NEW YORK – In preliminary second quarter results released Thursday, BioMérieux reported 11 percent organic revenue growth at constant exchange rates.
For the quarter completed June 30, 2020, total revenues for the Marcy l’Étoile, France-based firm are expected to be €707 million ($800.8 million), an approximately 11 percent increase over €643 million in the prior-year quarter.
The results were bolstered by a 62 percent increase in sales for the firm's BioFire FilmArray line. However, lower patient traffic in hospitals and industrial applications for the agri-food sector negatively impacted microbiology and immunoassay product lines, although the firm noted in a statement that these areas improved in the final weeks of the quarter.
The BioFire FilmArray syndromic testing line made "a major contribution" to BioMérieux's overall solid performance, the firm said, with 62 percent growth compared to Q2 of 2019, while other molecular biology product lines related to the COVID-19 pandemic also saw strong demand, the firm said.
In the quarter, BioMérieux issued a €200 million Euro PP bond with a top-tier European institutional investor, the firm said. This private placement comprises 2 tranches: one seven-year €145 million tranche, and one 10-year €55 million tranche, bearing an aggregated annual coupon of 1.61 percent.
BioMérieux's financial results for the quarter and the first half of 2020 will be released on Sept. 2, 2020. Financial objectives for the year remain withdrawn "due to a lack of visibility on all the consequences of the health crisis," the firm said.