Qiagen has reported a 20% increase in full year 2021 revenue at constant exchange rates (CER) to $2.25 billion from $1.87 billion in 2020.
Strong demand for Covid-19 testing products and confirmed positive trends in the non-Covid portfolio contributed to the sales increase.
Adjusted diluted EPS during the period increased 23% to $2.65 from $2.15 a year earlier.
The company’s operating income for the full year was $630 million, compared to $386 million in 2020, an increase of 63%.
Thierry Bernard, CEO of Qiagen, said, “Our very strong fourth quarter results capped off a terrific year for Qiagen, in particular the 22% growth in CERs from our non-Covid product portfolio which consistently outperformed.
“As we approach 2022, we are optimistic about opportunities in the research environment amid healthy increases in national funding programs, as well as robust trends in regular clinical testing for molecular diagnostics.
In the United States, CER growth of 25% was recorded for the full year, benefiting from significant sales gains in the non-Covid product groups, in particular QuantiFERON and QIAcuity, while sales related to Covid-19 grew at a mid-single digit CER rate.
In Europe, significant gains were made in Austria, the UK, Italy, Turkey and Switzerland and were complemented by single-digit CER growth in France.
Qiagen’s sales in China grew by more than 20% CER for the full year and in mid-single digit CER in the fourth quarter.
For the fourth quarter (Q4) of 2021, the company’s net sales increased 2% CER to $582 million, from $571 million in 2020, and adjusted diluted EPS increased 9% to 0, 74 USD, compared to 0.68 USD the previous year.
Operating profit in the quarter increased 11% to $173 million from $156 million a year ago.