Connect with us

BIOTECH

Meridian Bioscience, Inc. (NASDAQ:VIVO) Reports Revenues Of $57.3 Million In Q2 2020

Published

on

Meridian Bioscience, Inc. (NASDAQ:VIVO) has posted revenues of $57.3 million in Q2 2020. It is an increase of 14% year-on-year. The life sciences segment has contributed $22.4 million (up 33%) to the revenues by responding early to the COVID-19 pandemic. Meridian’s diagnostic segment contributed revenues of more than $34.9 million (up 4%).

CEO of Meridian, Jack Kenny, said the company has performed very well in Q2. He said its Life Sciences segment has offered extraordinary performance by responding to the coronavirus crisis early. The company’s raw materials are widely used in molecular tests worldwide to find a coronavirus vaccine.

FDA clears HpSA and Curian Analyser

Meridian has received the FDA nod for its HpSA and Curian Analyzer in Q2 2020. HpSA and Curian analyzer expect to contribute revenues soon to the Diagnostic segment, which has delivered outstanding performance during the quarter.

Unprecedented response for Life Science products

Chief Financial Officer of Meridian, Bryan Baldasare said the company has exhibited strong growth despite the ongoing coronavirus crisis. It has received an unprecedented response for its Life Science products. Meridian expects to post better results going forward in 2020.

Collaborates with QuantuMDx

Meridian collaborates with QuantuMDx for its newly introduced SARS-CoV-2 assay for use in laboratories. QuantuMDx benefits from the Lyo-Ready 1-Step RT-qPCR master mix of Meridian for a quick and reproducible assay, stable at ambient temperature. Meridian facilitated the production of several COVID-19 assays since the coronavirus outbreak by establishing partnerships with more than 35 diagnostic companies across the world. The company has expanded its manufacturing facilities to satisfy the burgeoning demand of various customers that comprise QuantuMDx.

Vice President (Global Sales of Life Sciences) of Meridian, Todd Howren said the association with QuantuMDx shows how its master mixes help to expedite the development of assay and improve efficacy and quality of the molecular test. The company is pleased to partner with QuantuMDx in meeting the testing requirements at this difficult juncture.

Vice President (R&D) of QuantuMDx, Colin Toombs said the Lyo-Ready Mix of Meridian is vital for improving sensitivity, performance, and run time needed for the assay. The company expects to continue its association with Meridian for current and future needs.

*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.

FEATURED STORIES

Business3 days ago

Emerald Health Therapeutics Inc. (OTCMKTS:EMHTF) Introduces Pure Sunfarm Products In Manitoba As Its Terminates Facility Agreements

Post Views: 96 Emerald Health Therapeutics Inc. (OTCMKTS:EMHTF) has announced that its cannabis production joint venture Pure Sunfarms has started...

Business4 days ago

Planet 13 Holdings Inc. (OTCMKTS:PLNHF) Signs Purchase Agreement To Acquire 45,000 Sq. ft. Facility In Nevada

Post Views: 189 Planet 13 Holdings Inc. (OTCMKTS:PLNHF) announced the signing of an asset purchase agreement subject to which it...

Business4 days ago

AXIM® Biotechnologies Inc. (OTCMKTS:AXIM) Unveils its NeuCovix™ Test That Can Accurately Classify COVID-19 Neutralization Tests

Post Views: 61 AXIM® Biotechnologies Inc. (OTCMKTS:AXIM) has completed a study focusing on the performance of its NeuCovix™ rapid test...

Business5 days ago

Indus Holdings Inc. (OTCMKTS:INDXF) Terminates Its Pending $20 million Acquisition Agreement Of W Vapes Assets

Post Views: 185 Indus Holdings Inc. (OTCMKTS:INDXF) announced termination of its impending acquisition of W Vapes assets that was announced...

Business5 days ago

1933 Industries Inc. (OTCMKTS:TGIFF) Introduces Pre-roll Joints And Smokable Cannabis Flower In Nevada

Post Views: 165 1933 Industries Inc. (OTCMKTS:TGIFF) announced addition of pre-joint rolls and high-quality smokable flowers to its growing consumer...

Business6 days ago

Cannabis Pharmaceuticals Inc. (OTCMKTS:CNBX) Initiates Expansion Of Its Cannabinoid Diagnostic Platform Tests In Europe

Post Views: 134 Cannabis Pharmaceuticals Inc. (OTCMKTS:CNBX) commenced expansion in the European markets to offer cancer patients tailored cannabinoid treatment...