Gen-Probe Incorporated (NASDAQ:GPRO) recently reported financial results for the third quarter of 2010, highlighted by 19% growth in non-GAAP earnings per share (NYSEARCA:EPS) and 8% growth in product sales and total revenues.
"Gen-Probe's third quarter financial results demonstrate our ability to generate solid top- and bottom-line growth in the face of challenging business conditions," said Carl Hull, the Company's president and chief executive officer. "In addition, the major R&D initiatives that we expect to reinvigorate product sales growth remain on track, with four US regulatory filings already complete this year and our APTIMA HPV submission anticipated in the next month."
Clinical diagnostics sales growth in the third quarter of 2010 was driven by the APTIMA Combo 2 assay for detecting Chlamydia and gonorrhea, and by Prodesse products, which were not part of Gen-Probe in the prior year period. Compared to the prior year period, foreign exchange fluctuations reduced clinical diagnostics sales by an estimated $0.5 million, or less than 1%.
Gen-Probe Incorporated is a global leader in the development, manufacture and marketing of rapid, accurate and cost-effective molecular diagnostic products and services that are used primarily to diagnose human diseases, screen donated human blood, and ensure transplant compatibility. Gen-Probe has approximately 27 years of expertise in nucleic acid testing (NYSE:NAT), and received the 2004 National Medal of Technology, America's highest honor for technological innovation, for developing NAT assays for blood screening. Gen-Probe is headquartered in San Diego and employs approximately 1,300 people.
Hiru Corporation (OTCPK:HIRU) subsidiary Jiangxi Shaungshi Pharmaceutical Co., Ltd (Shaungshi AHP) launched the Jiangxi Shaungshi Biological Medicines Institute.
Shuangshi AHP is currently researching several new veterinary drugs for development within the next two years. The company launched this new institute to strengthen and speed up the research and development processes. The Institute will allow the company a better focus and concentration of its talent in bio-tech development and research. Shaungshi AHP has elected Li Rui to be director of the institute.
Hiru Corporation intends to continue its work in the development, production and marketing of both well-established and new veterinary drugs, and nutritional additives (amino acids, vitamins, trace elements, etc.) for the Chinese market.
Hiru Corporation is pleased with this development and looks forward to future growth.
Hiru Corporation, through its subsidiary, Jiangxi RongYu Pharmaceutical Group Co., Ltd., produces Chinese herbs for the naturopathic industry in China. HIRU manufactures herbal supplements containing ginseng. HIRU sells and distributes pharmaceuticals, health and beauty products, dietary and herbal supplements, and other healthcare products. HIRU manufactures approximately 120 extracts used in traditional Chinese medicine. HIRU sells its products through regional distributors, as well as directly to the hospitals, clinics, and pharmacies in China. Hiru Corporation is based in Henderson, Nevada.
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