PerkinElmer’s EONIS SCID-SMA assay kit gets FDA approval for use in newborns

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PERKINELMER ($NYSE:PKI): PerkinElmer, Inc. is a global leader in life sciences. They supply instruments, software, services, and consumables for applications across the research, drug discovery, and clinical diagnostics markets. PerkinElmer’s EONIS SCID-SMA assay kit has been granted approval by the US FDA for in vitro diagnostic use for spinal muscular atrophy and severe combined immunodeficiency in newborns. The platform uses PCR technology to screen for both SMA and SCID using a single dried blood spot sample, combining DNA extraction and multiplexing.

This new assay will help clinicians quickly and accurately diagnose these two potentially fatal diseases in newborns. Early diagnosis is critical for the timely initiation of treatment, which can improve patient outcomes.

Stock Price

On Monday, PerkinElmer‘s stock opened at $142.6 and closed at $143.0, down by 0.3% from its last closing price of 143.5. SCID is a rare but serious condition that can be fatal if left untreated. The company’s stock may have dipped on Monday, but this is likely due to overall market conditions and not because of any negative news about the company. In the long run, PerkinElmer is well-positioned to benefit from the FDA’s approval of its EONIS SCID-SMA assay kit.

VI Analysis

Investors interested in growth companies that pay dividends and are profitable may be interested in PERKINELMER. The company is classified as a ‘rhino’, which means it has achieved moderate revenue or earnings growth. The company’s fundamentals reflect its long term potential and the VI Star Chart shows that PERKINELMER is strong in dividend, growth, profitability, and weak in asset. The company has a high health score of 8/10 considering its cashflows and debt, which means it is capable to sustain future operations in times of crisis.

VI Peers

The company has a strong portfolio of products and services, which it uses to compete against its rivals, SenzaGen AB, Shanghai Rendu Biotechnology Co Ltd, and Charles River Laboratories International Inc. While all three companies are strong competitors, PerkinElmer Inc has the advantage of being a more diversified company, with a broader range of products and services. This gives the company a competitive edge in the market, and enables it to better meet the needs of its customers.

– SenzaGen AB ($SHSE:688193)

Shanghai Rendu Biotechnology Co Ltd is a Chinese biotechnology company with a market cap of 1.94B as of 2022. The company has a Return on Equity of 3.93%. Shanghai Rendu Biotechnology Co Ltd is engaged in the research, development, production and sale of diagnostic reagents, detection instruments and other products.

– Shanghai Rendu Biotechnology Co Ltd ($NYSE:CRL)

As of 2022, Charles River Laboratories International Inc. had a market cap of 10.63 billion and a return on equity of 13.86%. The company provides research tools and services to support the drug discovery and development process. Its services include preclinical services, such as target identification and validation, lead optimization, and IND-enabling studies; and manufactured products, including research models and reagents.

Summary

Investing in PerkinElmer can be a smart move for investors looking to gain exposure to the healthcare sector. The company provides products and services for a variety of applications in the healthcare, environmental, and industrial markets. PerkinElmer has a strong track record of growth and profitability, and its products are used by many leading healthcare and research institutions around the world. PerkinElmer is a well-established company with a long history of success.

The company has a strong financial position, with a strong balance sheet and healthy cash flows. PerkinElmer has a diversified product portfolio and a global reach. The company is well-positioned to continue its growth in the future.