QIAGEN Reports Preliminary Q3 2019 Results and Announces Measures to Prioritize Resource Allocation

QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) today announced preliminary sales results for the third quarter of 2019 and measures to prioritize resource allocation to the most attractive growth opportunities in its Sample to Insight portfolio, in particular in light of a new orientation for its next-generation sequencing (NGS) activities.

For the third quarter of 2019, QIAGEN currently expects preliminary total net sales growth of about 3% at constant exchange rates (CER) compared to the outlook for about 4-5% CER growth, and mainly due to significantly weaker-than-expected developments in China. Total sales growth was about 6% CER excluding China sales. QIAGEN anticipates adjusted EPS within its outlook for approximately $0.35-0.36 CER. Further information will be provided when QIAGEN plans to report results for the third quarter and first nine months of 2019 on October 30, 2019.

The measures to free up resources comes as QIAGEN announced a new strategic collaboration with Illumina Inc. to advance the use of NGS technologies in clinical decision-making. As a result, QIAGEN has established a new orientation for its NGS-related activities that involves focusing development activities on this collaboration as well as expanding its offering of universal NGS consumables solutions for use with any sequencer. QIAGEN intends to continue supporting customers of the GeneReader NGS System, which is a complete Sample to Insight system for the processing of smaller targeted gene panels, but has now decided to suspend ongoing NGS-related instrument development activities .

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