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DiaSorin

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DiaSorin
Company typeSocietà per azioni
BIT: DIA
IndustryBiotechnology
Founded2000 (2000)
Headquarters
Saluggia
,
Italy
Key people
Gustavo Denegri (Chairman)
Carlo Rosa (CEO)
ProductsIn vitro diagnostics instruments and services
RevenueIncrease€706,3 million[1] (2019)
Number of employees
2,000(2019)[1]
Websitediasoringroup.com

DiaSorin is an Italian multinational biotechnology company that produces and markets in vitro diagnostics reagent kits used in immunodiagnostics and molecular diagnostics. The group was founded in 2000 and is headquartered in Saluggia, Italy. The production platform of the Group is now divided into several plants located in Europe and the United States: Saluggia and Gerenzano (Italy), Dietzenbach (Germany), Stillwater, Minnesota (US), Dartford (UK). The company is a constituent of the FTSE Italia Mid Cap index.

Activities

DiaSorin focuses its efforts to 8 fields of immunodiagnostics: Infectious diseases, Bone and Mineral, Endocrinology, Hypertension, Oncology, Gastro-Intestinal infections, Autoimmunity and Brain and Cardiac markers.

The company is also active in molecular diagnostics for infectious diseases and for the detection of some forms of leukemia.[2]

DiaSorin develops, manufactures and markets tests for the diagnosis of infectious diseases or hormonal disorders. The diagnostic tests are aimed at both private and hospital analysis laboratories worldwide, in immunodiagnostics and molecular diagnostics markets.

In immunodiagnostics, DiaSorin offers the market proprietary-based platforms on the CLIA (Chemiluminescence) and ELISA (Colorimetry) technologies.

In molecular diagnostics, DiaSorin offers the market diversified proprietary platforms based on the 3 phases of the detection process: extraction, amplification and diagnosis.[3]

History

The origins of the company date back to 1968, when near Vercelli on an initiative of Fiat and Montecatini, the "Sorin Biomedica" was founded by the "Società Ricerche Impianti Nucleari - Sorin".[4] In 1997 the Company acquired control of American Incstar Inc., and part of its operations were later sold to American Standard Inc.[4] DiaSorin was founded in 2000, through a management buyout operation led by the Italians Carlo Rosa and Gustavo Denegri.[5]

In 2002 DiaSorin acquired BYC Sangtec and the rights to the LIAISON platform. The commercial expansion led to the opening of new branches in Mexico, Israel, and China. The LIAISON portfolio was enriched with products for new and clinical specialty areas. In the same year the Group started the conversion of the tests previously developed with ELISA technology on the most recent and automated CLIA.[4]

In July 19, 2007 the DiaSorin title debuted at Borsa Italiana Stock Exchange.[6]

In 2014 the company obtained the approval of Hepatitis, Retrovirus tests in China; in the same year, DiaSorin launched new tests to detect leukemias. DiaSorin Group signed an agreement in 2015 with Beckman Coulter for the commercialization in China of DiaSorin Hepatitis and HIV tests.[7]

In 2016, the group acquired of Focus Diagnostics’ business unit, enabling the Group to expand its activities in molecular diagnostics.[8][9]

In 2017, a partnership with Qiagen offered an automated solution for detection of tuberculosis with QuantiFERON-TB Gold Plus available on the LIAISON analyzers. That was also the year of the Siemens Healthineers ELISA business acquisition.[10]

In October 2018 the Saluggia branch began a partnership with Meridian for the distribution of a Helicobacter pylori detection test in the United States and United Kingdom. The companies have put in place a framenwork under which they may work together on the development of new tests and products.[11]

In 2019 the commercial launch of LIAISON® XS Approval of Latent Tuberculosis Test in the United States.[12]

In February and March 2020, from the novel coronavirus pandemia, DiaSorin has devised and developed a molecular diagnostic test intended to detect all the currently known variants of the COVID-19.  The test enables sample-to-answer results within less than 60 minutes compared to the 5–7 hours currently necessary to report patient results.[13]

On 7 April 2020, DiaSorin announces the development of a new IgG CLIA test to identify antibodies against SARS-CoV-2 antibody test, that allows to detect antibodies directed against the virus in patients’ sera samples, identifying subjects who have developed an immune response to the virus, offering a tool for epidemiologic assessment of populations.[14]

On 25 April 2020, DiaSorin received Emergency Use Authorization from the U.S. Food and Drug Administration for a new serologic test for Covid-19[15].


Shareholder base

Shareholder (2019[16]) Share %
Finde SS 44,97%
Rosa Carlo 8,36%
Even Chen Menachem 4,20%
T. Rowe Price Associates, Inc. 3,03%
Market 39,43%

Financial data

DiaSorin is listed since 2007 in the Italian Stock Exchange and today in the FTSE Italy Mid Cap Index.

(in thousand Euros)[2] 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Sales and service revenues 206,3 244,6 304,1 404,5 440 433,7 434,8 443,7 449,1 569,3 637,4 669,2 706,3
Cost of sales (73,8) (84) (90,4) (119,8) (126,1) (136,4) (135,1) (145) (157,2) (180,1) (205,5) (214,4) (217,6)
Gross profit 132,5 160,6 213,6 284,7 313,8 297,3 299,6 298,7 341,8 389,1 431,9 455,8 488,7
EBIT 47,5 70,7 106,4 145,5 163,3 140,2 134,6 129,8 152 172,6 184,4 204,5 217,9
Profit before taxes 44,1 59,8 103,7 144,9 158,2 137,4 129,3 128,1 150,1 168,1 178,7 204,4 216,3
Net result 26,3 37,4 70 90,4 99,6 87,6 83,1 84 100,5 112,6 139,8 158,1 175,7
EBITDA 61,5 85,6 123,6 167,1 190 169,5 163 160,2 184,9 217,3 237,9 255,4 276,8

Management

Role Name
Chairman Gustavo Denegri
Chief Executive Officer Carlo Rosa
President John Walter
Senior Corporate VP e Chief Financial Officer Piergiorgio Pedron
Chief Commercial Officer Chen Even
Senior Corporate VP Human Resources Stefano Ronchi

Notes

  1. ^ a b Cite error: The named reference fy2019 was invoked but never defined (see the help page).
  2. ^ a b "Annual Financial Report at December 31, 2017". Retrieved 30 January 2019.
  3. ^ "DiaSorin - Annual Financial Report 2017" (PDF).
  4. ^ a b c "DiaSorin - Our History".
  5. ^ "DiaSorin: "Via da Dublino grazie al patent box. Ma ora maggiori certezze"". 16 April 2018. Retrieved 17 April 2018.
  6. ^ "Borsa Italiana - DiaSorin".
  7. ^ "DiaSorin and Beckman Coulter Form Strategic Partnership to Bring the Liaison XL Hepatitis and HIV Products to the U.S. Market".
  8. ^ "DiaSorin to Acquire Quest's Focus Diagnostics for $300M". GEN.
  9. ^ "DiaSorin Completes Acquistion [sic] of the Focus Diagnostics' Molecular and Immunoassay Product Business from Quest Diagnostics".
  10. ^ "DiaSorin to acquire ELISA immunodiagnostic business portfolio and associated assets from SIEMENS HEALTHINEERS".
  11. ^ "DiaSorin and Meridian Enter Into a Strategic Collaboration to Sell Helicobacter Pylori Stool Antigen Test in the United States and in the United Kingdom".
  12. ^ "Qiagen, DiaSorin secure US approval for QFT-Plus Test". Verdict Medical Devices. 2019-11-28. Retrieved 2020-04-16.
  13. ^ "Shares in Diasorin surge ahead of launch of diagnostic test for coronavirus". CNBC. 2020-03-10. Retrieved 2020-04-16.
  14. ^ "LIAISON® SARS-CoV-2 IgG". DiaSorin. Retrieved 2020-04-16.
  15. ^ "Italy's DiaSorin gets U.S. FDA approval for COVID-19 antibody test". Reuters. 2020-04-25. Retrieved 2020-04-28.
  16. ^ a b "Diasorin official website, Total shareholders' basis". Retrieved 15 April 2020.
  17. ^ "Diasorin official website". Retrieved 12 July 2019.
  18. ^ "About us". Retrieved 24 November 2013.
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