Skip to main content
Premium Trial:

Request an Annual Quote

Inverness Terminates Thermo Fisher Contract to Resell Biosite Products


This story originally ran on Nov. 12.

Inverness Medical Innovations has terminated its contract with Thermo Fisher Scientific for the resale of Inverness' Biosite products.

The disclosure was made this week in a document filed by Thermo Fisher with the US Securities and Exchange Commission. The termination takes effect on July 1, 2010.

Inverness purchased Biosite in 2007. Among the products offered by Biosite are protein biomarker-based tests for congestive heart failure and cardiovascular diseases.

In its SEC filing, Thermo Fisher said that it believes Inverness terminated the contract and decided to sell directly to customers because of Thermo Fisher's recent decision to expand its diagnostic product offerings. Last month it announced it had completed its acquisition of German diagnostics firm BRAHMS for $471 million.

Later in October, it launched its copeptin assay for the diagnosis of acute myocardial infarction. The assay was developed by BRAHMS.

For 2009, Thermo Fisher expects $200 million in revenue from the sale of Biosite products. Because of the termination of the contract, that figure is anticipated to be cut by more than half in 2010, the company said. Sales of Biosite products are expected to be "minimal" in 2011 and beyond.

Thermo Fisher said that it has signed an agreement with another unnamed supplier of diagnostic products and expects $40 million in sales resulting from the agreement, offsetting a portion of the drop in Biosite sales.

The Scan

Cancer Survival Linked to Mutational Burden in Pan-Cancer Analysis

A pan-cancer paper appearing in JCO Precision Oncology suggests tumor mutation patterns provide clues for predicting cancer survival that are independent of other prognostic factors.

Australian Survey Points to Public Support for Genetic Risk Disclosure in Relatives of At-Risk Individuals

A survey in the European Journal of Human Genetics suggests most adult Australians are in favor of finding out if a relative tests positive for a medically actionable genetic variant.

Study Links Evolution of Stony Coral Skeleton to Bicarbonate Transporter Gene

A PNAS paper focuses on a skeleton-related bicarbonate transporter gene introduced to stony coral ancestors by tandem duplication.

Hormone-Based Gene Therapy to Sterilize Domestic Cat

A new paper in Nature Communication suggests that gene therapy could be a safer alternative to spaying domestic cats.