New Products, Solid Base Businesses Expected to Drive Double-Digit Revenue Growth for Gen-Probe in 2012

SAN DIEGO, Jan. 9, 2012 /PRNewswire/ -- Gen-Probe's (NASDAQ: GPRO) multiple new product launches are off to a good start and should help drive accelerating, double-digit revenue growth in 2012, according to Carl Hull, Gen-Probe's chairman and CEO, who will discuss the Company's 2011 accomplishments and future strategies with investors at JP Morgan's 30th annual healthcare conference in San Francisco beginning today.

"2012 is a very exciting and important year for Gen-Probe, as we add multiple new products to our already strong franchises in STD testing and blood screening to accelerate top-line growth," Hull said.  "At the same time, we plan to lay the foundation for sustainable, long-term growth by investing in attractive new product opportunities where our core capabilities and customer relationships provide competitive advantage."

At the conference, Gen-Probe plans to discuss these business developments with investors:

• The Company achieved its goal of placing a few dozen PANTHER® systems with diagnostics customers outside the United States in 2011, with PANTHER-related revenues adding progressively more to growth over the course of the year.
• The Company's R&D priorities for 2012 include two significant instrument development programs that leverage the Company's automation expertise and intellectual property: adding real-time PCR capabilities for the next-generation PANTHER system, and developing a new instrument to further automate molecular testing from liquid-based cytology specimens.
• The Company has already recorded its first commercial sales of the APTIMA® HPV assay, and is pleased with the high level of customer interest to date.
• More than 80 customers have adopted or are evaluating the APTIMA trichomonas assay, sales of which have increased on a sequential basis throughout 2011.
• The Company recently launched its CE-marked APTIMA trichomonas assay on the PANTHER system in Europe.

Gen-Probe's presentation for the JP Morgan conference will be available at http://phx.corporate-ir.net/phoenix.zhtml?c=135117&p=irol-presentations.  A live webcast will be available at the same location at 2 pm Pacific Time on January 10.

About Gen-Probe

Gen-Probe is a global leader in the development, manufacture and marketing of rapid, accurate and cost-effective molecular diagnostic products and services that are used primarily to diagnose human diseases, screen donated human blood, and ensure transplant compatibility. Gen-Probe is headquartered in San Diego and employs approximately 1,400 people. For more information, go to http://www.gen-probe.com.

Caution Regarding Forward-Looking Statements

Any statements in this press release about Gen-Probe's expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements.  These statements are often, but not always, made through the use of words or phrases such as believe, will, expect, anticipate, estimate, intend, plan and would.  For example, statements concerning future financial performance, the development and commercialization of new products, regulatory approvals or clearances, customer adoption, and results of future clinical studies are all forward-looking statements.  Forward-looking statements are not guarantees of performance.  They involve known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied.  Some of the risks, uncertainties and assumptions that could cause actual results to differ materially from estimates or projections contained in the forward-looking statements include but are not limited to: (i) the possibility that we may not meet our financial goals; (ii) the risk that the markets for the sale of our new products may not develop as expected; (iii) the risk that we may not be able to compete effectively; (iv) the risk that new products will not receive US regulatory approval or clearance; (v) the risk that we may not be able to maintain our current corporate collaborations and enter into new corporate collaborations or customer contracts; and (vi) the risk that third parties may not distribute our products effectively.  The foregoing describes some, but not all, of the factors that could affect our ability to achieve results described in any forward-looking statements.  For additional information about risks and uncertainties we face and a discussion of our financial statements and footnotes, see documents we file with the SEC, including our most recent annual report on Form 10-K and all subsequent periodic reports.  We assume no obligation and expressly disclaim any duty to update any forward-looking statement to reflect events or circumstances after the date of this news release or to reflect the occurrence of subsequent events.

Contact:
Michael Watts
Vice president, investor relations and corporate communications
858-410-8673

 

SOURCE Gen-Probe