QIAGEN to discontinue NeuMoDx integrated PCR testing system, support customers during transition period

Core Viewpoint - QIAGEN has decided to discontinue the NeuMoDx 96 and 288 Molecular Systems due to changing market dynamics post-COVID-19 and evolving customer needs for integrated PCR-based clinical molecular testing systems [1][2] Company Strategy - The decision reflects QIAGEN's commitment to focus on developing profitable leadership positions and reallocating resources to other areas of its portfolio [2][10] - QIAGEN plans to enhance its offerings in the QIAstat-Dx system for syndromic testing, the QIAcuity digital PCR systems, and the QIAGEN Digital Insights bioinformatics business [10] Financial Outlook - QIAGEN has reaffirmed its Q2 2024 outlook for net sales of at least $495 million at constant exchange rates and adjusted diluted EPS of $0.52 [2] - For the full year 2024, the company has updated its outlook for adjusted diluted EPS to at least $2.14, up from a prior estimate of at least $2.10 [11] Restructuring and Charges - The company expects to incur a pre-tax restructuring charge of approximately $400 million, primarily in Q2 2024, which includes about $300 million in non-cash items [12] - The restructuring charge will consist of approximately $90 million for inventory and about $210 million for long-term assets, including $120 million for acquired intellectual property [12] Customer Support - QIAGEN will continue to support existing NeuMoDx users during the transition period into 2025, providing maintenance, technical support, and necessary consumables [4]