Qiagen Reports Q2 Results, Signs Supply Deal with Novartis
Qiagen reported this week a 14 percent year-over-year increase in second-quarter revenues, amid decreased net income.
The Venlo, Netherlands life sciences tools company had $98.6 million in revenues, compared to $86.3 million in the same period of last year. Net income totaled $8.8 million, versus $11.1 million in the second quarter of 2003.
Qiagen said the expenses for the second quarter included relocation and restructuring, as well as charges related to the buyout of the company’s synthetic DNA business unit during the quarter.
R&D expenses increased to $9.3 million, compared to $7.6 million in Q2 2003.
As of June 30, the company had $149.6 million in cash, cash equivalents, and marketable securities, compared to $105.5 million as of December 31, 2003.
Separately this week, Qiagen announced that it has signed a supply agreement with Novartis for consumables related to nucleic acid stabilization, separation, purification and handling, as well as siRNA and instrumentation. The companies did not disclose the financial terms of the agreement.
“We are pleased that Novartis has chosen Qiagen as a global supplier of laboratory goods and services for molecular biology research experiments,” Vincent Sigrist, general manager of Qiagen, said in a statement. “This global supply contract allows Qiagen an even more efficient servicing of this important customer.
Alnylam Takes License to Hybridon VEGF-Related IP
Alnylam Pharmaceuticals has taken an exclusive license to patents and patent applications held by Hybridon related to using RNA interference molecules targeting vascular endothelial growth factor, the companies said this week.
“This additional intellectual property will accelerate and streamline our lead program, which we are pursuing in partnership with Merck, to develop a novel RNAi therapeutic targeted to treat age-related macular degeneration and other ocular diseases,” Vincent Miles, senior vice president of business development at Alnylam, said in a statement.
Specific terms of the licensing arrangement were not disclosed.
SRI Schedules 2nd Annual NAWS Conference for October
The Strategic Research Institute has announced that the second annual Nucleic Acid World Summit has been scheduled for October 4-6 in Boston.
The event will feature three tracks: RNAi and Other Oligonucleotides in Drug Discovery; Nucleic Acid-based Therapeutics: Pre-Clinical and Clinical Development; and Nucleic Acid Related Technologies, said SRI.
Details about the conference can be found at http://www.srinstitute.com/NAWS.