Bruker Inks Deal To Distribute Coronavirus Detection Test

By Zacks Investment ResearchStock MarketsMar 25, 2020 10:04PM ET

www.investing.com/analysis/bruker-inks-deal-to-distribute-coronavirus-detection-test-200519268

Bruker Inks Deal To Distribute Coronavirus Detection Test

By Zacks Investment Research | Mar 25, 2020 10:04PM ET

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Bruker Corporation (NASDAQ:BRKR) , through the Bruker-Hain Diagnostics division, inked a distribution deal with Primer Design Ltd (UK), a subsidiary of Novacyt SA, to distribute the CE-IVD-marked genesig real-time PCR coronavirus (COVID-2019) assay.

The deal has come into effect from Mar 25, 2020. Bruker-Hain Diagnostics boasts of a portfolio of DNA/RNA extraction and preparation systems and kits.

The agreement would likely make the company a key player in coronavirus diagnosis.

More about the deal

The genesig real-time PCR Coronavirus (COVID-2019) CE-IVD assay is authorized for use on Bruker-Hain Diagnostics GenoXtract (GXT) automated nucleic acid extraction devices with associated extraction kits. The shipping of the test kits to Spain, France, Germany and the U.K. has already begun.

The genesig assay has been verified for respiratory samples (nasopharyngeal swabs, oropharyngeal swabs, sputum) on commonly available laboratory thermocyclers. The kit includes all necessary reagents to deliver upto 96 results in two hours. The genesig assay has been developed for very high specificity for the 2019-nCoV virus strain that is implicated in COVID-19. The genesig test has CE-IVD clearance and is designed for in-vitro diagnostic use in Europe.

Along with its authorized GXT products for nucleic acid extraction, Bruker is now equipped to offer a solution for the diagnosis of the SARS-CoV-2 virus, the pathogen responsible for COVID-19.

Other Companies Working on Coronavirus Testing

Bio-Rad (NYSE:BIO) , through its Exact Diagnostics portfolio, recently launched a SARS CoV-2 Standard to enable laboratory assay validation of COVID-19 testing.

Quest Diagnostics (NYSE:DGX) recently announced that it is set to launch a COVID-19 test service. The test would facilitate the potential detection of nucleic acid in respiratory specimens of patients, who fulfill CDC's clinical criteria for COVID-19 testing.

LabCorp (NYSE:LH) also recently launched the 2019 Novel coronavirus (COVID-19), NAA test, for doctors and other authorized healthcare providers in the United States. The test diagnoses the presence of the underlying virus that causes COVID-19 and should benefit patients, who meet the current guidelines for the evaluation of the disease.

Price Performance

In the past year, the company’s shares have outperformed the industry. The stock has lost 4.6% compared with the industry’s 23% decline.

Zacks Rank

Bruker currently has a Zacks Rank # 3 (Hold).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here

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Quest Diagnostics Incorporated (DGX): Free Stock Analysis Report

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Bruker Corporation (BRKR): Free Stock Analysis Report

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Zacks Investment Research

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Bruker Inks Deal To Distribute Coronavirus Detection Test

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