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February 9, 2022updated 10 Feb 2022 10:11am

Qiagen reports 20% increase in full year 2021 net sales

Austria, the UK, Italy, Turkey and Switzerland delivered significant gains during the period.

Qiagen has reported a 20% increase in full-year 2021 net sales at constant exchange rates (CER) to $2.25bn, as against $1.87bn in 2020.

High demand for Covid-19 test products and confirmed positive trends in the non-Covid portfolio contributed to the rise in sales.

Adjusted diluted EPS during the period increased 23% to $2.65, compared to $2.15 in the prior year.

The company’s operating income for the full year stood at $630m, as against $386m in 2020, representing a 63% increase.

Qiagen CEO Thierry Bernard said: “Our very solid results in the fourth quarter capped a tremendous year for Qiagen, especially the 22% CER growth in our non-Covid product portfolio that has consistently outperformed.

“Going into 2022, we are optimistic about opportunities in the research environment amid healthy increases in national funding programmes, as well as robust trends in regular clinical testing for molecular diagnostics.”

In the US 25% CER growth was delivered for the full year, benefiting from significant gains in non-Covid product group sales, particularly QuantiFERON and QIAcuity, while sales related to Covid-19 grew at a mid-single-digit CER rate.

In Europe, significant gains were delivered in Austria, the UK, Italy, Turkey and Switzerland and were complemented by single-digit CER growth in France.

Qiagen sales in China increased above 20% CER for the full year and at a mid-single-digit CER rate in the fourth quarter.

For the fourth quarter (Q4) of 2021, the company’s net sales increased 2% CER to $582m, compared to $571m in 2020, and adjusted diluted EPS rose 9% to $0.74, as against $0.68 in the previous year.

Operating income during the quarter rose 11% to $173m, an increase from $156m in the year-ago period.

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