© Reuters. FILE PHOTO: A logo of a testing company Qiagen is seen as Economy Minister Andreas Pinkwart and Health Minister Karl-Josef Laumann of the German state Northrhine Westphalia visit Qiagen’s facility, in Hilden, Germany, September 8, 2020. REUTERS/Leon Kuege
FRANKFURT (Reuters) – U.S.-German biotechnology company Qiagen (NYSE:) NV said on Monday that its third-quarter net profit dropped 38%, but it raised its outlook for the full year.
Profit slumped in the quarter to $82 million from $133 million a year ago.
It said it was raising its outlook due to strong results in the first nine months and the outlook for the full year.
It now expects sales of $2.25 billion, up from a previous outlook for at least $2.2 billion.
Last month, The Wall Street Journal reported that California-based diagnostics company Bio-Rad Laboratories (NYSE:) was in talks to merge with Qiagen.
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