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Exclusive Agreement Announced Between Quidel Corporation and Roche Pharma AG
QuickVue(R) Influenza Test and Tamiflu(R) Antiviral Paired to Support 2007/08 German Influenza Season
SAN DIEGO--(BUSINESS WIRE)--Sept. 26, 2007--Quidel Corporation (NASDAQ: QDEL), a leading provider of rapid point-of-care (POC) diagnostic tests, announced today an exclusive partnership to provide Roche Pharma AG with the QuickVue Influenza A+B rapid diagnostic test for its marketing and selling activities along with its Tamiflu (Oseltamivir) antiviral for the 2007 - 2008 influenza season in Germany. The agreement will leverage the strength and speed of the QuickVue rapid test to help characterize influenza infection (the flu) along with the Tamiflu treatment to improve patient recovery time.
"Vaccination, diagnosis and treatment are the three mainstays of combating seasonal flu. This partnership with Roche and Quidel pairs two leading companies committed to promoting excellence in diagnostic testing and treatment for many patients in a wide range of facilities," said Caren Mason, president and CEO of Quidel. "This is a further demonstration of our QVB(TM) (Quidel Value Build) strategy," she continued.
Commented Dr. Hagen Pfundner, Managing Director, Roche Germany, "The partnership with Quidel will aid physicians in their prompt diagnosis of influenza infection leading to better and faster decision making on adequate treatment options including Tamiflu and thus faster relief from flu symptoms."
The flu is a contagious respiratory illness caused by influenza viruses. It can cause mild to severe illness, and at times can lead to death. On average, anywhere between 10-20% of a given population in Germany will get the flu resulting in ten to twenty thousand hospitalizations, costing the German healthcare system approximately 5 Billion Euro. The QuickVue brand Influenza tests, which outsell the nearest competitor 3 to 1 in the United States, offer a quick and convenient method with highly accurate results to aid in the diagnosis of influenza infection which can lead to earlier treatment. Tamiflu, the number one doctor-prescribed influenza flu medicine, is approved for the prevention and treatment of influenza in adults and children aged 1 year and older. A new flu virus comes around every winter, infecting people of all ages and causing lost days from school and work. In the late fall and winter, flu outbreaks can begin suddenly, and can spread quickly through local communities.
About Quidel Corp.
Quidel Corporation serves to enhance the health and well being of people around the globe through the discovery, development, manufacturing and marketing of rapid diagnostic solutions at the point of care (POC) in infectious diseases and reproductive health. Marketed under the leading brand name of QuickVue(R), Quidel's portfolio of products currently includes tests that aid in the diagnosis of several disease or condition states, including influenza, respiratory syncytial virus, Fecal Occult Blood, Strep A, pregnancy, bacterial vaginosis, infectious mononucleosis, H. pylori and Chlamydia. Quidel's products are sold to healthcare professionals with a focus on the physician office lab and acute care markets through leading medical distribution partners on a worldwide basis. Quidel's Specialty Products Group (SPG) develops research products in the fields of oncology and bone health with potential future point-of-care applications. By building value in rapid diagnostic tests, Quidel provides leadership to the industry and among healthcare professionals allowing for the movement of patient testing out of the central laboratory setting and into the physician office, urgent care and other outpatient settings where rapid testing and treatment has an impact on clinical outcomes and provides an economic benefit. For more information, visit www.quidel.com, www.flutest.com, or www.colorectal-test.com.
About Roche and the Roche Diagnostics Division
Headquartered in Basel, Switzerland, Roche is one of the world's leading research-focused healthcare groups in the fields of pharmaceuticals and diagnostics. As the world's biggest biotech company and an innovator of products and services for the early detection, prevention, diagnosis and treatment of diseases, the Group contributes on a broad range of fronts to improving people's health and quality of life. Roche is the world leader in in-vitro diagnostics and drugs for cancer and transplantation, a market leader in virology and active in other major therapeutic areas such as autoimmune diseases, inflammation, metabolism and central nervous system. In 2006 sales by the Pharmaceuticals Division totaled 33.3 billion Swiss francs, and the Diagnostics Division posted sales of 8.7 billion Swiss francs. Roche employs roughly 75,000 worldwide and has R&D agreements and strategic alliances with numerous partners, including majority ownership interests in Genentech and Chugai. Roche's Diagnostics Division offers a uniquely broad product portfolio and supplies a wide array of innovative testing products and services to researchers, physicians, patients, hospitals and laboratories world-wide. For further information, please visit our website at www.roche.com.
This press release contains forward-looking statements within the meaning of the federal securities laws that involve material risk and uncertainties. Many possible events or factors could affect our future financial results and performance, such that our actual results and performance may differ materially. As such, no forward-looking statement can be guaranteed. Differences in operating results may arise as a result of a number of factors including, without limitation, uncertainty with research technology development, seasonality, adverse changes in the competitive and economic conditions in domestic and international markets, actions of our major distributors, manufacturing and production delays or difficulties, adverse actions or delays in product reviews by the U.S. Food and Drug Administration ("FDA"), intellectual property, product liability, environmental or other litigation, and the lower acceptance of our new products than forecast. Forward-looking statements typically are identified by the use of terms such as "may," "will," "should," "might," "expect," "anticipate," "estimate" and similar words, although some forward-looking statements are expressed differently. The risks described under "Risk Factors" in reports and registration statements that we file with the SEC from time to time should be carefully considered. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date of this press release. We undertake no obligation to publicly release the results of any revision or update of the forward-looking statements.
John Radak, Chief Financial Officer
Lippert/Heilshorn & Associates
Don Markley/Bruce Voss
SOURCE: Quidel Corporation