BioMérieux H1 Revenues Rise 7 Percent

Original from: Genomeweb

BioMérieux on Wednesday reported sales growth of 7 percent for the first half of 2021 compared to the first half of 2020.

The Marcy l'Etoile, France-based diagnostics firm reported total sales of €1.57 billion ($1.86 billion) for the six-month period ended June 30, 2020, up from €1.48 billion for the first half of 2020. At constant exchange rates and scope of consolidation, the company reported year-over-year revenue growth of approximately 12 percent.

For the first half of the year, its clinical applications sales were up 6 percent at €1.33 billion versus €1.26 billion for the first half of 2020. The firm's industrial applications segment sales increased 12 percent to €244.3 million from €218.8 million.

Within clinical applications, BioMérieux's molecular biology products brought in revenues of €538.3 million in the first half of the year, down 3 percent from €557.3 million in the first half of 2020. Microbiology product sales were €496.4 million versus €460.4 million in H1 2020, an 8 percent increase. Sales of immunoassays rose 23 percent to €240.7 million from €195.0 million in the first half of 2020. Sales for other product lines jumped 22 percent to €54.4 million in H1 2021 from €44.7 million in H1 2020.

For the second quarter, BioMérieux's revenues grew 3 percent year over year, driven in part by a slowdown in molecular biology offset by strong growth of immunoassay sales.

For the three months ended June 30, the company reported €729.6 million in sales compared to €707.4 million in the year-ago period. At constant exchange rates and scope of consolidation, the company reported year-over-year revenue growth of approximately 8 percent.

Sales in clinical applications rose 1 percent on a reported basis to €608.1 million from €601.6 million, while industrial applications also rose 15 percent to €121.5 million from €105.8 million.

Within clinical applications, the microbiology segment grew 19 percent to €249.0 million from €208.7 million, driven mainly by reagents sales and good performance in each geographic area, "confirming an upturn of this segment beyond pre-pandemic levels," the firm said.

Molecular biology segment sales declined 19 percent to €213.9 million from €264.1 million, driven by a decrease in extraction and Argene solutions sales as well as new equipment sales after an extraordinary 2020 baseline, the firm said. This was partially offset by sales of BioFire reagents, which grew 5 percent.

"The strong demand for BioFire respiratory panels outside of US is compensating the softening of the US demand for respiratory panels that was observed in March and then stabilized during the second quarter," the firm noted. Nonrespiratory panels also continued accelerated growth on a global basis. 

The BioFire installed base expanded to more than 20,100 units as of June 30, 2021, compared to 19,500 at March 31, 2021.

Immunoassay business segment sales grew 25 percent to €120.5 million from €96.2 million, which the firm attributed to double-digit growth in reagent sales for COVID-related products, an upturn in routine sales, and a high level of equipment sales.

Sales in the firm's industrial applications business segment, which includes BioFire Defense, grew 15 percent in the quarter to €121.5 million from €105.8 million. 

BioMérieux attributed the increase to growth in the food and pharmaceutical segments as well as double-digit growth in reagents and instruments sales.

Sales for the Americas declined 12 percent to €319.5 million from €364.7 million, with a 16 percent decrease in sales in North America partially offset by a 19 percent increase in Latin America. European sales increased 19 percent to €268.1 million from €225.0 million, and Asia-Pacific sales grew 21 percent to €142.0 million from €117.7 million.

During the quarter, BioMérieux announced that it obtained the CE mark on three dengue immunoassays on the Vidas system. The firm also launched a new MALDI-TOF mass spectrometry identification system called Vitek MS Prime as well as a semi-quantitative Vidas SARS-COV-2 IgG II serology test. BioMérieux also launched Episeq SARS-COV-2, a software solution to support microbiology labs in identification and reporting from raw sequencing data related to SARS-CoV-2 variants.

The firm also announced in the quarter that it will distribute Specific Diagnostics' Reveal Rapid AST system in Europe. 

BioMérieux's net income in the first half of 2021 jumped to €277 million, or €2.33 per share, from €173 million, or €1.46 per share, year over year.

Its R&D expenses fell to €182 million from €203 million in the first half, while its SG&A spending was €380 million for H1 of 2021. The firm did not provide a comparable SG&A figure for 2020.

BioMérieux confirmed its annual guidance of organic sales growth at a neutral to mid-single digit rate.

Source: BioMérieux H1 Revenues Rise 7 Percent