NEW YORK (GenomeWeb News) – Gen-Probe reported after the close of the market on Thursday that its overall revenues declined around 5 percent, but its product sales increased 11 percent year over year.
The San Diego-based molecular diagnostics firm brought in revenues of $116.2 million for the three-month period ended March 31, down from $122.6 million for the first quarter of 2008. However, Gen-Probe noted that the Q1 2008 results included the last of three payments to the firm from Bayer related to patent infringement litigation, which had added $16.4 million in revenue.