Original from: 360DX
BioM¨¦rieux reported on Friday that its second quarter 2023 revenues increased 5 percent driven by strong momentum in microbiology, its BioFire non-respiratory panel, and industrial applications.
For the three months ended June 30, the Marcy l'Etoile, France-based company reported €864.3 million ($937.4 million) in sales compared to €820.9 million in the year-ago period. At constant exchange rates and scope of consolidation, Q2 sales increased 9 percent.
Pierre Boulud, CEO of BioM¨¦rieux, said in a statement that the firm performed well in line with its targets, "illustrating the relevance of our product portfolio to support the fight against infectious diseases and antimicrobial resistance." He added that BioM¨¦rieux has successfully launched several new products that it expects will "reinforce our leadership in the market."
Sales in the firm's clinical applications business unit were up 5 percent to €723.6 million from €687.9 million in the year-ago period, or 9 percent at constant exchange rates.
Within clinical applications, sales in the molecular biology business increased 3 percent in the quarter to €312.6 million from €303.2 million, while sales in immunoassays decreased 2 percent to €91.6 million from €93.9 million. At constant exchange rates, sales in molecular biology and immunoassays increased 6 percent and nearly 3 percent, respectively.
Molecular biology revenues were impacted by strong reagents sales related to volumes and price increases, as well as equipment sales in the Vitek MS Prime and Lab Efficiency WASP ranges.
Revenues within microbiology rose 13 percent, or 18 percent at constant exchange rates, to €309.6 million from €273.2 million in Q2 2022. Sales were driven by a 23 percent increase in sales for BioFire non-respiratory panels, offset by a roughly 5 percent decrease in respiratory panel sales related to the decline of the COVID-19 pandemic.
The BioFire installed base increased by 300 instruments, reaching a total of more than 24,300 units.
Also within clinical applications, revenues within a business division comprising mainly BioFire Defense and research and development-related revenues, declined 44 percent, or 42 percent at constant exchange rates, to €9.8 million from €17.6 million.
Within industrial applications, revenues rose 6 percent, or 10 percent at constant exchange rates, to €140.8 million from €132.9 million, which the firm attributed to sales of equipment, microbiology and molecular reagents, and the impact of price increases.
Sales in North America increased approximately 1 percent, or 3 percent at constant exchange rates, to €369.2 million from €366.4 million, while sales in Latin America increased 14 percent, or 24 percent at constant exchange rates, to €59.3 million from €52.2 million.
Sales in Europe, the Middle East, and Africa rose 6 percent, or 8 percent at constant exchange rates, to €283.1 million from €267.4 million, and sales in the Asia Pacific region increased 13 percent, or 22 percent at constant exchange rates, to €152.8 million from €134.8 million.
In the quarter, BioM¨¦rieux appointed Alexandre M¨¦rieux as executive chairman and Pierre Boulud as CEO. It also appointed Jennifer Zinn as executive VP of clinical operations.
Also in the quarter, BioM¨¦rieux entered into a strategic partnership agreement with Oxford Nanopore Technologies and submitted a 510(k) premarket notification to the US Food and Drug Administration for the Vitek Reveal rapid antimicrobial susceptibility testing system. In May, the firm obtained CLIA waiver for the SpotFire Respiratory Panel mini. In early August, BioM¨¦rieux received an expedited Japanese Pharmaceuticals and Medical Devices Agency approval for the BioFire SpotFire Respiratory Panel and the SpotFire system.
BioM¨¦rieux confirmed its prior full-year 2023 guidance for sales growth, excluding respiratory panels, of 8 percent to 10 percent at constant exchange rates and scope of consolidation. Assuming a slowdown in respiratory panel sales, total sales are expected to increase 4 percent to 6 percent.
