Business
Quidel Provides Business Update at 13th Annual Piper Sandler Med-Tech and Diagnostic California Bus Tour; Another SARS Antigen Entrant Does Not Change Quidel’s Strategy
SAN DIEGO--(BUSINESS WIRE)-- Quidel Corporation (NASDAQ: QDEL) (“Quidel”), a provider of rapid diagnostic testing solutions, cellular-based virology assays
About this update from Quidelortho Corporation
[{"type":"text","content":" SAN DIEGO--(BUSINESS WIRE)--\nQuidel Corporation (NASDAQ: QDEL) (“Quidel”), a provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, announced today the following business update in advance of today’s presentation and investor meetings at the 13th Annual Piper Sandler Med-Tech and Diagnostic California Bus Tour.\n\n\nQuidel Corporation, an industry leader in the introduction of FDA-authorized rapid tests for a wide range of diseases and medical conditions, remains in the forefront of the battle against the COVID-19 pandemic.\n\n\nAbbott’s entry into the SARS antigen testing market was fully anticipated, as was the potential scale of visually read lateral flow assays. The assay performance described in the package insert is unsurprising as well and is very encouraging as it further validates the utility of rapid immunoassay technology in addressing the critical testing needs of our nation. The suggestion of lower product pricing was also expected, given how the Alere BinaxNOW Influenza A+B Card had been previously priced relative to other rapid influenza products, including Sofia Influenza A+B, the premier product and market leader in rapid influenza testing.\n\n\nQuidel’s Sofia has an installed base of over 50,000 Sofia instruments in the United States. The Sofia system has features that customers find attractive, such as an objectively read result, internal controls that ensure testing accuracy, and the Virena® data management system, which provides aggregated, de-identified testing data in near real-time to thousands of hospital systems, urgent care networks and public health officials. These differentiating features are valuable to customers and help to explain the price difference between Sofia assays -- like Influenza A+B, Strep A and RSV – and visually read products.\n\n\n“Another SARS Antigen product from a high-quality company with scale like Abbott is welcome. The validity of rapid antigen testing has been questioned by some, including state public health officials, and together with Abbott, BD and perhaps others, we can begin to change this mindset and to expand the utility and demand for this technology,” said Douglas Bryant, president and CEO Quidel Corporation. “Another entrant into the segment doesn’t change our plans to develop or manufacture any of the pr...