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Thermo Fisher Scientific

JPM moved to an Overweight rating on both companies from a Not Rated designation assigned during a restriction period as Thermo Fisher's potential acquisition of Qiagen played out.

A letter to users regards inaccurate results due to inadequate sample processing and an issue with interpretive software.

Under the terms of the agreement Thermo Fisher will retain the rights to commercialize the companion test globally and seek regulatory approval.

The commercial labs will also receive testing equipment from Beckman Coulter Life Sciences and Thermo Fisher Scientific including RT-PCR instrumentation.

Qiagen shareholders tendered only 47 percent of the firm's issued and outstanding shares by Monday's deadline, short of the two-thirds minimum needed to complete the deal.

The in vitro diagnostic test runs on the Illumina NovaSeq 6000 instrument and will be performed at Helix's San Diego CLIA-certified laboratory.

On an adjusted basis at constant exchange rates, revenues grew 19 percent year over year, in line with guidance provided by the company in early July.

Cities and start-ups are pushing to incorporate SARS-CoV-2 wastewater monitoring into pandemic responses even as basic science researchers scramble to hammer out methods.

The firm saw revenues grow 10 percent in Q2, in part driven by PCR-based COVID-19 testing, as it increased production capacity to 10 million tests per week.

About $1.3 billion of revenues, or 19 percent, were related to COVID-19 products and services, and life sciences solutions revenues jumped 52 percent.

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