Sales growth surpassing 21% in the Asia-Pacific region helped produce healthy numbers for the French in vitro diagnostics player bioMérieux during the company's 2012 first quarter. Overall net sales also nearly hit the double-digit mark.
As Reuters reported, the company stuck to its guideposts, boosting revenue for the quarter to €363 million ($479 million), representing a 9.3% net increase at constant exchange rates. Actual organic growth hit about 3.1%, according to the company.
Booming sales in China and India helped drive the company's revenue boost, along with a new commercial subsidiary in Malaysia, said Jean-Luc Belingard, bioMérieux chairman and CEO, in a statement. Across the board, the company also credited general solid sales from its "industrial applications" and continued integration of recent acquisitions with driving the numbers. BioMérieux snatched up AES Laboratoire nearly a year ago for €183 million ($241.6 million), and purchased San Diego's AviaraDx for $60 million. Those buys were part of a steady stream of M&A activity for bioMérieux.
Not everything was rosy, however. Demand dipped in Southern Europe, with contracting sales in Greece, Portugal and Spain due to worsening economic conditions. Sales also declined in France as the company pursued consolidation of its clinical laboratories.
The company has steadily rolled out products, including its quicker Vidas UP Salmonella test last June. BioMérieux will hold its annual shareholder meeting May 30.
- here's the Reuters story
- read the release