Award Recognizes Growth to 60% Market Share in Rapid Flu Tests
PALO ALTO, Calif., Oct. 6 /PRNewswire/ -- Frost & Sullivan's recent analysis, US Rapid Microbiology Tests Markets, selected Quidel Corporation (NASDAQ:QDEL) as the recipient of the 2005 Growth Strategy Leadership Award in the point of care (POC) diagnostic tests market. Frost & Sullivan will present Quidel with this Award at the annual Excellence in Pharmaceuticals and Life Sciences Awards Banquet held in Miami. The Award, unveiled in Frost & Sullivan's recent analysis, U.S. Rapid Microbiology Test Markets, is a result of Quidel's proven growth, technological innovation and leadership.
"We are honored to receive this Award, as it underscores our assurance protocol, the Quidel Value Build (QVB(TM)), which is to provide clinicians with point of care (POC) tests that demonstrate improved patient outcomes, faster results and a quantifiable return on investment," said Caren Mason, president and CEO of Quidel. "Quidel Value Build will continue to drive our product development and clinical research efforts." According to Healthcare Products Information Services' (HPIS) data, upon which Frost & Sullivan's analysis was based, Quidel increased its market share of POC influenza tests by 11 percentage points in 2004 up to 60 percent. Additionally, Quidel outsold its competitors in the physician office lab setting for influenza and Strep A tests by 3 to 1, and in hCG tests by 2 to 1.
The Award also recognized Quidel's leadership in advancing the innovative Layered Thin Film (LTF(TM)) technology. The platform technology has shown the ability to accommodate multiple tests on a single device. Two tests, both in the area of infectious vaginitis, are currently marketed under the QuickVue Advance(R) brand. According to a 2005 brand awareness study, the QuickVue(R) Influenza and Strep A brands were ranked number one in accuracy, reliability, consistency and ease of use.
"The ability to develop a proprietary technology in a highly competitive market where technology innovation has come to a stand-still speaks to Quidel's ability to succeed in a saturated and highly competitive market," said Frost & Sullivan Research Analyst Barath Shankar.
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), the portfolio currently includes tests that aid in the diagnosis of several disease or condition states, including influenza, 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 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 http://www.quidel.com/ .
About Frost & Sullivan Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities. Frost & Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies, and the investment community, by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics, and demographics. For more information, visit http://www.frost.com/ .
Contact:
Stacie Jones
210.247.2450
DATASOURCE: Frost & Sullivan CONTACT: Stacie Jones of Frost & Sullivan, +1-210-247-2450, or Web site: http://www.frost.com/ http://www.quidel.com/
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