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Last Trade - 13/07/21

Mid Cap
Market Cap £1.27bn
Enterprise Value £1.26bn
Revenue £317.4m
Position in Universe th / 7147

Diasorin revenues linked to COVID-19 fall below 20% after Lumina deal - paper

Thu 15th July, 2021 6:10am
MILAN, July 15 (Reuters) - Revenues linked to COVID-19 tests
of Italy's diagnostics group Diasorin will fall below 20% after
the acquisition of U.S. rival Luminex, its chief executive was
quoted as saying on Thursday.
    Diasorin on Wednesday completed the acquisition of Luminex
Corp for $1.8 billion in a move aimed at boosting its molecular
business and offset a potential drop in demand for COVID-19
tests as the pandemic is brought under control.*:nL8N2M51F1
    The pandemic has fuelled rapid growth at Diasorin' molecular
division, which in 2020 accounted for 29% of sales. 
    But as the rollout of COVID-19 vaccines progresses, some
analysts have raised concern about a possible drop in demand for
COVID-19 molecular tests once the emergency is over.
    "We wanted a company that was less dependent on revenues
related to testing for Covid", CEO Carlo Rosa told daily Il
Corriere della Sera. "With Luminex, the share of revenues
directly attributable to anti-Covid instrumentation drops below
20 percent."     

 (Reporting by Stefano Bernabei, writing by Maria Pia Quaglia)
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