Qiagen Raises Forecast Again And Expands Supervisory Board

Qiagen expects strong sales growth in the current year. And the company is also making an optimistic forecast for the coming year.

Venlo Good business in the corona pandemic makes the biotechnology and genetic diagnostics company Qiagen more optimistic. Sales and profit should develop better in 2020 than last expected. During the corona pandemic, Qiagen rose to become an important supplier of test kits and corresponding devices.

According to a statement on Tuesday 2020, the management of the MDax Group expects sales to grow by 22 percent in currency-adjusted terms compared to the around 1.53 billion dollars achieved in 2019. At 2.13 to 2.14 US dollars per share (around 1.76 euros), at constant exchange rates and before special effects, more profit should now be left over than last announced. For 2021, Qiagen became more precise: The biotech company expects sales growth of 18 to 20 percent with adjusted earnings per share of $ 2.42 to 2.46, both at constant exchange rates.

The Jeffries analyst Peter Welford sees risks for the time after the corona pandemic, although part of the additional sales generated as a result should be retained. It is uncertain whether Qiagen, as an independent company, will also be able to fulfill hopes for future growth without Corona influence. In August, for example, the takeover of Qiagen by the US technology group Thermo Fisher Scientific failed because not enough shareholders had given their approval.

The group announced that it intends to expand the supervisory body from its current six positions. This should complement and expand expertise and experience in the areas of life sciences and diagnostics. No further details were initially given.

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