Bio-Rad releases Q3 financial report, acquires digital PCR manufacturer

Bio-Rad recently announced that its third-quarter revenue was US$747 million, an increase of 15% from US$647 million in the same period last year

In the third quarter, revenue in the life sciences sector increased by 15% year-on-year to $374 million

Bio-Rad’s chief financial officer, Ilan Daskal, said that sales related to COVID-19 this quarter reached 57 million U.

"In addition, we have also seen strong growth in the microdrop digital PCR platform in the biopharmaceutical market," he added

Daskal also announced that Bio-Rad recently acquired Dropworks, a manufacturer of digital PCR instruments

"We believe that Dropworks is helping Bio-Rad enter the low-end market of the digital PCR business and expand in the $2.

The revenue of the clinical diagnostics division increased by 16% year-on-year to reach 372 million US dollars, which was mainly attributable to the increased demand for all product lines in all regions

Andrew Last, chief operating officer of Bio-Rad, pointed out that supply chain constraints have always existed, especially the supply and cost of plastic raw materials and electronic components, as well as high logistics costs

Bio-Rad’s net income in the third quarter was US$3.

The company's R&D expenditure in the third quarter increased from 59.

Bio-Rad raised its forecast for annual revenue growth from 10% to 10.