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Orchid Bioscience to leave instrument business. (Executive Briefing).

Princeton, NJ 10/11/02 -- Orchid Bioscience has announced that it will phase out the SNP genotyping instruments business of its Orchid Life Science unit. The company is currently evaluating options for the business such as partnerships and expects to take action by year end. Orchid said the decision is part of its effort to refocus its business on clinical-quality genotyping services for the pharmaceutical companies, identity genomics, diagnostics and personalized healthcare, which makes up the majority of its revenues. In addition, the company noted the short product life cycles and increasing competition for SNP genotyping instruments as reasons. The company plans to be profitable in the fourth quarter of 2003.

The company's products include SNPstream as well as SNP-IT primer extension technology and SNPware consumables for other vendors' hardware. The company has agreements with Affymetrix (see IBO 2/15/00 and 9/30/01), Amersham Biosciences (see IBO 8/15/00), PerkinElmer (see IBO 6/15/ 01) and Thermo Electron (see IBO 4/15/ 02), among others. The company forecasts revenues of $65 million for 2002.
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Publication:Instrument Business Outlook
Article Type:Brief Article
Geographic Code:1USA
Date:Oct 31, 2002
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