DiaSorin 2021 Revenues Rise 41 Percent on SARS-CoV-2, Luminex Sales Growth

Original From: Genomeweb

DiaSorin on Wednesday said that its 2021 revenues rose 41 percent year over year. 

For the year ended Dec. 31, 2021, the Saluggia, Italy-based company reported revenues of €1.24 billion ($1.36 billion) compared to €881.3 million in 2020.

On a comparable basis, its 2021 year-over-year revenue growth was 18 percent and full-year revenues excluding COVID 19-related revenues grew 14 percent, the firm said. 

DiaSorin said that its 2021 CLIA-test revenues rose 21 percent year over year to €579.9 million from €478.2 million; ELISA test revenues fell 14 percent year over year to €56.1 million from €65.2 million; molecular test revenues rose 27 percent year over year to €330.8 million from €259.6 million; and instruments sales and other revenues fell 3 percent year over year to €75.8 million from €78.2 million. 

Revenues from SARS-CoV-2 serology and molecular diagnostic tests increased 29 percent, reaching €342.1 million.

DiaSorin completed the acquisition of Luminex last July for $1.8 billion.

The Austin, Texas-based firm contributed €195.0 million to DiaSorin's revenues in 2021 and saw strong performance from its Aries and Verigene molecular diagnostic platforms and Licensed Technologies business, DiaSorin said. 

The Licensed Technologies business grew approximately 20 percent year over year at constant exchange rates, partly offset by a decline in non-automated assay revenues due to lower COVID testing sales versus 2020, the firm added.

Among its 2021 business highlights, DiaSorin said that within immunodiagnostics it expanded its automated CLIA menu by adding 13 new specialty tests and a high routine test. It also expanded the QuantiFeron products portfolio developed in partnership with Qiagen and implemented a project to adopt the MeMed BV test for use on DiaSorin's Liaison analyzers in Europe and the US.

DiaSorin's 2021 R&D expenses rose 38 percent year over year to €70.1 million from €50.8 million, while its full-year SG&A expenses increased 41 percent year over year to €304.6 million from €216.2 million.

The company posted a 2021 net profit of €310.7 million compared to €248.3 million in 2020.

At the end of 2021, DiaSorin had €403.0 million in cash and cash equivalents.

Source: DiaSorin 2021 Revenues Rise 41 Percent on SARS-CoV-2, Luminex Sales Growth