![]() ![]() In the quarter, Bio-Rad completed the acquisition of Warsaw, Poland-based Curiosity Diagnostics - maker of a rapid point-of-care multiplex PCR system called PCR One - for $100 million in cash and up to $70 million in future milestone payments.ĭara Wright, Bio-Rad's executive VP of clinical diagnostics, said on the call that the platform is "pre-commercial" and that there is "still quite a lot of work to do," but she added that the system has "differentiated features" that will make it attractive when it enters the market for syndromic infectious disease testing. Schwartz said Bio-Rad "could acquire and absorb a larger and more transformational opportunity," but that such a merger must be a good "strategic, financial, and operational fit." These include a focus on organic growth, share buyback, and inorganic opportunities. Regarding a rumored merger with "a peer in the industry" - reported to be Qiagen - Norman Schwartz, Bio-Rad's CEO, said that the firm will adhere to capital deployment strategies it laid out during its investor day earlier this year. In terms of whether the order backlog is impacting the win rate for new ddPCR accounts, Last said that sales have demonstrated "customer loyalty to our product offerings." ![]() Ilan Daskal, Bio-Rad's CFO, reiterated that the firm is seeing "a strong order backlog for ddPCR instruments" as it continues to work through the supply chain challenges but added that ddPCR consumables "continue to post strong double-digit growth." In a follow-up email, May noted that Bio-Rad is enacting an intentionally staged product launch for the QX600, making the parts constraint less of an issue and "not in and of itself rate limiting in our minds." That said, "We're very happy with the launch of the QX600 and the initial pipeline that we're building," May added. Simon May, executive VP of the life science business at Bio-Rad, said that the supply chain challenge was felt by the ddPCR business "a little more prominently than some of the other product lines." "As our backlog unwinds, we do expect to capture more of what we've put into our price increases," Last said.īio-Rad launched a six-color ddPCR instrument in the quarter called the QX600. "As the year progressed, has built and we've built inventory," said Last, adding that this is "reflective of our demand waiting on those final components, which procurement is spending a lot of time on chasing."Įxecutives noted that customers are waiting up to several months for orders, and that the firm is seeing elevated logistics costs as it express ships finished products when they are ready.īio-Rad is also currently offsetting inflation and other headwinds through pricing increases, but this does not apply to prior orders. However, the Hercules, California-based firm continues to experience a significant order backlog due to the supply of electronic components limiting instrument production. Overall, Bio-Rad is seeing its business shifting "back to normal" from the pandemic, Chief Operating Officer Andrew Last said. On a call to discuss third quarter results after the close of the market on Thursday, company executives said this has led to a significant order backlog that the firm sees resolving in the coming quarters.īio-Rad also addressed rumors about a potential merger on the call by noting that the firm's objectives for capital deployment include finding the best fit. NEW YORK – Supply chain challenges continue to impact Bio-Rad Laboratories' ability to deliver instruments. This story has been updated to include additional comments from Bio-Rad Laboratories about the QX600 product launch. Advances in Clinical Genomics Profiling. ![]() Any quotation/response should be emailed to contract specialist at by COB, 5PM EST. Information received will normally be considered solely for the purpose of determining whether to conduct a competitive procurement. ![]() A determination by the government not to compete this proposed contract based upon responses to this notice is solely within the discretion of the government. Interested persons may identify their interest and capability to respond to the requirement or submit proposals.This notice of intent is not a request for competitive quotations however, all responses received within three (3) days of the issuance of this notice will be considered by the government. This contract action is for supplies or services for which the Government intends to solicit and negotiate with only one source under the authority of FAR 13.106-1(b) (SAP) and 41 U.S.C. This significantly increases the accuracy and precision of the data, even compared to other digital PCR platforms. Bio-rad’s QX600 Automated Droplet Generator System allows automated droplet generation, partitioning ~20,000 uniform nanoliter droplets with randomly distributed nucleic acid distribution. The Centers for Disease Control and Prevention intends to award a sole source firm fixed price purchase order to BIO-RAD Laboratories. ![]()
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