GERMANTOWN, Maryland, HILDEN, Germany and NEW DELHI: QIAGEN today announced the
formation of its India subsidiary, QIAGEN India Pvt. Ltd., and the beginning
of direct sales in the country. Until now, QIAGEN products have been sold in
India through distributor partnerships. QIAGEN has been active in India since
1995 and has developed numerous initiatives, partnerships and a strong
network. The Company expects that this enhanced presence will further
contribute to its position in the market. The new QIAGEN office, located in
New Delhi, is a further milestone in QIAGEN's strategy to expand its
footprint in emerging, high-growth regions.
The Indian life sciences and biotech market is one of the fastest growing
in the region. In 2010, the domestic market in India grew to revenues of US$
5 billion and is expected to approximately double by 2015. India's domestic
in vitro diagnostics market is projected to grow at 15% annually in the next
several years and to accelerate going forward due to government incentive
programs and infrastructure investment.
"India is a strategic market for the global expansion of QIAGEN, with 1.2
billion people and rapidly growing healthcare and R&D sectors," said Peer
Schatz, Chief Executive Officer of QIAGEN. "The great potential for our
molecular diagnostic technologies to serve patients in India, along with the
research needs of the country's robust pharmaceutical segment, emerging
applied testing market and a rapidly increasing academic market, makes India
a perfect fit for our growth and geographic expansion goals. We are excited
about the prospects for QIAGEN to grow more rapidly with a presence in this
vast market."
The move to a deeper engagement in India is a further milestone for
QIAGEN in Asia where it entered China in 2004 and Japan in 1998. Since then,
the Company has expanded to more than 500 employees in Asia, with 2009
revenue in the region exceeding US$ 135 million, and believes that it has
market leading positions in its focus markets. In the coming years, QIAGEN
expects a growth trajectory in India similar to its successful experience in
China. The New Delhi office is expected to grow to a staff of more than 30 in
2011.
QIAGEN's diverse product portfolio is well suited to serve India's unique
healthcare needs, as well as to advance pharmaceutical R&D in India. As with
other developing countries, India faces a double burden of non-communicable
and communicable diseases. Demographic changes and rising living standards
have also led to an increase in chronic diseases. With one of the broadest
offerings in molecular diagnostics for profiling, prevention, personalized
healthcare and point of need testing, as well as one of the largest sample
and assay technology portfolios for drug development, QIAGEN is well
positioned to serve the growing Indian market.
About QIAGEN
QIAGEN N.V., a Netherlands holding company, is the leading global
provider of sample and assay technologies. Sample technologies are used to
isolate and process DNA, RNA and proteins from biological samples such as
blood or tissue. Assay technologies are used to make such isolated
bio-molecules visible. QIAGEN has developed and markets more than 500 sample
and assay products as well as automated solutions for such consumables. The
company provides its products to molecular diagnostics laboratories, academic
researchers, pharmaceutical and biotechnology companies, and applied testing
customers for purposes such as forensics, animal or food testing and
pharmaceutical process control. QIAGEN's assay technologies include one of
the broadest panels of molecular diagnostic tests available worldwide. This
panel includes the digene HPV Test, which is regarded as a "gold standard" in
testing for high-risk types of human papillomavirus (HPV), the primary cause
of cervical cancer, as well as a broad suite of solutions for infectious
disease testing and companion diagnostics. QIAGEN employs nearly 3,600 people
in over 35 locations worldwide. Further information about QIAGEN can be found
at http://www.qiagen.com/.
Certain of the statements contained in this news release may be
considered forward-looking statements within the meaning of Section 27A of
the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S.
Securities Exchange Act of 1934, as amended. To the extent that any of the
statements contained herein relating to QIAGEN's products, markets, strategy
or operating results, and to expected growth of QIAGEN's business in India in
particular, are forward-looking, such statements are based on current
expectations that involve a number of uncertainties and risks. Such
uncertainties and risks include, but are not limited to, risks associated
with management of growth and international operations (including the effects
of currency fluctuations and risks of dependency on logistics), variability
of operating results, the commercial development of the applied testing
markets, clinical research markets and proteomics markets, nucleic acid-based
molecular diagnostics market, and genetic vaccination and gene therapy
markets, competition, rapid or unexpected changes in technologies,
fluctuations in demand for QIAGEN's products (including fluctuations due to
the level and timing of customers' funding, budgets, and other factors), our
ability to obtain regulatory approval of our infectious disease panels,
difficulties in successfully adapting QIAGEN's products to integrated
solutions and producing such products, the ability of QIAGEN to identify and
develop new products and to differentiate its products from competitors'
products, market acceptance of QIAGEN's new products and the integration of
acquired technologies and businesses. For further information, refer to the
discussions in reports that QIAGEN has filed with, or furnished to, the U.S.
Securities and Exchange Commission (SEC).
Contacts:
Investor Relations
Dr. Solveigh Mahler - +49-2103-29-11710
Albert F. Fleury - +1-301-944-7028
e-mail: ir@qiagen.com
Public Relations
Dr. Thomas Theuringer - +1-240-686-7425
Brendan Green - +86-21-3865-3824
e-mail: pr@qiagen.com
SOURCE QIAGEN N.V.
