Diagnostics & Precision Testing

Every treatment starts with one question: "What is it, exactly?" Diagnostics is the answer to that question — from an ordinary blood test all the way to reading the genetic code of a tumor to pick the right drug. It's just a few percent of the total cost of care, yet it decides almost every medical decision. This chapter shows how testing is shifting from "telling you whether you're sick yet" to "catching the disease before any symptoms" and "choosing the drug that fits you" — and why it's one of the quietest yet most powerful arenas in healthcare.

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Why is Diagnostics & Precision Testing moving?

Q2 2026
▲3▼1

Diagnostics Advance on Approvals and Coverage, but Grail and GeneDx Setbacks Weigh

  • Major approvals and insurance coverage NCCN endorsed ctDNA-MRD testing for bladder cancer, Natera's Signatera won Japanese approval for colorectal cancer, Roche's PTEN assay gained FDA approval, and UnitedHealth became the first major insurer to cover Guardant's Shield blood test.

    These regulatory and reimbursement wins directly expand the market for precision diagnostics.

  • MRD testing expands across cancers and geographies MRD testing expanded across cancers and geographies, with Myriad, Quest, and Natera progressing, while new blood-based tests and AI tools advanced, signaling broader adoption of precision diagnostics.

    This shows the core technology of precision testing is gaining traction beyond initial uses.

  • Alzheimer's blood test licensing deal ALZpath licensed its pTau217 antibody to Abbott for Alzheimer's blood testing, a step toward simpler, more accessible diagnosis of the disease.

    This partnership highlights new applications and commercial interest in blood-based diagnostics.

  • Grail and GeneDx setbacks hit confidence Grail's Galleri missed its primary endpoint in a large NHS trial and faces a securities class action, while GeneDx suffered a 49% stock drop, a $31.2 million impairment, guidance cut, and fraud lawsuit, undermining confidence in multi-cancer early detection and genetic testing.

    These negative events are a major counterweight to the positive developments and affect sentiment across the sector.

Latest
▲3▼1

Diagnostics demand broadens; reimbursement cuts loom as a risk

  • New FDA-cleared tests expand routine infectious disease and cancer screening QIAGEN won FDA clearance for a bloodstream infection panel covering 33 pathogens and 28 resistance markers, and Abbott launched SimpleScreen CRC, a blood-based colorectal cancer screen covered by Medicare. These add new routine testing markets, lifting demand for diagnostics.

    Shows concrete new product approvals that expand the testing menu and drive demand.

  • Diagnostics dealmaking and specialty testing expansion continue Leica Biosystems (Danaher) completed its acquisition of StatLab, Eurofins closed a $400 million purchase of Element's North American life sciences testing business, and Labcorp expanded specialty testing with acquisitions. This consolidates the sector and deepens testing capabilities.

    Highlights ongoing consolidation that strengthens the diagnostics ecosystem and scale.

  • Alzheimer's blood tests expected to boost Leqembi and diagnostics demand Biogen reported strong growth-portfolio sales and said blood-based diagnostics will drive Leqembi growth from 2027. This signals rising demand for Alzheimer's blood tests, supporting the diagnostics theme.

    Links a major drug launch to increased use of blood-based diagnostics, a key demand driver.

  • Proposed Medicare reimbursement cuts threaten test pricing Jefferies flagged that the preliminary 2027 CMS clinical lab fee schedule could cut reimbursement by up to 15% annually through 2029, pressuring tests like BillionToOne's fetal antigen test. This creates a real counterweight: payers paying less per test could hurt profits even as test volumes grow.

    Identifies a key risk that could offset volume growth and affect theme profitability.

Q3 2026
▲2▼1

Diagnostics Surge on Approvals and Demand, but Fee Cuts Loom

  • Record demand and raised guidance Guardant, Natera, and Tempus raised their financial outlooks on record demand for their cancer tests, showing strong adoption of precision diagnostics.

    This point highlights the strong business momentum that drove the sector.

  • New FDA clearances and acquisitions FDA cleared new cancer and Alzheimer's blood tests from Roche, Lilly, Guardant, and others, while Tempus acquired Personalis, expanding testing options and consolidation.

    This point captures key regulatory and strategic developments that expanded the sector.

  • Proposed CMS lab fee cuts threaten pricing Proposed CMS cuts to lab fees of up to 15% annually through 2029 could pressure pricing and profits, a significant counterweight to growth.

    This point identifies a major regulatory risk that could impact future earnings.

  • Grail's Galleri grows but losses persist An FDA panel backed GRAIL's Galleri and sales grew 35%, but the test still lost $110 million quarterly, and Grail faces lawsuits, highlighting challenges in multi-cancer early detection.

    This point shows both progress and ongoing financial and legal hurdles for a key player.

News & notes moving Diagnostics & Precision Testing
United States
Diagnostics & Precision Testing▲impact 4

GRAIL's Galleri Wins Favorable FDA Panel Vote After Strong PATHFINDER 2 Data

GRAIL announced in September 2026 that its Galleri multi-cancer early detection blood test showed strong performance in the PATHFINDER 2 study and received a favorable U.S. FDA advisory committee vote supporting its safety, benefit-risk profile and effectiveness for use alongside standard screening in adults aged 50 and older. The PATHFINDER 2 data indicated that adding Galleri increased cancers detected through screening more than six-fold with a very low false-positive rate, while the test also accurately pointed doctors to the likely cancer origin in over nine out of ten positive cases. The advisory committee's favorable vote and the PATHFINDER 2 results reinforce the core near-term catalyst around potential PMA approval and payer coverage, though GRAIL's high cash burn and lack of profitability remain the biggest risk. GRAIL's narrative projects $348.4 million revenue and $60.1 million earnings by 2029, with a $97.40 fair value implying a 32% downside to its current price, while some of the lowest estimate analysts were assuming only about US$277.6 million of revenue and a small US$49.4 million profit by 2029.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Regulation
Biotech & Genomic Medicine › Tools, Diagnostics & CDMO ▲Regulation
GRAL · Regulation · Positive FDA advisory committee favorable vote supports Galleri's safety and effectiveness, advancing toward potential PMA approval.
GRAL · Technology · Positive PATHFINDER 2 data showed Galleri increased cancers detected six-fold with low false positives and accurate origin identification.
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United States
Diagnostics & Precision Testing

BillionToOne Fair Value Rises to US$128.57 as Analysts Weigh Reimbursement Risk

BillionToOne's Fair Value estimate has been raised to US$128.57 from US$122.14 in the Simply Wall St framework, as analysts weigh the company's sequencing technology against new reimbursement concerns. Guggenheim lifted its price target on the diagnostics company to US$128 from US$125 ahead of Q3 reporting, while Canaccord initiated coverage with a US$120 target, citing BillionToOne's single molecule next generation sequencing and quantitative counting template technologies as difficult for peers to copy. On the bearish side, Jefferies flagged that the preliminary 2027 CMS clinical laboratory fee schedule points to cuts of up to 15% annually through 2029 for various tests, and noted BillionToOne could see reimbursement pressure on its fetal antigen test, with noninvasive prenatal testing described in the CMS proposal as a more vulnerable application. The framework's revenue growth assumption was trimmed to 26.52% from 28.21%, while profit margin edged up to 15.84% from 15.58%, the future P/E fell to 64.33x from 72.21x, and the discount rate rose to 7.236% from 7.108%.
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Biotech & Genomic Medicine › Tools, Diagnostics & CDMO Regulation
Biotech & Genomic Medicine › Life-Science Tools & Sequencing Regulation
BLLN · Capital · Neutral Fair value raised to US$128.57 and Guggenheim/Canaccord price targets lifted on its sequencing technology, but Jefferies flags up to 15% annual CMS reimbursement cuts pressuring its fetal antigen test.
BLLN · Regulation · Negative Preliminary 2027 CMS clinical laboratory fee schedule points to cuts of up to 15% annually through 2029, creating reimbursement pressure on BillionToOne's tests.
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Diagnostics & Precision Testing

Myriad Genetics Jumps 5% After Craig-Hallum Raises Price Target to $8

Myriad Genetics shares jumped 5% in the afternoon session after Craig-Hallum analyst John Wilkin raised the firm's price target on the stock to $8, according to StreetInsider. The higher price target reflects an increased valuation estimate for the genetic testing company. The move comes after a volatile stretch for the stock, which has seen 44 moves greater than 5% over the last year. Two months ago, Myriad Genetics dropped 46.1% after reporting disappointing second-quarter 2026 results that missed Wall Street's expectations and included a reduced full-year forecast, with revenue of $190.7 million, down 10.5% year-over-year, and an adjusted loss per share of $0.25. The company also slashed its full-year revenue guidance to a midpoint of $780 million, a decrease of over 10% from its previous forecast. Myriad Genetics is down 30.5% since the beginning of the year, and at $4.27 per share, it is trading 47.9% below its 52-week high of $8.18 from November 2025.
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Diagnostics & Precision Testing▲

Dexcom Report Flags CGM Growth Opportunity in Type 2 Diabetes Care

Dexcom released its 2026 "State of Type 2 Report: Global Access and Attitudes to Diabetes Technology" ahead of the 62nd Annual Meeting of the European Association for the Study of Diabetes, highlighting gaps in continuous glucose monitoring awareness and access while pointing to growing potential for combining CGM with GLP-1 therapies. The survey of more than 800 healthcare professionals and 2,500 people with Type 2 diabetes across eight countries found that 89% of HCPs believe CGM helps assess treatment adherence between appointments, yet 55% of surveyed Type 2 patients reported limited knowledge of the technology, and reimbursement and coverage challenges were cited by 90% of U.S. HCPs and 53% of HCPs in the other seven countries surveyed. Among existing users, 94% said CGM helps them manage diabetes more independently and 91% use CGM data to guide treatment decisions. The report also flagged an emerging intersection between CGM and GLP-1 therapies, with 58% of Type 2 patients taking GLP-1 medicines using CGM alongside their medication versus only 27% of Type 2 patients not using insulin, while half of HCPs expect increasing GLP-1 use to drive CGM adoption. Dexcom also partnered with Team Novo Nordisk, an all-diabetic professional cycling team principally sponsored by Novo Nordisk, to extend its visibility within the Type 1 diabetes community and create opportunities for real-world research, education and awareness.
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Biotech & Genomic Medicine › Diabetes Devices (CGM & Insulin Delivery) ▲Demand
Biotech & Genomic Medicine › Metabolic, Diabetes & Obesity ▲Demand
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Demand
DXCM · Demand · Positive Dexcom's own report flags large untapped CGM awareness/access gaps and growing CGM+GLP-1 adoption potential, supporting its product demand outlook.
NVO · Demand · Positive Report shows 58% of Type 2 patients on GLP-1 medicines use CGM and half of HCPs expect rising GLP-1 use to drive CGM adoption, plus Novo Nordisk's Team Novo Nordisk partnership with Dexcom.
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Thailand
Diagnostics & Precision Testing2

SMD forms SMD REMAC joint venture to expand medical diagnostics business, dissolves SMD Pharmaceutics

SMD Rise Public Company Limited, or SMD, informed the Stock Exchange of Thailand that its board of directors, at its 6/2569 meeting on 2 October 2569, approved the establishment of a new subsidiary named SMD REMAC (Thailand) Company Limited with registered capital of 10 million baht, divided into 100,000 ordinary shares at a par value of 100 baht each. SMD will hold 51% and REMAC Group (Thailand) Company Limited will hold 49%. The new company will provide medical diagnostic services using imaging technology in Thailand, covering X-ray, Ultrasound, CT Scan, PET/CT, MRI, radiotherapy, and digital health solutions, serving hospitals and related project customers. The company expects SMD REMAC to begin generating revenue in the second quarter of 2570, using the company's working capital as the funding source for the establishment. The transaction does not constitute a connected transaction and is not a significant transaction under the criteria of the Capital Market Supervisory Board. In addition, the board meeting approved the dissolution of SMD Pharmaceutics Company Limited, a wholly owned subsidiary in which SMD holds 100%, which operates the import and distribution of automated drug dispensing systems and related equipment and provides turnkey system installation services, because its financial performance did not meet targets.
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SMD100.BK · Capital · Positive SMD forms SMD REMAC JV (51% stake) to expand medical diagnostics imaging services, a new business venture funded by working capital.
ReMAG Group (Thailand) · Capital · Positive REMAC Group (Thailand) takes a 49% stake in the new SMD REMAC diagnostics joint venture.
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Diagnostics & Precision Testing▲

NURA Bangkok Clinic Partners with Ruamjairak Hospital to Build a Comprehensive Referral Network

NURA Bangkok Clinic, or Fujifilm DKH (Thailand) Co., Ltd., has announced a partnership with Sukhumvit 62 Medical Co., Ltd., or Ruamjairak Hospital, through the signing of a memorandum of understanding, or MOU, appointing Ruamjairak Hospital as the first Care Partner Network of NURA Bangkok Clinic. The collaboration is part of the development of a Continuity of Care Ecosystem, linking everything from preventive health checkups and early-stage risk screening to further diagnosis, access to specialist doctors, and appropriate, continuous and timely treatment. NURA Bangkok Clinic focuses on health checkups and preventive screening for cancer and heart disease through screening programs for cancer and non-communicable chronic diseases, or NCDs, using an Ultra Low-Dose CT Scan together with Fujifilm's AI-powered analysis system, under the concept of a complete examination within 120 minutes, from the start of the scan to seeing a doctor, with clients not required to fast or abstain from water beforehand. Under this collaboration, if screening results at NURA Bangkok Clinic reveal a risk or abnormality requiring further examination, clients can be referred to Ruamjairak Hospital to proceed with further diagnosis, consultation with specialist doctors, and appropriate treatment. Sittivech Sawetphat, General Manager of Fujifilm DKH (Thailand) Co., Ltd., said the company aims to encourage Thais to recognize the importance of preventive health checkups and early-stage screening for cancer and cardiovascular disease risk. Meanwhile, Apirak Apisanthanarak, Managing Director of Ruamjairak Hospital, said the collaboration reflects a shared goal of building a patient-centered healthcare system.
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NURA Bangkok Clinic · Demand · Positive NURA Bangkok Clinic partners with Ruamjairak Hospital to build a Continuity of Care referral network for its health checkup and screening clients.
Fujifilm DKSH (Thailand) Co., Ltd. · Demand · Positive NURA Bangkok Clinic (Fujifilm DKH Thailand) signs MOU making Ruamjairak Hospital its first Care Partner Network, expanding referrals for its screening services.
Ruamjairak Hospital · Demand · Positive Ruamjairak Hospital becomes the first Care Partner Network of NURA Bangkok Clinic, gaining a referral pipeline for further diagnosis and treatment.
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Diagnostics & Precision Testing

Eurofins Closes USD400m Acquisition of Element's North American Life Sciences Testing Business

Eurofins Scientific has completed its acquisition of Element Materials Technology's Life Sciences Testing Services business in North America, with the deal closing on 1 October 2026. The transaction was first announced on 20 July 2026 at an enterprise value of USD400m. The acquired business operates a network of 27 laboratories and facilities, employs approximately 750 staff, and is expected to generate annual revenues of over USD150m in 2026, with profitability similar to the Eurofins Group average. The operations will join Eurofins' BioPharma and Life businesses in North America, extending its laboratory network into key regions of the United States and Canada where it has historically been underrepresented. Eurofins CEO Dr Gilles Martin said the company welcomes Element's North American Life Sciences Testing Services teams and will build on its laboratory platform to serve customers across the continent.
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Biotech & Genomic Medicine › Tools, Diagnostics & CDMO ▲Competition
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ERF.PA · Capital · Positive Eurofins completed its USD400m acquisition of Element's North American Life Sciences Testing business, adding 27 labs and over USD150m in annual revenue.
Element Materials Technology Group · Capital · Neutral Element Materials Technology sold its North American Life Sciences Testing Services business to Eurofins for USD400m enterprise value.
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France
Diagnostics & Precision Testing▲

ABL Texcell Diagnostics Lifts 2026 Revenue Guidance to €13.5 Million - €14.0 Million

ABL Texcell Diagnostics has raised its full-year 2026 revenue guidance to between €13.5 million and €14.0 million, up from the €12.265 million target it announced on 1 June 2026. The revised range represents an increase of 10.1% to 14.1% over the initial target and year-on-year growth of 94.2% to 101.4% compared with 2025 revenue of €6.950 million. The company said the new guidance reflects first-half performance, business activity seen since the start of the second half and the expected contribution from the TEXCELL activities and assets since their acquisition. For the first half of 2026, ABL Texcell Diagnostics reported revenue of €5.415 million, up 90.0%, EBITDA of €1.315 million and an EBITDA margin of 24.3%, with EBIT of €1.115 million and net profit of €1.280 million. The Évry Commercial Court selected the company on 21 July 2026 to acquire TEXCELL's activities and assets, a deal that includes continued operations at the Genopole site in Évry-Courcouronnes and the integration of 29 employees, and the guidance counts only the acquired activities from their effective transfer date. The company also cited its first publicly announced partnership with ABIONYX Pharma for viral safety and viral clearance studies on CER-001, and shareholders approved the new corporate name ABL Texcell Diagnostics at an Extraordinary General Meeting on 17 September 2026.
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ABL Texcell Diagnostics · Capital · Positive ABL Texcell Diagnostics lifted FY2026 revenue guidance to €13.5-14.0M, up 10.1-14.1% over its June target and 94.2-101.4% YoY, reflecting H1 performance and the TEXCELL acquisition.
ABLD.PA · Capital · Positive ABL Texcell Diagnostics (formerly AbL Diagnostics) raised 2026 revenue guidance to €13.5-14.0M, up 10-14% over its June target and ~94-101% YoY, on strong H1 revenue of €5.415M and TEXCELL acquisition contribution.
ABNX.PA · Demand · Positive ABL Texcell Diagnostics cited its first publicly announced partnership with ABIONYX Pharma for viral safety and viral clearance studies on CER-001.
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United States
Diagnostics & Precision Testing

Julie Sawyer Montgomery Becomes Danaher President and CEO

Julie Sawyer Montgomery has assumed the roles of President and Chief Executive Officer of Danaher Corporation and joined the company's Board of Directors, effective today, as previously announced on August 3, 2026. Since joining Danaher in 2017, Sawyer Montgomery has held roles of increasing responsibility spanning commercial operations, research and development, and business leadership, building a track record of advancing innovation and commercial excellence and accelerating share gain. She has also contributed to optimizing the Danaher Business System to strengthen operating performance. As previously announced, Rainer Blair will serve as a senior advisor until March 31, 2027 to ensure a seamless transition. Danaher, a life sciences and diagnostics innovator with approximately 60,000 associates worldwide, trades on the New York Stock Exchange under the symbol DHR.
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DHR · · Neutral Danaher announces a CEO succession with Julie Sawyer Montgomery taking over; no clear positive or negative operational driver stated.
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Diagnostics & Precision Testing▲

Biomarkers Market to Reach $112.10B by 2031, Growing at 10.5% CAGR

The global biomarkers market is projected to grow from USD 67.95 billion in 2026 to USD 112.10 billion by 2031, a 10.5% compound annual growth rate, according to a new ResearchAndMarkets.com report. Within the market's efficacy biomarkers segment, predictive biomarkers held the largest share in 2024 and continued to lead into 2025, driven by their role in matching patients to specific therapies across oncology, autoimmune and infectious diseases. In June 2026 the FDA approved Roche's first companion diagnostic for assessing PTEN protein status in prostate cancer, the VENTANA PTEN assay. Immunoassays retained the largest share of the technology segment in 2025, with Roche's Elecsys Anti-p53 and Abbott's ARCHITECT and Alinity systems cited among the leading platforms. Asia Pacific is forecast to record the fastest regional growth from 2026 to 2031, supported by healthcare infrastructure expansion in China, India and Japan. The 732-page report profiles Roche, Merck KGaA, Abbott, Thermo Fisher Scientific, QIAGEN, Illumina and other key players.
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United States
Diagnostics & Precision Testing▲

Abbott Laboratories Launches FDA-Approved SimpleScreen CRC Blood Test in US

Abbott Laboratories has launched SimpleScreen CRC in the United States, an FDA-approved blood-based colorectal cancer screening test aimed at average-risk adults who decline traditional screening methods. The rollout comes alongside new clinical use of Abbott's Volt PFA system for atrial fibrillation and the continuation of its long-running dividend stream. Abbott's shares have fallen about 10.2% over the past month while gaining 9.5% over 90 days, leaving the 1 year total shareholder return down 22.9%, the 3 year total shareholder return up 12.2% and the 5 year total shareholder return slightly negative at 4.0%, with the stock at US$100.95. The most followed analyst narrative puts Abbott's fair value at $120.26, implying the shares are 16% undervalued, while the SWS DCF model points to a future cash flow value of $80.68. That narrative assumes scaling of the cancer diagnostics portfolio following the Exact Sciences acquisition, with 13% comparable growth in early 2026, care gap programs ramping in the second half and an expected contribution of about US$3b of 2026 sales, though ongoing Nutrition legal settlements and higher Libre expansion spending remain pressure points.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Technology
Biotech & Genomic Medicine › Tools, Diagnostics & CDMO ▲Technology
ABT · Technology · Positive Abbott launched its FDA-approved SimpleScreen CRC blood-based colorectal cancer screening test in the US, expanding its cancer diagnostics portfolio.
ABT · Capital · Neutral Analyst narrative puts fair value at $120.26 (16% undervalued) while DCF model implies $80.68, with mixed valuation signals.
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United States
Diagnostics & Precision Testing▲

Abbott launches SimpleScreen CRC blood test for colorectal cancer screening

Abbott announced the U.S. commercial launch of SimpleScreen CRC, an FDA-approved blood-based colorectal cancer screening test for adults age 45 and older at average risk for the disease. Developed and manufactured by Freenome and exclusively commercialized by Abbott, SimpleScreen CRC joins the Cologuard Plus test in Abbott's colorectal cancer screening portfolio, giving healthcare providers both stool- and blood-based options. The test was evaluated in PREEMPT CRC, the largest prospective clinical validation study for a blood-based colorectal cancer screening test, which enrolled more than 48,000 asymptomatic, average-risk adults ages 45 to 85. In a prespecified analysis adjusted to match the U.S. Census, SimpleScreen CRC demonstrated 81.1% overall sensitivity for colorectal cancer, including 63.5% sensitivity for Stage I CRC, 13.7% sensitivity for advanced precancerous lesions, and 90.4% specificity for advanced colorectal neoplasia. SimpleScreen CRC is covered by Medicare, with no out-of-pocket costs for eligible patients with Medicare Part B, while Medicare Advantage patients may have out-of-pocket costs.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Demand
ABT · Technology · Positive Abbott commercially launches FDA-approved SimpleScreen CRC blood-based colorectal cancer screening test, expanding its screening portfolio.
FRNM · Technology · Positive Freenome developed and manufactured SimpleScreen CRC, which Abbott is now exclusively commercializing in the U.S.
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European UnionGermany
Diagnostics & Precision Testing▲

Roche subsidiary TIB MOLBIOL launches newborn screening test for SMA, SCID and sickle cell disease

TIB MOLBIOL, a subsidiary of Roche Diagnostics, has launched the LightMix Newborn TREC/SMN1/HBB kit, an in vitro diagnostic test for newborn screening in countries accepting the CE mark. The test simultaneously screens for Spinal Muscular Atrophy, Severe Combined Immunodeficiency Disease, and Sickle Cell Disease, and provides private and academic hospital laboratories with a ready-to-use solution that integrates into existing workflows on established LightCycler systems. Marcus Droege, CEO of TIB MOLBIOL, said catching these diseases before symptoms appear is the difference between a child thriving or facing severe, lifelong disability, and that expanding the company's compliant newborn screening tools across Europe helps laboratories transition to high-precision solutions. Early diagnosis of SMA allows clinicians to immediately initiate targeted therapies that may halt severe nerve damage and prevent permanent disability, while early detection of SCD enables preventive penicillin and specialised immunisations that can drastically lower infant mortality, and early detection of SCID allows for lifesaving treatments such as bone marrow transplants before dangerous infections occur.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Technology
Biotech & Genomic Medicine › Tools, Diagnostics & CDMO ▲Technology
TIB MOLBIOL · Technology · Positive TIB MOLBIOL itself launched the LightMix Newborn TREC/SMN1/HBB newborn screening test
ROP.SW · Technology · Positive Roche subsidiary TIB MOLBIOL launched the LightMix Newborn TREC/SMN1/HBB diagnostic kit for SMA, SCID and sickle cell disease
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United States
Diagnostics & Precision Testing▲

Labcorp Expands Specialty Testing With Acquisitions as 2026 EPS Estimate Rises to $18.32

Labcorp Holdings is expanding in high-growth specialty testing markets while broadening its consumer testing business, with acquisitions, health-system relationships and new contracts boosting its reach. In the second quarter of 2026, the company completed acquisitions of select Parkview Health outreach laboratory services and Tribal Diagnostics, invested $225.7 million in acquisitions, and secured another Department of Defense contract to provide testing across military hospitals worldwide; net acquisitions added 1.2% to enterprise revenue growth and 1.9% to Diagnostics growth during the quarter. Enterprise adjusted operating margin expanded 70 basis points year over year to 15.8% in the second quarter of 2026, with Diagnostics margin up 50 basis points to 18% and BLS margin up 130 basis points to 17%. Management estimated that Affordable Care Act-related changes reduced second-quarter 2026 diagnostic volume by 20-30 basis points and continues to assume a 30-basis-point full-year impact, though the affected payer group represents less than 4-5% of diagnostic volume. Over the past 30 days, the Zacks Consensus Estimate for Labcorp's 2026 earnings per share has edged up 0.2% to $18.32, while the 2026 revenue consensus stands at $14.75 billion, implying 5.7% growth over 2025.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Supply
Biotech & Genomic Medicine › Tools, Diagnostics & CDMO ▲Supply
LH · Capital · Positive Labcorp completed acquisitions and posted margin expansion, with the 2026 EPS consensus estimate rising to $18.32.
LH · Demand · Positive New Department of Defense contract and health-system relationships expanded Labcorp's testing reach, adding to revenue growth.
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China
Diagnostics & Precision Testing

iHuman Posts Q2 Non-GAAP Loss of $0.05 Per ADS on $25.55M Revenue

iHuman reported a second-quarter 2026 non-GAAP loss of $0.05 per ADS on revenue of $25.55 million. Average total monthly active users for the quarter came in at 20.72 million, down from 23.97 million in the same period a year earlier. Deferred revenue and customer advances stood at RMB231.5 million, or US$34.1 million, as of June 30, 2026, compared with RMB245.1 million as of December 31, 2025. Cash, cash equivalents and short-term investments totaled RMB1,007.4 million, or US$148.5 million, as of June 30, 2026, versus RMB1,154.2 million at the end of 2025.
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Diagnostics & Precision Testing▲

Qiagen Wins FDA Clearance for QIAstat-Dx Sepsis Panel

Qiagen has received U.S. FDA clearance for its QIAstat-Dx gram-negative bloodstream infection panel, giving American laboratories full access to the company's rapid sepsis testing portfolio in a single automated system. The clearance lands after a period of mixed trading for the NYSE-listed QGEN, with the share price up 15.1% over the past 90 days but still down 5.4% year to date, while the 1-year total shareholder return of 3.2% points to modest longer term gains. A widely followed narrative puts Qiagen's fair value at $46.27, only slightly above the last close at $45.01, a tight but meaningful gap for valuation debates. On a price-to-earnings basis, the stock trades at 22.7x earnings, above a fair ratio of 20.2x but below peer levels at 44.6x and the wider Life Sciences group at 38.3x. The company's story could break if QuantiFERON immigration volumes stay weak for years and if tight research budgets keep labs delaying higher margin instrument upgrades.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Regulation
QGEN · Regulation · Positive Qiagen received FDA clearance for its QIAstat-Dx gram-negative bloodstream infection sepsis panel, expanding US lab access to its rapid sepsis testing portfolio.
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Diagnostics & Precision Testing▲2

Qiagen Wins FDA Clearance for One-Hour Sepsis Panel

QIAGEN announced that U.S. labs now have access to its full QIAstat-Dx bloodstream infection portfolio after FDA clearance of a one-hour gram-negative bacteria and antibiotic resistance panel, which complements an existing gram-positive and fungal panel. The clearance broadens QIAGEN's coverage to 33 bloodstream pathogen targets and 28 resistance markers, reinforcing the clinical relevance of its automated QIAstat-Dx platform in guiding treatment decisions for life-threatening infections like sepsis. The company's narrative projects $2.5 billion revenue and $563.2 million earnings by 2029, requiring 6.0% yearly revenue growth and about a $153.9 million earnings increase from $409.3 million today. Some of the lowest analysts were already cautious, assuming only about 4.6% annual revenue growth to roughly US$2.4 billion and earnings of US$581 million, and they worry that if new panels like QIAstat-Dx's bloodstream tests fail to convert early traction into sustained adoption, Qiagen's growth story could look very different from the consensus view.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Regulation
QGEN · Regulation · Positive FDA clearance of QIAstat-Dx one-hour gram-negative/AMR sepsis panel broadens its bloodstream infection portfolio to 33 pathogen targets.
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Diagnostics & Precision Testing

Thermo Fisher Adds cGMP CHO-K1 Panel, Evosep Deal and MRD Programs

Thermo Fisher Scientific announced several product and collaboration updates earlier this month, including the cGMP-ready Gibco CHO-K1 Catalog Panel for bioprocessing, a reseller agreement to distribute Evosep's Eno separation platform in proteomics workflows, and expanded involvement in molecular residual disease programs with Biodesix and Memorial Sloan Kettering. Together, the moves deepen Thermo Fisher's role across biologics manufacturing, advanced proteomics, and ctDNA-based cancer monitoring. The Gibco CHO-K1 Catalog Panel sits within Thermo Fisher's biopharma solutions stack alongside offerings such as CTS OpTmizer and CHOvantage cell line tools, and is positioned to support customers from development through manufacturing. Thermo Fisher's narrative projects $54.8 billion revenue and $10.0 billion earnings by 2029, with a $645.15 fair value implying 5% downside to its current price, while some of the lowest ranked analysts assume only about US$54.2 billion of revenue and US$8.7 billion of earnings by 2029. The company said persistent China and tariff risks remain a consideration for investors.
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Biotech & Genomic Medicine › CDMO / Contract Manufacturing Supply
Biotech & Genomic Medicine › Life-Science Tools & Sequencing Technology
Biotech & Genomic Medicine › Diagnostics & Precision Testing Technology
TMO · Technology · Positive Thermo Fisher launched the cGMP-ready Gibco CHO-K1 Catalog Panel and signed an Evosep reseller deal, expanding its bioprocessing and proteomics product offerings.
Evosep · Demand · Positive Evosep signed a reseller agreement with Thermo Fisher to distribute its Eno separation platform in proteomics workflows.
BDSX · Demand · Positive Thermo Fisher expanded its molecular residual disease programs with Biodesix, deepening Biodesix's ctDNA-based cancer monitoring collaboration.
Memorial Sloan Kettering Cancer Center · Demand · Positive Memorial Sloan Kettering is involved in Thermo Fisher's expanded molecular residual disease programs for ctDNA-based cancer monitoring.
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Biogen Growth Portfolio Tops Legacy MS Drugs With $1.06 Billion in Q2 2026

Biogen's growth portfolio generated $1.06 billion in second-quarter 2026 revenues, up 24% year over year and 25% sequentially, surpassing the company's legacy MS portfolio, which brought in $767 million. Even excluding newly acquired Syfovre and Empaveli, growth-product revenues reached $933 million, up 9% year over year and 10% quarter over quarter, still above the legacy MS portfolio. Within the growth portfolio, Skyclarys revenues rose 29% to $168 million, Zurzuvae increased 53% to $71 million, Spinraza grew 2% to $402 million, and Vumerity fell 7.4% to $196.5 million, while Syfovre and Empaveli contributed $97.4 million and $30.4 million respectively. Alzheimer's collaboration revenues from Eisai for Leqembi rose 16% to $63.7 million, and the companies expect blood-based diagnostics and the launch of Leqembi Iqlik to drive further growth from 2027 onward. Biogen expects the growth portfolio to maintain its lead in the second half of 2026, with Syfovre and Empaveli contributing more than in the second quarter since revenue recognition began only in mid-May.
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Biotech & Genomic Medicine › Neuroscience & Neurodegenerative ▲Demand
Biotech & Genomic Medicine › Rare Disease ▲Demand
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Demand
BIIB · Demand · Positive Biogen's growth portfolio revenue rose 24% YoY to $1.06B, surpassing legacy MS drugs on strong product sales.
4523.JP · Demand · Positive Eisai's Leqembi collaboration revenues rose 16% to $63.7M, with diagnostics and Leqembi Iqlik launch expected to drive growth from 2027.
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Mission Bio Tapestri Data From Merck and Incyte Headed to World CDx Summit

Mission Bio announced that Merck & Co. and Incyte will each present new data generated using its Assay Services and Tapestri Platform at the 16th World Clinical Biomarkers & Companion Diagnostics Summit, alongside a third presentation from Mission Bio itself featuring new clinical data in acute myeloid leukemia. Merck scientist Sydney Hart will present functional genomics findings from a targeted DNA and RNA single-cell assay built with Mission Bio's Assay Services team to study how CRISPR-edited genetic variants affect immune cell function in autoimmune and inflammatory disease, work that links target validation to drug development decision-making. Incyte's Erin Crowgey will present new single-cell clinical data on INCA033989, a monoclonal antibody targeting mutant calreticulin-positive cells in essential thrombocythemia and myelofibrosis, generated with a custom Tapestri assay measuring 46 proteins and 37 genes in the same cell, showing depletion of mutant CALR-positive cells and repopulation by wild-type cells with relevant clinical improvements. Mission Bio Chief Medical Officer Zivjena Vucetic will present clinical study data showing single-cell multiomics achieved 93% sensitivity for measurable residual disease in AML compared to 43% for flow cytometry and 71% for other molecular methods, with additional evidence supporting more accurate stratification of relapse-free survival. The three presentations illustrate how single-cell multiomics connects genetic variation to cellular function, characterizes treatment response in individual cell populations, and identifies residual disease with greater resolution across drug development pipelines.
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Biotech & Genomic Medicine › Life-Science Tools & Sequencing ▲Technology
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Technology
Mission Bio · Demand · Positive Merck and Incyte will present data generated using Mission Bio's Assay Services and Tapestri Platform, demonstrating adoption of its products by pharma customers.
INCY · Technology · Positive Incyte presents new single-cell clinical data on INCA033989 generated with Mission Bio's custom Tapestri assay, showing mutant CALR-positive cell depletion and clinical improvements.
MRK · Technology · Positive Merck scientist presents functional genomics findings from a targeted DNA/RNA single-cell assay built with Mission Bio's Assay Services to study CRISPR-edited variants in immune cells.
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Leica Biosystems Completes Acquisition of StatLab Medical Products

Leica Biosystems, a Danaher company, has completed its acquisition of privately held StatLab Medical Products, a leading provider of pre-analytical consumables and equipment, from Linden Capital Partners and Audax Private Equity. The transaction closed on September 28, 2026. The company said the deal unites StatLab's trusted portfolio and deep customer relationships with Leica Biosystems' global leadership in digital and computational pathology and AI-enabled diagnostics, expanding its end-to-end anatomic pathology ecosystem from specimen collection and preparation through advanced staining, digital imaging and AI-enabled diagnosis. Gustavo Perez-Fernandez, Group Executive of Danaher's Diagnostics Business and President of Leica Biosystems, said the combined businesses are better positioned to help laboratories achieve the consistency, standardization and quality needed to advance precision oncology at scale. Leica Biosystems said the expanded offering is designed to help pathology laboratories optimize histology workflows and reduce variation amid rising case volumes, increasing complexity and ongoing staffing pressures, and that both businesses remain focused on supporting customers with the same commitment to quality, service and partnership.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Competition
Leica Biosystems · Capital · Positive Leica Biosystems completed its acquisition of StatLab, expanding its end-to-end anatomic pathology ecosystem.
DHR · Capital · Positive Danaher's Leica Biosystems completed the StatLab acquisition, expanding its anatomic pathology portfolio.
StatLab · Capital · Positive StatLab was acquired by Leica Biosystems, uniting its pre-analytical consumables portfolio with Leica's global reach.
Linden Capital Partners · Capital · Neutral Linden Capital Partners is named only as a seller of StatLab; no impact on its own operations is described.
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Snibe Receives a Medical Device Registration Certificate from the National Medical Products Administration

Snibe announced on September 28 that it has received one Medical Device Registration Certificate issued by the National Medical Products Administration. In the first half of 2026, Snibe achieved revenue of 2.42 billion yuan and net profit attributable to the parent of 868 million yuan.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Regulation
300832.CS · Regulation · Positive Snibe received a Medical Device Registration Certificate from the National Medical Products Administration, an approval that supports its diagnostics business.
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Adaptive Biotechnologies Rises 6.02% After NCCN Guideline Update Cites clonoSEQ

Adaptive Biotechnologies is back in focus after the National Comprehensive Cancer Network updated its multiple myeloma guidelines to more fully embed minimal residual disease testing and explicitly reference the company's clonoSEQ assay. Investors reacted quickly to the guideline update, with Adaptive Biotechnologies' share price up 6.02% over the past day and posting a 12.65% 30-day share price return. The 1-year total shareholder return of 125.21% and 3-year total shareholder return above 4x suggest strong momentum that has only recently started to recover from a 5-year total shareholder return decline of 13%. The most followed narrative pegs Adaptive Biotechnologies' fair value at $26.36 against a last close of $29.57, implying the stock is 12% overvalued. The story could break if reimbursement shifts under the proposed 2027 CMS fee schedule, or if key partnerships underperform and dilute the company's MRD thesis.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Regulation
ADPT · Regulation · Positive NCCN guideline update more fully embeds MRD testing and explicitly cites Adaptive's clonoSEQ assay, a policy/guideline endorsement supporting adoption.
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FDA Panel Backs GRAIL's Galleri Multi-Cancer Blood Test

A panel of US FDA advisors voted 6-4 that there is reasonable evidence GRAIL's multi-cancer early detection blood test Galleri is effective. Members of the Molecular and Clinical Genetics Panel of the Medical Devices Advisory Committee also voted 10-0 that the test is safe and 7-2 with one abstention that its benefits outweigh the risks, which include false positive or negative readings. Panel member Victor van Berkel of University of Louisville Physicians said that if more early-stage cancers can be found in the population that cannot currently be screened for, that will end up having benefit, though some members noted the test should be used in addition to current cancer screening methods rather than as a replacement. While Galleri is currently available in the US through cash payment, approval would mean coverage by Medicare and private insurance. A decision from the FDA is expected in the first part of 2027.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Regulation
GRAL · Regulation · Positive FDA advisory panel voted that GRAIL's Galleri multi-cancer blood test is effective, safe, and benefits outweigh risks, advancing it toward FDA approval and Medicare/private insurance coverage.
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Maccura Biotechnology Obtains Three Medical Device Registration Certificates

Maccura Biotechnology announced that the company recently received Medical Device Registration Certificates issued by the Sichuan Provincial Medical Products Administration, covering a total type I collagen amino-terminal extension peptide assay kit, a beta-collagen special sequence assay kit, and an osteocalcin assay kit. All are direct chemiluminescence reagents used to assist in the diagnosis of osteoporosis. To date, the company has obtained a cumulative total of 145 reagent product registration certificates on its direct chemiluminescence platform.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Regulation
300463.CS · Technology · Positive Maccura received three new medical device registration certificates for osteoporosis diagnostic chemiluminescence reagent kits, expanding its product portfolio.
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Yangpu Medical Subsidiary Completes EU IVDR Quality Management System Certificate Renewal

Yangpu Medical announced on September 24 that its wholly-owned subsidiary, Guangzhou Yangpu Medical Devices Co., Ltd., has completed the renewal of its EU Quality Management System certificate under the In Vitro Diagnostic Regulation, and obtained a newly issued EU Quality Management System certificate from the international certification body TÜV SÜD. The announcement said that passing this renewal means the sterile sample container products manufactured by Yangpu Medical Devices meet the requirements of EU Regulation IVDR 2017/746, giving them the necessary conditions to enter the EU market and having a positive impact on the company's overseas sales of related products. In the first half of 2026, Yangpu Medical achieved revenue of 215 million yuan and net profit attributable to the parent company of 30.81 million yuan.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Regulation
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Siemens Healthineers and Novo Team Up on MASLD and MASH Liver Diagnostics

Siemens Healthineers and Novo announced a new collaboration to address MASLD and MASH using non-invasive diagnostics. The partnership focuses on expanding disease awareness and clinical use of less invasive tools for assessing liver health and progression risk, with both groups aiming to support earlier identification of at-risk patients. Siemens Healthineers, a €41.5b medical equipment group, sells diagnostic and therapeutic technologies to hospitals and clinics worldwide, giving it a direct route to embed new non-invasive liver tools into everyday clinical workflows for metabolic disease care. The agreement plugs into Siemens Healthineers' push toward higher quality, recurring revenue through diagnostics, digital tools and AI driven decision support, and the link to Novo speaks to its role in chronic disease management. Investors can watch for concrete signs that MASLD and MASH testing is actually being used, such as new contracts tied to non invasive liver panels, updates on test volumes in metabolic disease programs with Novo, or commentary in upcoming results calls.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Demand
Biotech & Genomic Medicine › Metabolic, Diabetes & Obesity ▲Demand
SHL.XETRA · Demand · Positive Collaboration with Novo to expand clinical use of its non-invasive MASLD/MASH liver diagnostics opens a route to embed new tools in workflows and win testing contracts.
Novo · Demand · Positive Novo teams with Siemens Healthineers to boost awareness and earlier identification of MASLD/MASH patients, supporting its metabolic disease franchise.
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Polaris Flags Lantheus Rally on Earnings, FDA Approval, $7 Billion Curium Bid

Polaris Capital Management's Global Equity Strategy highlighted Lantheus Holdings in its second-quarter 2026 investor letter, citing strong quarterly earnings, the FDA approval of PYLARIFY TruVu, and intensified M&A interest from a potential $7 billion takeover bid by PE-backed Curium Pharma. The Polaris Global Equity Composite returned 13.26% net of fees for the quarter, trailing the MSCI World Index's 13.90% return with gross dividends reinvested, but remained ahead year-to-date through June 30, 2026, gaining 19.95% versus 9.94% for the benchmark. Lantheus closed at $100.28 per share on September 22, 2026, down 0.58% over the past month but up 92.62% over the past 52 weeks, with a market capitalization of $6.55 billion and a 52-week range of $49.67 to $111.86. Forty hedge fund portfolios held Lantheus at the end of the second quarter, up from 31 in the previous quarter.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Regulation
LNTH · Capital · Positive Strong quarterly earnings, FDA approval of PYLARIFY TruVu, and a $7 billion takeover bid from Curium all cited as drivers of the rally.
Polaris Capital Management · · Neutral Polaris is the letter's author, mentioned only for its fund performance, not a company-specific development.
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Asia Plus highlights BH and BDMS as beneficiaries of personalised cancer vaccine theme

Asia Plus Securities stated that the Government Pharmaceutical Organization, together with Chulalongkorn University and Seqker Biosciences, is developing a personalised cancer vaccine that uses patients' genetic data to stimulate the immune system to attack cancer cells specifically. The vaccine is currently in phase 3-4 clinical research and has begun use in two foreign patients, with plans to extend into Medical Visa services and expand to state hospitals. The goal is to reduce treatment costs from 4-7 million baht to around 1 million baht. The research team views the private hospital sector positively over the medium to long term, because personalised cancer vaccines tend to complement Precision Medicine and Immunotherapy rather than replace existing treatments, creating opportunities to increase revenue per patient throughout the cancer treatment process, from genetic testing and laboratories to treatment and follow-up. It assesses that BH and BDMS are the main beneficiaries, maintains an overweight stance on the hospital sector relative to the market, and keeps buy recommendations on BH and BDMS with 2027 fair values of 225.00 baht and 25.00 baht respectively.
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Biotech & Genomic Medicine › Oncology Therapeutics ▲Technology
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Demand
Biotech & Genomic Medicine › Immuno-Oncology / Checkpoint ▲Technology
BDMS.BK · Demand · Positive Named as a main beneficiary of the personalised cancer vaccine theme, with buy rating and 25.00 baht 2027 fair value on expected higher revenue per cancer patient.
BH.BK · Demand · Positive Named as a main beneficiary of the personalised cancer vaccine theme, with buy rating and 225.00 baht 2027 fair value on expected higher revenue per cancer patient.
Seqker Biosciences · Technology · Positive Seqker Biosciences is co-developing the personalised cancer vaccine now in phase 3-4 clinical research and beginning use in foreign patients.
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Diagnostics & Precision Testing▲3

Ten ministries release 15th Five-Year Plan for the pharmaceutical industry; total out-licensing value of innovative drugs exceeds 120 billion US dollars

The Ministry of Industry and Information Technology and nine other ministries jointly released the 15th Five-Year Plan for the Development of the Pharmaceutical Industry, explicitly positioning biomedicine as a national emerging pillar industry and setting quantitative targets including revenue of pharmaceutical enterprises above designated size exceeding 3.5 trillion yuan by 2030 and average annual growth of the innovative drug industry above 20 percent. The National Medical Products Administration recently issued the world's first medical device standard for AI-based EEG brain-computer interface data, marking a new stage of standardized regulation for the integration of AI and medical hardware. At the industry level, the pace of Chinese innovative drugs going overseas has accelerated further this year, with total out-licensing transaction value exceeding 120 billion US dollars, up 36 percent year on year, of which upfront payments exceeded 10 billion US dollars. Huayuan Securities research notes point out that the policy environment for innovative drugs has improved on both the approval and payment sides, clinical CRO demand continues to recover, and the market is expected to keep expanding. Driven by this, as of 10:06 on September 23, 2026, the underlying index of Penghua STAR Market Pharmaceutical ETF, the SSE STAR Market Biomedical Index, rose 1.28 percent, with constituent stocks HOB Biotech up 20.00 percent, Medicilon up 7.62 percent, and Haoyuan Chemexpress up 7.24 percent; the underlying index of Penghua Vaccine ETF, the CNI Vaccine and Biotechnology Index, rose 1.13 percent.
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Brain-Computer Interface › Non-invasive BCI & Neurotech ▲Regulation
Biotech & Genomic Medicine › Oncology Therapeutics ▲Regulation
Biotech & Genomic Medicine › Tools, Diagnostics & CDMO ▲Demand
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Regulation
Brain-Computer Interface › Neural Signal Processing & Brain-Mapping Tools ▲Regulation
688131.CG · Demand · Positive Named constituent rising as part of the STAR Market biomedical index rally driven by the 15th Five-Year Plan and recovering innovative-drug/CRO demand.
688202.CG · Demand · Positive Named constituent up 7.62% amid the policy-driven rally, with Huayuan Securities noting clinical CRO demand continues to recover.
688656.CG · Demand · Positive Named constituent up 20.00% as part of the STAR Market biomedical index rally tied to the pharmaceutical Five-Year Plan.
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Goldman Sachs Starts Tempus AI at Neutral With $75 Target

Goldman Sachs initiated coverage of Tempus AI with a Neutral rating and a $75 price target on September 21, flagging renewal risk in the company's data business even as diagnostics growth stays visible. The call landed the same day Tempus announced an extension of its partnership with Recursion Pharmaceuticals through 2029, replacing potentially discretionary fees with $42 million of committed payments. Tempus generated $382.5 million of second-quarter revenue, up 22% year-over-year, with Diagnostics revenue up 20% to $289.3 million, oncology volumes up 31%, and MRD testing at 9,000 tests, up 38% from the prior quarter. The Data and Applications segment grew faster, with revenue up 28% in the quarter and Insights revenue up 36%, alongside roughly $200 million in new Data and Applications licenses signed during the quarter. Management estimates FDA approval of tumor-only xT CDx could add about $85 million of annual revenue beginning in 2027, while the company also received FDA clearance for a third cardiovascular AI product and was selected for an ARPA-H program worth up to $9.5 million. Short interest stood at 29.46 million shares, or 29.17% of the float, down from 33.23 million a month earlier, while ARK Investment Management raised its stake 5% to 10.02 million shares and Citadel expanded its position 318% to 2.51 million shares.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Demand
Biotech & Genomic Medicine › AI Drug Discovery Competition
TEM · Capital · Neutral Goldman started Tempus at Neutral with a $75 target, flagging renewal risk in the data business.
TEM · Demand · Positive Tempus posted 22% Q2 revenue growth with diagnostics and data licenses, plus an extended Recursion deal and FDA clearances.
GS · Capital · Neutral Goldman initiated coverage of Tempus AI at Neutral with a $75 target, an analyst action by the firm itself.
RXRX · Demand · Positive Tempus extended its partnership with Recursion through 2029, replacing discretionary fees with $42M of committed payments.
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AbbVie Q2 Revenue Rises 10.2% to $16.99 Billion, Beating Estimates

AbbVie reported second-quarter revenues of $16.99 billion, up 10.2% year on year and 1.2% above analysts' consensus expectations, though the quarter was mixed with only a narrow beat of EPS estimates and a slight miss of full-year EPS guidance estimates. The results came as the 11 therapeutics stocks tracked by the report collectively beat consensus revenue estimates by 8% in Q2, with share prices up 24.8% on average since the latest earnings results. Biogen posted the group's best quarter, with revenues of $2.74 billion, up 3.4% year on year and 12.1% above expectations, while Myriad Genetics delivered the weakest performance, reporting revenues of $190.7 million, down 10.5% year on year and 8.2% below expectations, alongside full-year revenue guidance that missed and a significant EPS miss. Gilead Sciences reported revenues of $7.80 billion, up 10.2% year on year and 6.2% above expectations, and Moderna reported revenues of $145 million, up 2.1% year on year and 35.8% above expectations, the biggest analyst estimate beat of the group. AbbVie's stock is up 2.9% since reporting and currently trades at $264.79.
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Biotech & Genomic Medicine › Autoimmune & Immunology Therapeutics ▲Demand
Biotech & Genomic Medicine › Oncology Therapeutics ▲Demand
Biotech & Genomic Medicine › RNA Therapeutics ▲Demand
Biotech & Genomic Medicine › Neuroscience & Neurodegenerative ▲Demand
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▼Demand
ABBV · Capital · Positive AbbVie Q2 revenue rose 10.2% to $16.99B, beating consensus, though EPS beat was narrow and full-year EPS guidance slightly missed.
BIIB · Capital · Positive Biogen posted the group's best quarter with revenue of $2.74B, up 3.4% YoY and 12.1% above expectations.
GILD · Capital · Positive Gilead reported revenue of $7.80B, up 10.2% YoY and 6.2% above expectations.
MRNA · Capital · Positive Moderna reported revenue of $145M, up 2.1% YoY and 35.8% above expectations, the biggest estimate beat of the group.
MYGN · Capital · Negative Myriad Genetics delivered the weakest performance with revenue down 10.5% YoY, an 8.2% miss, full-year guidance miss, and significant EPS miss.
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Agilent Launches CE-IVD TapeStationDx Systems for Clinical NGS Quality Control

Agilent Technologies Inc. announced the launch of the Agilent 4150 TapeStationDx system, the Agilent 4200 TapeStationDx system and Agilent TapeStationDx software, extending its automated electrophoresis portfolio into regulated clinical laboratory environments. The new CE-IVD-labeled systems and software are designed to support standardized and traceable quality control of DNA and RNA samples used in clinical next-generation sequencing workflows, and Agilent said it is among the first providers to offer CE-IVD-labeled automated electrophoresis solutions for clinical NGS sample quality control in the launch regions. The 4150 TapeStationDx system supports lower-throughput laboratories with the flexibility to analyze 1 to 16 samples using tube strips, while the 4200 TapeStationDx system provides scalable throughput from 1 to 96 samples using either tube strips or 96-well plates at a constant cost per sample, with both systems delivering automated sample quality control in approximately 1 to 2 minutes per sample. The accompanying TapeStationDx software controls data acquisition and analysis and includes reporting and data export capabilities, with data integrity features such as audit trails and electronic signatures to help laboratories support compliance with regulations including 21 CFR Part 11 and EU Annex 11. The systems and software are available in the United States, Canada and select European markets including Austria, Belgium, Luxembourg, Switzerland, Germany, Denmark, Spain, Finland, France, the United Kingdom, Ireland, Italy, the Netherlands and Sweden, and Agilent will showcase the portfolio at the Italian Society of Human Genetics National Congress, the American Society of Human Genetics Annual Meeting and the Association for Molecular Pathology Annual Meeting.
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Biotech & Genomic Medicine › Life-Science Tools & Sequencing ▲Technology
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Technology
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Thai Life Insurance Partners with BDMS to Offer Health Benefits to LiveVerse Customers

Thai Life Insurance, or TLI, has announced a partnership with Bangkok Dusit Medical Services Public Company Limited, or BDMS, to provide special health benefits to customers of the "Thai Life Insurance LiveVerse" insurance plan, covering prevention and screening, treatment, and health rehabilitation. Mr. Chan Hao Chong, Senior Assistant Managing Director and Chief Proposition Officer of TLI, said that LiveVerse is a plan that allows lifetime life planning, or One Account for a Lifetime. The first plan launched is Thai Life Insurance LiveVerse Wealth Fit 99/99. The special benefits from BDMS are divided into three main categories. The first is core privileges, such as the Cancer Navigator service, specially priced surgical packages, and the Cancer Recovery Package. Next are optional health services, from which customers can choose one item, such as a hospital discount coupon worth 1,000 baht and a basic cancer screening program. The third category is special services for families when a Family Account is linked, which includes a program to assess the risk of 10 types of cancer using the Cancer Look Out genetic testing kit and SPOT-MAS technology, as well as a program to detect Alzheimer's disease risk. Customers can check their benefits and claim coupon codes through the Thai Life Insurance application, with claims available from today until May 31, 2570, and services accessible until June 30, 2570.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Demand
Aging Population › Retirement Income & Annuities Demand
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Tempus AI Wins ARPA-H Award of Up to $9.5 Million for Heart Failure Agent

Tempus AI said on September 9 that ARPA-H, a US health research agency, selected it to build an AI agent intended to treat heart failure patients without a clinician stepping in, an award worth up to $9.5 million. The money covers building the agent and testing it in a multi-center prospective study, not selling it, and nothing announced so far shows the agent works. Tempus is not starting from scratch: its care-gap tool Tempus Next has combed through more than 2.7 million cardiology patients, and the company holds three FDA-cleared ECG products. For the quarter ended June 30, reported on July 30, revenue rose 22% to $382.5 million, led by oncology testing volume up 31%, while data licensing grew 36%, and the company held $820.7 million in cash and marketable securities. Tempus posted net income of $5.6 million in the June quarter, but that leaned on $98.5 million in unrealized gains on marketable securities, and loss from operations widened 23% from a year earlier, while its Personalis acquisition, announced July 20 at about $1.5 billion in enterprise value, is expected to close in late Q4 2026 or early 2027.
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Artificial Intelligence › Agentic AI & Autonomous Workflows Technology
Biotech & Genomic Medicine › Diagnostics & Precision Testing Technology
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IDEXX Reaffirms 10% Organic Revenue, 15% EPS Growth Targets

IDEXX Laboratories reaffirmed its long-term growth targets of more than 10% organic revenue growth and more than 15% earnings-per-share growth, with Chief Executive Officer Mike Erickson citing an exceptional second quarter and double-digit growth in reference laboratory and VetLab recurring revenue during the Morgan Stanley Global Healthcare Conference. The company's guidance incorporates an approximately 1.5% decline in clinical veterinary visits in the second half at the midpoint of its outlook, though Chief Financial Officer Andrew Emerson noted first-half results came in somewhat better than expected. IDEXX sees a $45 billion global diagnostics total addressable market and said bloodwork inclusion in wellness visits has risen about 50 basis points annually across the sector, while pets are living roughly 1.5 years longer than a decade ago, a 12% lifespan increase that has lifted diagnostic lifetime value by at least 16%. On the pipeline, the inVue Dx cytology platform is already within its targeted range of $3,500 to $5,500 in annual recurring revenue per instrument, with fine-needle aspirate testing in a controlled launch ahead of broader availability by year-end, and the Cancer Dx test is expanding from lymphoma into a multi-cancer panel covering lymphoma, mast cell tumors and hemangiosarcoma at a price of $15 when paired with a bloodwork panel. IDEXX has nearly 80,000 Catalyst instruments installed globally and expects to introduce proBNP testing on Catalyst in October, while maintaining a full-year comparable operating margin target above 32% and targeting average annual operating-margin expansion of 50 to 100 basis points over time.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Demand
IDXX · Capital · Positive IDEXX reaffirmed long-term targets of >10% organic revenue growth and >15% EPS growth, citing an exceptional Q2 and maintaining a >32% operating margin target.
IDXX · Technology · Positive Pipeline progress: inVue Dx cytology platform hitting its ARR target, Cancer Dx expanding to a multi-cancer panel, and proBNP testing launching on Catalyst in October.
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Novo Rebrands as Novo, Lilly Wins FDA Nod, GE HealthCare Nears $1B Sofie Deal

Novo Nordisk will shorten its name to Novo and update its logo, with its trademark bull shifting to face right, as the Danish drugmaker battles Eli Lilly for dominance in the obesity-drug market. CEO Mike Doustdar is pushing to make Novo leaner and more competitive, and the company will detail its updated corporate strategy at a Capital Markets Day on September 21 in London. Separately, Eli Lilly said the U.S. FDA granted full approval for an all-oral regimen combining its estrogen receptor antagonist Inluriyo and kinase inhibitor Verzenio as a late-line option for adults with estrogen receptor-positive, HER2-negative breast cancer with an ESR1 mutation whose disease progressed after one or more prior endocrine therapies. GE HealthCare Technologies is in advanced talks to acquire Sofie Biosciences for about $1 billion, a deal that would expand its presence in radioactive diagnostic agents used with medical scans, according to the Financial Times. Summit Therapeutics said ivonescimab reduced the risk of death by 27% versus Merck's Keytruda in a late-stage lung cancer trial, with median overall survival of 30.8 months versus 22.6 months. Medtronic launched an exchange offer to split off at least 80.1% of MiniMed Group, allowing shareholders to exchange ordinary shares for MiniMed common stock at a 7% discount.
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Biotech & Genomic Medicine › Immuno-Oncology / Checkpoint ▼Competition
Biotech & Genomic Medicine › Oncology Therapeutics ▲Technology
Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Capital
Biotech & Genomic Medicine › Metabolic, Diabetes & Obesity Competition
Biotech & Genomic Medicine › Diabetes Devices (CGM & Insulin Delivery) Capital
GEHC · Capital · Positive GE HealthCare in advanced talks to acquire Sofie Biosciences for about $1 billion, expanding its radioactive diagnostic agents business.
LLY · Regulation · Positive FDA granted full approval for Lilly's all-oral Inluriyo plus Verzenio regimen for ESR1-mutant ER-positive, HER2-negative breast cancer.
MDT · Capital · Positive Medtronic launched an exchange offer to split off at least 80.1% of MiniMed Group at a 7% discount.
NVO · Capital · Neutral Novo rebrands and shortens name to Novo, with CEO pushing to make it leaner and more competitive ahead of a Sept 21 Capital Markets Day strategy update.
Sofie Biosciences · Capital · Positive GE HealthCare is in advanced talks to acquire Sofie Biosciences for about $1 billion, expanding its radioactive diagnostic agents business.
MMED · Capital · Positive MiniMed is being split off from Medtronic via an exchange offer at a 7% discount, creating its own public listing.
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S&P Global, Pearson, GE HealthCare Lead Week's Key Deals

S&P Global agreed to acquire on-chain security assessments platform OpenZeppelin, one of a series of deals reported across sectors this week. Pearson announced the acquisition of ITS, a Baltimore-based assessment technology provider specializing in the management, delivery, and reporting of testing programs, with financial terms not disclosed. GE HealthCare Technologies is in advanced talks to acquire Sofie Biosciences for about $1 billion, a move that would expand its presence in radioactive diagnostic agents used with medical scans, according to the Financial Times. Brookfield agreed to acquire plumbing products manufacturer Reliance Worldwide for about $2.9B in an all-cash deal, valuing Reliance at $3.38 per share, equivalent to A$4.75 per share, a roughly 32% premium to its August 17 closing price. Mistras Group agreed to be acquired by investment firm H.I.G. Capital in an all-cash deal with an $866M enterprise value, including debt, while Aethlon Medical shares soared 346% premarket after it agreed to an all-stock merger with North Immunology, and Reuters reported that state-owned China Rare Earth Group is in talks to acquire Shenghe Resources.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Competition
Critical Materials & Supply Chain › Rare Earths & Permanent Magnets Competition
Digital Finance & Tokenization › Real-World Asset Tokenization Technology
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Tempus AI Plans 100,000-Genome Research Platform After Personalis Acquisition

Tempus AI is building a research platform based on 100,000 whole genomes linked to long term clinical records, a project that follows its $1.5 billion acquisition of Personalis. The Personalis deal strengthens Tempus' position in molecular residual disease testing, expanding the company from diagnosing and selecting cancer treatments into monitoring patients for cancer recurrence. The new whole genome project arrives after a sharp run in the shares, with a 90 day share price return of 62.68% and a 7 day gain of 31.91%, though the 1 year total shareholder return shows an 11.79% decline. Tempus AI closed at $77.84 against a narrative fair value estimate of $75.68, a level at which 26 investors see the stock as 3% overvalued. The company still carries ongoing losses and meaningful debt, so any setback integrating Personalis could quickly challenge the upbeat narrative.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Technology
Biotech & Genomic Medicine › Life-Science Tools & Sequencing ▲Demand
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Agilent Launches S540MD Slide Scanner in US After Strong Quarter

Agilent Technologies launched the Agilent S540MD, a slide scanner that holds up to 540 glass slides at once, in the United States on September 4, following its January debut in select European markets. The FDA-cleared scanner is built for high-volume pathology labs preparing for AI-assisted workflows, can be refilled while running, fits standard racks, and uses automated scan modes and tissue detection; Majken Nielsen, who runs Agilent's Clinical Diagnostics Division, framed it as a way to tie digitization to customers' staining workflows. The launch lands alongside Agilent's August 26 report of $1.88 billion in revenue for the quarter ended July 31, up 8.1% from a year earlier, with non-GAAP earnings per share up 18%, and management raised full-year non-GAAP earnings guidance to $6.18 to $6.21 per share. The S540MD is a rebadged Hamamatsu NanoZoomer S540MD, and Agilent offered no pricing, unit targets, or revenue estimate for it. Tariff refunds added $0.06 to non-GAAP earnings per share and feed into the raised outlook, while the fourth-quarter guide assumes no further refunds and calls for core revenue growth of 5.2% to 6.2%, down from 7.3% in the third quarter.
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Biotech & Genomic Medicine › Diagnostics & Precision Testing ▲Technology
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