Qiagen's QuantiFERON-TB Test Now in China - Analyst Blog
March 21 2014 - 7:43PM
Zacks
Qiagen NV (QGEN) recently announced its plans
to launch QuantiFERON-TB Gold In-Tube in China. The product was
awarded China Food and Drug Administration (CFDA) approval earlier
this year but Qiagen has chosen to commercially launch it on World
TB Day 2014 on Mar 24.
The QuantiFERON-TB Gold In-Tube is a blood test designed to
diagnose the mycobacterium tuberculosis (TB) bacterium in
people (both with latent tuberculosis infection and active
tuberculosis disease).QuantiFERON-TB is being adopted by most
health care providers worldwide as it has demonstrated itself as a
faster, more precise and cost-effective method, at the same time
being user friendly. This next-generation blood test has the
capacity to steadily supplant the century-old tuberculin skin test
(TST) used in screening TB infections.
Qiagen’s QuantiFERON-TB Gold In-Tube is among the five growth
drivers of the company. The product’s sales rose by more than 20%
at Constant Exchange Rate (CER) in 2013 contributing to 6% of total
sales in 2013. Encouraged by the popularity of the product in major
markets like Europe and the U.S., management at Qiagen is set to
capitalize on this opportunity by expanding its geographical
presence. The product launch in China marks a step toward the
attainment of this growth strategy.
China– the world’s second largest market for TB tests, records
tentatively 1 million new active TB cases per year. Per the World
Health Organization (WHO), one-third of the world's population
suffers from latent TB infection. With urbanization on the
rise in China, the incidence and spread of this infection through
transmission is only likely to increase. Having recognized the
potential that China holds in the field of TB testing, Qiagen
expects QuantiFERON-TB Gold In-Tube to witness high adoptability in
the country and meet its sales expectation of over $100 million in
2014.
QuantiFERON-TB Gold In-Tube is also capable of providing
accurate results without being affected by the Bacille
Calmette-Guérin (BCG) vaccinationunlike TST. BCG vaccination is
mandatory for the new-born in certain countries like China. Thus,
this poses another plausible reason why the product has huge market
potential in China.
Currently, Qiagen carries a Zacks Rank #3 (Hold). Some
better-ranked stocks in the broader healthcare sector are
Alexion Pharmaceuticals, Inc. (ALXN),
Alkermes plc (ALKS) and ANI
Pharmaceuticals, Inc. (ANIP). All the three stocks sport a
Zacks Rank #1 (Strong Buy).
ALKERMES INC (ALKS): Free Stock Analysis Report
ALEXION PHARMA (ALXN): Free Stock Analysis Report
ANI PHARMACEUT (ANIP): Free Stock Analysis Report
QIAGEN NV (QGEN): Free Stock Analysis Report
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