Between the need to protect food animals from pathogens and the willingness of pet owners to pay top dollar for testing and treatments, the animal health industry represents a huge opportunity for diagnostics makers. In fact, animal-health diagnostics is expected to be a $4.2 billion market by 2018, according to research firm MarketsandMarkets.
Here's some statistical confirmation that awareness campaigns work--and that they can work well. During a three-month push for lung cancer testing in the U.K., primary care doctors referred more than 3,000 extra patients to get tested. About 700 were diagnosed with lung cancer.
Targeted drugs, personalized medicine, stratified therapy--whatever you call it, using biomarkers to identify particular patients for particular drugs has been hailed as a boon for patients and a savvy strategy for pharma.
The star of personalized medicine is just the company you'd expect: Roche, with its drug-plus-diagnostic approach to cancer R&D and its stable of blockbuster HER2-positive therapies, and a total of almost $20 billion in sales from its targeted drugs.
LabCorp is diversifying. The big diagnostics player has swooped in to buy the contract research organization Covance for $6.1 billion in cash and stock, confident that a combination of its expertise with Covance's approach to contract drug development will make for a successful merger.
Veterinary medicine researchers at Kansas State University and scientists at Lawrence Livermore National Laboratory have teamed to advance the development of diagnostic tools used to detect infectious diseases, including porcine-related afflictions.
For the medical diagnostics industry, 2014 is looking like a seesaw in terms of venture investment trends.
Corgenix, in the news recently for its Ebola virus test, will sell itself to a competitor based in Germany for about $16 million. The news comes 5 months after the Denver company revealed it might seek to become an M&A target, in part, to reduce costs and boost efficiency and market reach.
AbbVie's waiting for FDA approval on a hepatitis C combo therapy. OraSure makes a rapid test to detect the virus. And professional truck drivers in the U.S. are more than 5 times as likely as other Americans to have it.
Seventh Sense Biosystems has been quiet these last several months. But now the maker of painless blood collection and diagnostic tech is making some noise, having scored a healthy new round of venture financing.