Send me real-time posts from this site at my email

FDA Nod for QIAGEN's JAK2 Test Boosts Molecular Diagnostic

QIAGEN's QGEN ipsogen JAK2 RGQ PCR Kit (ipsogen JAK2 assay) received FDA approval for additional use in the diagnosis of all myeloproliferative neoplasms (MPNs). In this cancer group, blood cells in the bone marrow do not mature to become healthy cells.

The FDA clearance now covers two additional types of MPN: essential thrombocythemia and primary myelofibrosis.

Notably, the ipsogen JAK2 assay is available in Europe and other markets. Per management, the assay makes it simple for hematologists and oncologists to follow recommended diagnostic testing algorithms and international guidelines for patients suspected to have MPNs.

The company is consistently trying to enhance the Molecular Diagnostic segment, which was the highest revenue grosser in the last reported quarter. Notably, the segment contributed 49% to total revenues. In this regard, QIAGEN recently announced the signing of a collaboration agreement with DiaSorin. Post collaboration, QIAGEN’s QuantiFERON-TB diagnostic test will be available in DiaSorin’s LIAISON portfolio of fully automated analyzers.

In cancer diagnosis market too the company has made several development in recent times. Last August, QIAGEN partnered with Clinical Genomics to implement the PAXgene Blood ccfDNA Tube sample collection in Clinical Genomics' Colvera colorectal cancer recurrence assay. In June, the company had received a worldwide license for biomarkers to be used in identifying patients who may have benefitted from immune-oncology therapies in cancer treatment. Also, the company collaborated with global biopharmaceutical company, Bristol-Myers Squibb Company BMY for the utilization of next-generation sequencing technology to develop gene expression profiles in the same month.

According to a report by Markets and Markets, the Cancer/Tumor Profiling Market is estimated to reach a value of $8.74 billion by 2022, at a CAGR of 10.7%.

For investors keen on investing in molecular diagnostic space, some of the major players to look forward to are Myriad Genetics MYGN and Genomic Health GHDX.

Wall Street’s Next Amazon

Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.

Click for details >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Bristol-Myers Squibb Company (BMY): Free Stock Analysis Report
Myriad Genetics, Inc. (MYGN): Free Stock Analysis Report
Qiagen N.V. (QGEN): Free Stock Analysis Report
Genomic Health, Inc. (GHDX): Free Stock Analysis Report
To read this article on click here.
Zacks Investment Research

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue