The U.S. Food and Drug Administration says Meridian Bioscience can market two new tests for upper respiratory diseases. That means more health care providers can detect more problems faster.
Meridian makes, markets and distributes a broad range of diagnostic test kits, purified reagents and related products and technologies. Its customers are hospitals, reference laboratories, research centers, veterinary testing centers, physician offices and diagnostics manufacturers in more than 60 countries.
Fiscal 2009 net sales were $148.3 million, up six percent from the previous year. Operating income was of $48.8 million, up 10 percent.
The first half of '09 was "challenging," CEO Jack Kraeutler says. However, during the second half, "Our respiratory sales were robust as shipments of our rapid influenza tests, driven by the H1N1 pandemic, drove a major portion of the growth of our diagnostics business units." Flu test sales outside of the U.S., especially in Europe, were key.
"Rapid tests for foodborne diseases, such as toxigenic E. coli, also grew double digits in (the fourth quarter) and are expected to be a major contributor to fiscal 2010 sales increases," Kraeutler says.
For fiscal 2010, the company expects its revenue to come mostly from tests for C. difficile, H. pylori (stomach bacterias), upper respiratory infections and foodborne disease.
Founded in 1977, the company employs about 400 people worldwide. R&D, manufacturing and warehousing are at corporate headquarters in Hamilton County.
Meridian has been named to Fortune magazine's list of Fastest Growing Small Companies four times.
Source: Jack Kraeutler, Meridian Bioscience
Writer: Gabriella Jacobs