Illumina (ILMN) Launches VeriSeq NIPT Solution In Europe

Global leader in the field of DNA sequencing and array-based technologies, Illumina, Inc. (NASDAQ:ILMN) recently announced the launch of a solution pertaining to its noninvasive prenatal testing (NIPT) range in Europe. The product, VeriSeq NIPT solution, is a CE-IVD marked next-generation sequencing (NGS)-based approach to NIPT. The solution helps laboratories provide accurate information on fetal chromosome abnormality in around a day.

This solution helps in providing accurate information on the fetal chromosome status as early as 10 weeks gestation, using a single maternal blood draw. The solution is also claimed to detect chromosomal disorders like Down syndrome, Edwards syndrome, Patau syndrome and some other sex chromosome-related disorders.

Owing to its high sensitivity and specificity, this NGS-based NIPT minimizes the need for complicated invasive testing procedures. The advanced technology will lead to faster and highly sensitive results and minimum test failures.

Further, Illumina claims this procedure to be time friendly in comparison to other alternative methods. With the VeriSeq NIPT, laboratories can process up to 96 samples in approximately one day. Also, it offers rapid workflow and unprecedented automation.

Notably, while launching the solution, the company formed a partnership with CooperGenomics in Europe. CooperGenomics is supposed to use the VeriSeq NIPT protocol to advance its NIPT test offering.
With the growing popularity of NGS-based technology all over the world, we believe the launch of VeriSeq NIPT should strengthen Illumina’s foothold in Europe.

According to Markets and Markets, the NIPT market is anticipated to reach a worth of $2.88 billion by 2021 from $1.35 billion in 2016, at an impressive CAGR of 16.4%. Thus, the company is making efforts to cash in on this booming market.

Recent Developments

Illumina has been in the headlines of late, courtesy of its innovative and strong pipeline. Among the company’s recent product launches, NovaSeq, a brand new architecture designed to be the most powerful sequencer, is worth a mention. The company is also introducing meaningful improvements in both performance and cost per base and is likely to expand the customer base as well.

The company has also launched products like the RUO version of TruSight Tumor 170 or TST 170 which are accelerating the adoption of genomics. TST 170's enrichment-based target panel simultaneously analyzes DNA and RNA and assesses the mutation status of genes commonly associated with solid tumors to provide a deep view of the underlying genetics of cancer.

Zacks Rank & Key Picks

Currently, Illumina carries a Zacks Ranks #3 (Hold). Better-ranked stocks in the broader Medical - Biomedical and Genetics space include Heska Corporation (NASDAQ:HSKA) , Enzo Biochem, Inc. (NYSE:ENZ) and Galapagos NV (NASDAQ:GLPG) . While Heska sports a Zacks Rank #1 (Strong Buy), Enzo Biochem and Galapagos carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Heska gained 246.53% in the last one year, compared with the S&P 500’s gain of 12.54%. The company reported a stellar four-quarter positive average earnings surprise of 291.54%.

Enzo Biochem surged 61.94% in the last one year, compared with the S&P 500’s gain. Its four-quarter average earnings surprise is a positive 39.17%.

Galapagos gained 107.37% in the past one year, surpassing the S&P 500 mark. It posted a trailing four-quarter positive average earnings surprise of 203.27%.

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