Added: Feb 8, 2012
From: FinancialNewsOnline
Duration: 1:8
Siemens Healthcare Diagnostics (NYSE:SI) announces two new companion diagnostics partnerships with pharmaceutical companies ViiV Healthcare and Tocagen --marking a major step for Siemens into this important and fast-growing segment of the in vitro diagnostics market. Siemens' partnership with ViiV Healthcare will focus on clinical trials related to Celsentri/Selzentry. The Siemens - Tocagen relationship will begin with diagnostic tests to support clinical trials related to Tocagen's unique viral gene therapy under investigation for the treatment of primary brain cancer, followed by potential commercialization of diagnostic tests for therapy monitoring, subject to FDA approval. Michael Reitermann, CEO, Siemens Healthcare Diagnostics said, "Siemens' presence in the emerging companion diagnostics market enables us to leverage our innovation capabilities and deep clinical knowledge to help improve pharmaceutical drug safety and effectiveness." Siemens (NYSE:SI) has potential upside of 12.5% based on a current price of $100.48 and an average consensus analyst price target of $113.05.
Channel: News
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