Meridian Partners with Merck KGaA/Germany to Develop New Products
CINCINNATI--(BUSINESS WIRE)--Aug. 14, 2006--Meridian Bioscience, Inc., Cincinnati, Ohio (NASDAQ:VIVO) today announced that it has entered into a partnership agreement with the Performance & Life Science Chemicals Division of Merck KGaA, Darmstadt, Germany and its American company EMD. This strategic partnership is focused on the development of new assays for the clinical market, which Meridian will sell through its established, best-in-class sales force and distribution partners. This combined effort will supply Meridian with new products that offer cutting edge technology, with the first product of this partnership scheduled to launch in the U.S. market during the first half of Meridian's fiscal 2007. More importantly, the long-term partnership will enhance Meridian's new product pipeline for the microbiology laboratory and will contribute sales growth over the next several years.
John A. Kraeutler, President and Chief Operating Officer, stated, "Meridian recognizes the importance of new products for our continued growth. This partnership demonstrates Meridian's dedication to organic growth through innovation that maximizes internal and external R&D efforts. Meridian will continue to focus its R&D resources to develop new, differentiated products. By partnering with Merck, Meridian is well-positioned to also leverage external relationships that will generate additional growth."
Dr. Andreas J.G. Rauh, Vice President Laboratory Business for Merck KGaA commented, "We are excited about this partnership with Meridian Bioscience. This partnership will allow for several of Merck's high-quality products to reach markets that are not currently being accessed. In addition, future R&D projects with Meridian could further enhance the Merck portfolio of products."
FORWARD LOOKING STATEMENTS
The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements accompanied by meaningful cautionary statements. Except for historical information, this report contains forward-looking statements which may be identified by words such as "estimates", "anticipates", "projects", "plans", "seeks", "may", "will", "expects", "intends", "believes", "should" and similar expressions or the negative versions thereof and which also may be identified by their context. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company assumes no obligation to publicly update any forward-looking statements. These statements are subject to various risks, uncertainties and other factors that could cause actual results to differ, including, without limitation, the following: Meridian's continued growth depends, in part, on its ability to introduce into the marketplace enhancements of existing products or new products that incorporate technological advances, meet customer requirements and respond to products developed by Meridian's competition. While Meridian has introduced a number of internally developed products, there can be no assurance that it will be successful in the future in introducing such products on a timely basis. Ongoing consolidations of reference laboratories and formation of multi-hospital alliances may cause adverse changes to pricing and distribution. Costs and difficulties in complying with laws and regulations administered by the United States Food and Drug Administration can result in unanticipated expenses and delays and interruptions to the sale of new and existing products. Changes in the relative strength or weakness of the U.S. dollar can change expected results. One of Meridian's main growth strategies is the acquisition of companies and product lines. There can be no assurance that additional acquisitions will be consummated or that, if consummated, will be successful and the acquired businesses successfully integrated into Meridian's operations.
Meridian is a fully integrated life science company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and related products and offers biopharmaceutical enabling technologies. Utilizing a variety of methods, these diagnostic products and tests provide accuracy, simplicity and speed in the early diagnosis and treatment of common medical conditions, such as gastrointestinal, viral, urinary and respiratory infections. Meridian diagnostic products are used outside of the human body and require little or no special equipment. The Company's products are designed to enhance patient well-being while reducing the total outcome costs of healthcare. Meridian has strong market positions in the areas of gastrointestinal and upper respiratory infections, serology, parasitology and fungal disease diagnosis. In addition, Meridian is a supplier of rare reagents, specialty biologicals and related technologies used by biopharmaceutical companies engaged in research for new drugs and vaccines. The Company markets its products and technologies to hospitals, reference laboratories, research centers, veterinary testing centers, physician offices, diagnostics manufacturers and biotech companies in more than 60 countries around the world. The Company's shares are traded through Nasdaq's National Market, symbol VIVO. Meridian's website address is www.meridianbioscience.com.
CONTACT: Meridian Bioscience, Inc.
John A. Kraeutler, 513-271-3700
SOURCE: Meridian Bioscience, Inc.