QuidelOrtho Reports Preliminary Q3 Revenues

Original from: Genoemweb

QuidelOrtho on Wednesday reported preliminary third quarter revenues of between $782 million and $785 million. 

The Q3 2022 results mark the first full quarter since Quidel acquired Ortho Clinical Diagnostics for $6 billion and the firms began reporting as a combined company. Pro forma Q3 2021 revenues for QuidelOrtho as a combined company were not provided.

For the three months ended October 2, the San Diego-based firm expects COVID-19 product revenues of $171 million and non-COVID revenue in the range of $611 million to $614 million. 

The COVID-19 product revenue included both shipments of an unanticipated government order and strong retail demand, QuidelOrtho said in a statement.

Douglas Bryant, QuidelOrtho's CEO, said the company showed strong performance in its transfusion medicine business as well as in its Sofia immunoassay business, "which saw portfolio gains on top of increased COVID-19 product revenue."

The labs business also "performed well," Bryant said, despite challenges in China and with global supply chains, adding that the firm made further progress on the ramp-up of its Savanna molecular system. 

QuidelOrtho is scheduled to report its Q3 financial results on November 2.

Source:  Reports Preliminary Q3 Revenues