Gen-Probe Reports Financial Results for Second Qu...(ly automated TIGRIS(R) system. Revenue ...),Health

Date:7/30/2009

ly automated TIGRIS(R) system. Revenue from the PACE(R) product line, the Company's non-amplified tests for the same microorganisms, declined in the second quarter compared to the prior year period, in line with Gen-Probe's expectations. Clinical diagnostics sales were negatively affected by the stronger U.S. dollar, which reduced growth by an estimated 2% compared to the prior year period.

In blood screening, product sales in the second quarter of 2009 were negatively affected by $8.8 million of lower product shipments to the Company's commercial partner, Novartis Diagnostics. This reduction resulted primarily from: lower West Nile virus assay shipments due to previously discussed ordering patterns; lower U.S. shipments of the PROCLEIX ULTRIO assay due to the post-marketing study that was underway in the prior year period; and lower U.S. shipments of the PROCLEIX HIV-1/HCV assay as customers prepared to adopt the PROCLEIX ULTRIO assay. Blood screening sales growth also was negatively affected by the stronger U.S. dollar, which reduced growth by an estimated 6%, and by a one-time payment of $2.6 million in the prior year period related to historical revenue adjustments made in the Novartis collaboration.

"Blood screening sales were lower than expected in the second quarter, as ordering patterns that were more negative than forecast outweighed a low-single-digit percentage increase in underlying donations tested and stable market shares," Mr. Hull said.

Sales of research products and services in the second quarter of 2009 were $3.2 million. These sales, which were associated with the Tepnel acquisition, were not included in Gen-Probe's prior year results.

Second quarter product sales were, in millions:

                   Three Months Ended June 30,        Change
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SOURCE  Gen-Probe Incorporated
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