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Diagnostic Industry Trends Hinge On Gene-Based Tests

In 2011, sequencing was once again the big story in diagnostics. But unlike 2010 when the big news was the successful IPOs of next-generation sequencing companies Pacific Biosciences and Complete Genomics, the tone in 2011 was more nuanced.

In the 1967 movie classic The Graduate, Dustin Hoffman gets a one-word piece of career-planning advice from a family friend: “plastics.” For diagnostics in 2011, that word would have to be sequencing. But unlike 2010 when the big news was the successful IPOs of next-generation sequencing companies Pacific Biosciences of California Inc. and Complete Genomics Inc., owing to the downturn in government funding and a slow economy, the tone in 2011 was more nuanced. [See Deal][See Deal] (See Also see "Personalized Medicine In 2010: Welcome To The Establishment" - In Vivo, 1 January, 2011..) Share prices of sequencing market leaders Illumina Inc. and Life Technologies Corp. fell roughly 50% and 30%, respectively, in 2011. PacBio dropped more than 80% and Complete Genomics 60%, although the latter did manage to complete a secondary offering at $12.50 in June, more than 4X its current price.

More than a slowdown in instrument placements is affecting these instrument makers, however, and much of that spells good news for gene-based clinical diagnostics. Commoditization and the continuing rapid drop...

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