OCDX - OCDX STOCK NEWS

Ortho Clinical Diagnostics reported a strong first quarter with revenue growth of 24.2%, totaling $506.8 million. Core revenue rose 23.5% to $499.3 million. Operating income soared 382% to $57.4 million, while adjusted net income was $54.9 million. The company raised its 2021 guidance for core revenue growth to 9%-11% and adjusted EBITDA growth to 14%-16.5%. Despite a net loss of $39.1 million, the results show ongoing recovery from the pandemic and confidence in future performance.

Ortho Clinical Diagnostics has announced the launch of its VITROS^® Anti-SARS-CoV-2 IgG Quantitative Antibody test, which recently received CE Mark approval. This test is traceable to the WHO International Standard, allowing standardized assessment of immune responses to SARS-CoV-2 infection or vaccination. With 100% specificity and excellent sensitivity, it can process up to 6.8 million tests daily and aims to manufacture eight million tests per month. This development enhances capabilities for tracking the immune response in the ongoing fight against the COVID-19 pandemic.

Ortho Clinical Diagnostics (Nasdaq: OCDX) announced the launch of the enhanced ORTHO VISION Swift and Max Swift Analyzers, aimed at improving processing power and data security for blood banks. The solutions automate over 99% of daily workloads, provide reliable results regardless of menu complexity, and feature advanced AI antivirus technology. This innovation follows the company's recognition with an Edison Award and aims to reinforce its leadership in transfusion medicine. More than 4,000 units are already installed globally.

Ortho Clinical Diagnostics (NASDAQ: OCDX) received a silver Edison Award for its VITROS® COVID-19 testing solutions, acknowledged for excellence in innovation. This marks the company's fourth Edison Award, highlighting its commitment to delivering reliable mass-scale testing during the pandemic. The VITROS® Anti-SARS-CoV-2 Total and IgG Antibody Tests, along with the SARS-CoV-2 Antigen Test, were recognized for their rapid, accurate results. Ortho's tests are FDA EUA authorized and have achieved CE Mark, showcasing their significant role in addressing COVID-19 diagnostic needs.

Ortho Clinical Diagnostics (Nasdaq: OCDX) will report its first quarter 2021 results on May 5, 2021, after market close. A conference call is scheduled for the same day at 5:00 PM ET, accessible via the Company’s website and by phone. Ortho is a leading in vitro diagnostics company that impacts over 800,000 patients daily with innovative testing solutions. Their services enhance clinical outcomes and improve efficiency. The company has a history of pioneering diagnostic technology, including COVID-19 testing.

Ortho Clinical Diagnostics (Nasdaq: OCDX) announced that its VITROS® SARS-CoV-2 Antigen Test received CE Marking, enhancing its testing capabilities amid the COVID-19 pandemic. The updated test allows for more convenient nasal sample collection and includes three additional viral transport media options. The test shows a sensitivity of 98% for nasopharyngeal and 92.3% for nasal samples. Initially launched in October 2020, it enables rapid, bulk testing, processing up to 130 tests per hour, aiding in addressing testing backlogs.

Ortho Clinical Diagnostics (Nasdaq: OCDX) announced a new contract worth $53.7 million with BARDA and the U.S. Department of Defense to expand its COVID-19 testing capacity. The contract aims to increase domestic production by providing up to 6.7 million COVID-19 tests per month over the next 12-14 months. This expansion includes enhancements to its VITROS® Systems and two antibody tests, thus improving access to accurate testing, particularly for underserved communities. The contract reinforces the company's ongoing commitment to bolster the U.S. testing infrastructure.

Ortho Clinical Diagnostics (OCDX) announced that the VITROS® SARS-CoV-2 Antigen Test received updated Emergency Use Authorization (EUA) from the FDA, enhancing its claims. The test now shows 94.8% sensitivity for samples with a PCR cycle threshold below 30, promoting effective COVID-19 detection in infectious individuals. New specimen collection methods using nasal samples and additional viral transport media options are also authorized, improving accessibility and testing volume. This advancement is pivotal for addressing ongoing COVID-19 testing needs in the U.S.

Ortho Clinical Diagnostics (Nasdaq: OCDX) reported a 9.1% revenue increase to $516.6 million for Q4 2020, exceeding expectations. Core revenue also saw a 9.1% growth, reaching $501.0 million. While operating income rose by 33.3% to $40.4 million, the company faced a net loss of $40.9 million or ($0.28) per diluted share. Adjusted net income was $29.1 million or $0.19 per share. The company projects a 7% to 9% growth in core revenue for 2021, supported by strong momentum in its integrated instruments and COVID-19 product offerings.