Eurofins Scientific announced on Monday the launch of a prescription-free at-home COVID-19 PCR test, as the French laboratories and diagnostics company eyed further growth.
The group, which has launched an array of COVID-19 testing products it sells to governments, airlines and transport hubs, said the nasal swab test could be ordered online for $99 or bought at pharmacies across the United States.
It specified that although the U.S. Food and Drug Administration (FDA) had authorised the at-home test under an emergency use authorisation, it had not cleared or approved the product.
“We are also working very closely with European authorities for the approval of similar direct-to-consumer products,” said the group’s chief executive Gilles Martin in a statement.
The group also reported 2020 results ahead of its own targets as it lowered its 2022 guidance and set out new goals for 2023.
Eurofins estimated that its COVID-19 testing and reagents brought in over 800 million euros of the 5.44 billion euros ($6.57 billion) in revenue for 2020.
However, Eurofins said its other businesses had been hit by lockdowns, social distancing and travel restrictions, particularly impacting its sales to clients in the travel industry, events, restaurants and clinical trials.
The group confirmed its forecasts for this year, but said results could be materially higher should COVID-19 testing continue at the current levels.
A level of coronavirus testing and market disruptions could well continue into 2022, it added, if vaccination programmes do not build sufficient immunity in many countries by summer, or if the more infectious variants reduce their effectiveness.
Excluding further COVID-19 revenues and assuming markets return to normal by the start of next year, it lowered its 2022 revenue target to 5.45 billion euros from 5.7 billion, and its core earnings forecast to 1.30 billion from 1.35 billion.
For 2023, it forecast sales (excluding COVID-19 products) of 5.73 billion euros and core earnings of 1.38 billion.
Main Photo: The high volume laboratory of Eurofins in Rijswijk, The Netherlands. EPA-EFE/ROBIN VAN LONKHUIJSEN