinguishes pertussis and parapertussis in nasopharyngeal swab samples. It is for use on the Quidel's Solana MDx instrument.

Rapid immunoassay product revenues — including sales from the firm's QuickVue, Sofia, and Eye Health products — rose 40 percent year over year.

The CDC says that the number of people in the US who have been infected with diseases carried by mosquitoes, ticks, and flea bites have more than tripled in recent years.

Using an immunoassay as an initial screening tool saved approximately $36,000 over multiplex PCR panel use alone when performed in a period of high flu prevalence.

The decline matched the struggles of the broader stock market, though bright spots could be found with GenMark, Quidel, and NanoString all having good months.

The investment bank based the upgrade on potential for growth in the installed base of Quidel's immunoassay and molecular instruments, among other factors.

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