11.22.13
In 2006, OraSure Technologies Inc. and Roche Inc. entered into a partnership to create drug testing assays. In 2011, the collaboration resulted in four 510(k) clearances from the U.S. Food and Drug Administration for four homogenous, fully automated oral fluid drugs of abuse assays developed to be used exclusively as part of OraSure’s Intercept oral fluid drug testing system. The cleared oral fluid assays include phencyclidine, cocaine, opiates and methamphetamine. The oral fluid assays used Roche’s kinetic interaction of micro-particles in solution, or KIMS, technology.
Late November this year, OraSure announced it is ending the drug-abuse test collaboration with Roche and entering a new one with Waltham, Mass.-based precision laboratory equipment company Thermo Fisher Scientific Inc.
Roche will pay OraSure $8.3 million as part of the end of the agreement between the companies. It will continue to supply five tests to OraSure for up to five years.
Including the payment from Roche, OraSure Technologies Inc. expects to report net income of 7 to 8 cents per share in the fourth quarter. It had previously expected to lose 7 to 8 cents per share. Analysts expect a loss of 6 cents per share, according to FactSet.
OraSure said it will work with Thermo Fisher Scientific Inc. to develop and supply up to 12 oral drug tests.
Bethlehem, Pa.-based OraSure Technologies makes point-of-care diagnostic products, oral fluid specimen collection devices that leverage proprietary oral fluid technologies, laboratory diagnostic products, including immunoassays and other in vitro diagnostic tests, and other medical devices. Indianapolis, Ind.-based Roche’s main focus is on diagnostics and pharmaceuticals.
Late November this year, OraSure announced it is ending the drug-abuse test collaboration with Roche and entering a new one with Waltham, Mass.-based precision laboratory equipment company Thermo Fisher Scientific Inc.
Roche will pay OraSure $8.3 million as part of the end of the agreement between the companies. It will continue to supply five tests to OraSure for up to five years.
Including the payment from Roche, OraSure Technologies Inc. expects to report net income of 7 to 8 cents per share in the fourth quarter. It had previously expected to lose 7 to 8 cents per share. Analysts expect a loss of 6 cents per share, according to FactSet.
OraSure said it will work with Thermo Fisher Scientific Inc. to develop and supply up to 12 oral drug tests.
Bethlehem, Pa.-based OraSure Technologies makes point-of-care diagnostic products, oral fluid specimen collection devices that leverage proprietary oral fluid technologies, laboratory diagnostic products, including immunoassays and other in vitro diagnostic tests, and other medical devices. Indianapolis, Ind.-based Roche’s main focus is on diagnostics and pharmaceuticals.