Key Developments: Illumina Inc (ILMN.O)
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17 May 2013
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Latest Key Developments (Source: Significant Developments)
Illumina Inc Announces Favorable Outcome Of Its Patent Litigation Against Life Technologies Inc
Illumina Inc announced that District Court Judge Cathy Ann Bencivengo of the U.S. District Court for the Southern District of California granted Illumina`s motion for summary judgment that its sequencing systems do not infringe U.S. Patent Nos. 5,616,478; 5,958,698 and 6,001,568, being asserted by Life Technologies Corporation in a lawsuit filed against Illumina in 2009. The Court ruled that, Life Tech cannot establish, as a matter of law, that the accused Illumina systems infringe the patents. Full Article
Illumina Inc Announces Outcome Of Patent Litigation Against Syntrix Biosystems, Inc.
Illumina Inc announced that a federal jury in Tacoma, Washington found that Illumina`s BeadChip array product infringed U.S. Patent No. 6,951, 682, asserted by Syntrix Biosystems, Inc. The federal jury ordered Illumina to pay approximately $96 million in damages to Syntrix based on a royalty rate of six percent for BeadChip products sold by Illumina from 2005 through May 2012. United States District Court Judge Benjamin H. Settle, however, dismissed from the case claims that Illumina`s alleged infringement was willful and that Illumina misappropriated Syntrix`s trade secrets. The Syntrix patent expires on September 17, 2019. Illumina continues to believe that Syntrix`s claims are without merit. Illumina intends to file post-trial motions asking the court to vacate the jury`s finding and to rule as a matter of law that the BeadChip does not infringe Syntrix`s patent. Full Article
Illumina Inc Reaffirms FY 2013 Revenue Guidance-Conference Call
Illumina Inc announced that for fiscal 2013, it expects 15% revenue growth year-over-year all included. The Company reported revenue of $1.15 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.320 billion for fiscal 2013. Full Article
Illumina Inc Completes Acquisition Of Verinata Health Inc
Illumina Inc announced it has completed its previously announced acquisition of Verinata Health, Inc., a provider of non-invasive tests for the early identification of fetal chromosomal abnormalities. As of the close, Verinata Health became a wholly owned subsidiary of Illumina. With completion of the acquisition, Illumina now has access to Verinata`s verifi prenatal test and to the most comprehensive intellectual property portfolio in the NIPT industry. As previously announced, the verifi test will continue to be offered through Verinata`s CLIA- and CAP-accredited laboratory, and the company will continue to generate the clinical data necessary for future regulatory submissions. Terms of the transaction were not disclosed. Full Article
Illumina Inc Issues FY 2013 Mixed Guidance
Illumina Inc announced that for fiscal 2013, it expects 15% total revenue growth and non-GAAP earnings per fully diluted share of $1.55 to $1.62, including the pending Verinata acquisition. The Company reported revenue of $1.15 billion in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.276 billion and EPS of $1.71 for fiscal 2013. Full Article
Illumina Inc Issues Q4 2012 Revenue Guidance In Line With Analysts' Estimates; Comments On Q4 2012 EPS Guidance; Comments On FY 2013 Revenue guidance-Confernece Call
Illumina Inc announced that overall incoming orders were quite strong during the fourth quarter, and that drove fourth quarter 2012 unaudited revenue of approximately $309 million, first quarter ever over $300 million in revenue. With respect to EPS, it is tracking to the midpoint of projected range with the higher revenue effects being offset by the lack of the R&D tax credit which it is expected to have in the fourth quarter 2012, resulting in a year-over-year EPS growth of about 21%. In fiscal 2013, it is currently expecting revenue growth in the range of about 15%. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $302 million and EPS of $0.42 for the fourth quarter of 2012. Full Article
Illumina Inc Signs Definitive Agreement To Acquire Verinata Health, Inc
Illumina Inc announced that it has signed a definitive agreement to acquire Verinata Health, Inc., a provider of non-invasive tests for the early identification of fetal chromosomal abnormalities, for consideration of $350 million plus up to $100 million in milestone payments through 2015. Upon completion of the acquisition, Illumina will have access to Verinata’s verifi prenatal test, the broadest non-invasive prenatal test (NIPT) available for high-risk pregnancies. Full Article
Complete Genomics Inc Rejects Illumina Inc's Buyout Offer-Reuters
Reuters reported that Illumina Inc said smaller peer Complete Genomics Inc rejected its takeover bid of about $114 million. Complete Genomics had agreed to be bought by China's BGI-Shenzhen in September for $3.15 per share, three months after the gene sequencing company started a strategic review. Illumina on Friday revealed its bid of $3.30 per Complete Genomics share. In a filing on Wednesday, Illumina said its bid was superior and unlike the BGI bid, was not contingent on financing or subject to government approval as a foreign investment. Full Article
Illumina Inc Comments On A Ruling In Its Patent Litigation Against Complete Genomics, Inc.
Illumina Inc announced that Magistrate Judge Elizabeth D. LaPorte of the U.S. District Court for the Northern District of California granted a motion for summary judgment of invalidity filed by Complete Genomics, Inc. against certain claims of Illumina`s U.S. Patent No. 6,306,597. Over Illumina`s objections, the Court found that these claims were not novel over the prior art. The summary judgment ruling did not address a number of additional patent claims being asserted by Illumina against Complete Genomics that were not the subject of the validity motion. Full Article
Illumina Inc Acquires BlueGnome
Illumina Inc announced that it has acquired Cambridge, U.K.based BlueGnome Ltd. for an undisclosed sum. BlueGnome, is now a wholly owned subsidiary of Illumina, is a provider of solutions for the screening of genetic abnormalities associated with developmental delay, cancer, and infertility. Full Article
BRIEF-Illumina shares up 4.3 pct after the bell
NEW YORK, April 22 - Illumina Inc : * Shares up 4.3 percent after the bell following results
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