Illumina (ILMN) recently entered into a three-year supply agreement with California-based genetic analysis solutions provider Sequenom (SQNM) for large-scale analysis of genetic variations and functions.
Financial terms of the agreement were not disclosed.
The successful completion of the deal will enable Sequenom and its subsidiaries to develop its non-invasive tests using Illumina's HiSeq sequencing equipments. This test will detect fetal chromosomal abnormalities associated with Down syndrome.
With HiSeq sequencing system technology gaining strength, Illumina recently reduced the price for sequencing whole human genomes through the IGN. The new price has been decided at $5,000 per genome for projects comprising ten samples or more and $4,000 for projects based on fifty samples or more.
Illumina also slashed the price of its individual genome sequencing service (IGS) from $19,500 to $9,500. The company intends to subsidize sequencing for patients with life threatening diseases to enable the physicians to easily access the required information and properly diagnose as well as draw out the treatment plan.
Illumina is a leading player in life science tools and integrated systems for the analysis of genetic variation and function. The company provides sequencing and array-based solutions for genotyping, copy number variation analysis, methylation studies, gene expression profiling, and low-multiplex analysis of DNA, RNA, and protein.
Illumina reported revenues of $282.5 million in the first quarter of fiscal 2011, 47% higher than the year-ago quarter on the back of strong product revenues (up 53.5%), partially offset by a 14.4% decline in service revenues.
The company derives 94.4% of its revenues from products with the rest coming from services. While significant growth in sequencing products and expanded information base of sequencers were key growth drivers in consumables, the growth in instruments was attributed to the success of HiSeq 2000 following its commercial launch in 2010.
ILLUMINA INC (ILMN): Free Stock Analysis Report
Be the first to comment