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Qiagen In Crisis, Previews Poor Q3 Sales; Long-Term CEO Steps Down

 
• By Catherine Longworth

Qiagen shares took a hit following a series of negative announcements, including lower than expected results for Q3 2019 and the departure of long-term CEO Peer Schatz. The company said it had been affected by poor sales growth in China.

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• Source: shutterstock.com

The future of Qiagen NV has catapulted into uncertainty following a flurry of negative announcements. The company previewed lower-than-expected third-quarter revenue late on 7 October, stating it would reach only 3% growth, missing its 4% to 5% projection. Qiagen said the revenue shortfall is related to continued troubles in the Chinese market.

Although growth remained strong outside of China, Qiagen’s failure to deliver sales in China spooked the stock market, with company shares tumbling 17% off the back of the results and...

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• By Marion Webb

Mirvie launched Encompass, a blood test to help identify women over age 35 who are at moderate risk for preeclampsia, and will conduct additional studies to support reimbursements from payers.