OraSure Technologies and Others Join Forces for HIV Testing Day
June 26 2019 - 5:00PM
National HIV Testing Day will be commemorated on June 27 across the
nation with efforts to raise awareness of HIV and encourage people
to get tested and know their HIV status. OraSure Technologies, Inc.
(NASDAQ:OSUR), a leader in point-of-care diagnostic tests and
specimen collection devices, is joining with multiple organizations
to offer free HIV testing across the country in support of National
HIV Testing Day.
More than 1.1 million people are affected with HIV in the United
States, and the Centers for Disease Control and Prevention (CDC)
estimates that one in seven people do not know their positive
status. It is also estimated that about 39,000 new cases have been
diagnosed annually in recent years, a number that has likely
plateaued because effective HIV prevention and treatment are not
adequately reaching those who need it most, according to the
CDC.
“When it comes to eradicating HIV, the first step is to know
your HIV status,” said Stephen Tang, President and Chief Executive
Officer of OraSure Technologies. “We are pleased to work with
organizations to bring free tests to people in communities across
the United States which are dealing with increasing HIV infection
rates. Our hope is for people to get tested, know their status and
get linked to appropriate care, plus make informed decisions if
they test positive.”
OraSure is proud to support the 2019 Greater Than AIDS National
HIV Testing Day Community Partnership, a collaboration with health
departments and local HIV organizations, with donated test kits.
OraSure is also supporting other organizations across the country
with kit donations.
For these free HIV testing events, OraSure donated the OraQuick
ADVANCE® Rapid HIV-1/2 Antibody Test which detects antibodies to
HIV-1 and HIV-2 in 20 minutes, allowing patients to be informed
quickly of their HIV status and enabling them to be linked to
appropriate care immediately. The OraQuick ADVANCE® Rapid HIV-1/2
Antibody Test can be used to test in non-traditional testing
environments, such as outreach programs, mobile testing clinics,
pharmacies, etc., with a greater than 99 percent accuracy rate.
About OraSure Technologies OraSure Technologies
is empowering the global community to improve health and wellness
by providing access to accurate essential information.
OraSure is a leader in the development, manufacture and
distribution of point-of-care diagnostic tests, molecular
collection devices and other technologies designed to detect or
diagnose critical medical conditions. Its first-to-market,
innovative products include rapid tests for the detection of
antibodies to HIV and Hepatitis C (HCV) on the OraQuick® platform,
sample self-collection and stabilization products for molecular
applications, and oral fluid laboratory tests for detecting various
drugs of abuse. Together with its wholly-owned subsidiaries (DNA
Genotek, CoreBiome and Novosanis), OraSure provides its customers
with value-added, end-to-end solutions that encompass tools,
diagnostics and services. OraSure’s portfolio of products is
sold globally to various clinical laboratories, hospitals, clinics,
community-based organizations and other public health
organizations, research institutions, distributors, government
agencies, physicians’ offices, commercial and industrial entities
and consumers. For more information on OraSure Technologies, please
visit www.orasure.com.
Important Information This press release
contains certain forward-looking statements, including with respect
to expected revenues and earnings/loss per share. Forward-looking
statements are not guarantees of future performance or results.
Known and unknown factors that could cause actual performance or
results to be materially different from those expressed or implied
in these statements include, but are not limited to: successfully
managing and integrating acquisitions of other companies in a
manner that complements or leverages our existing business, or
otherwise expands or enhances our portfolio of products and our
end-to-end service offerings, and the diversion of management’s
attention from our ongoing business and regular business
responsibilities to effect such integration; the expected economic
benefits of acquisitions (and increased returns for our
stockholders), including that the anticipated synergies, revenue
enhancement strategies and other benefits from the acquisitions may
not be fully realized or may take longer to realize than expected
and our actual integration costs may exceed our estimates; ability
to market and sell products, whether through our internal, direct
sales force or third parties; ability to manufacture products in
accordance with applicable specifications, performance standards
and quality requirements; ability to obtain, and timing and cost of
obtaining, necessary regulatory approvals for new products or new
indications or applications for existing products; ability to
comply with applicable regulatory requirements; ability to
effectively resolve warning letters, audit observations and other
findings or comments from the U.S. Food and Drug Administration
(“FDA”) or other regulators; changes in relationships, including
disputes or disagreements, with strategic partners or other parties
and reliance on strategic partners for the performance of critical
activities under collaborative arrangements; ability to meet
increased demand for the Company’s products; impact of significant
customer concentration in the genomics business; impact of
increased reliance on U.S. government contracts; failure of
distributors or other customers to meet purchase forecasts,
historic purchase levels or minimum purchase requirements for our
products; impact of replacing distributors; inventory levels at
distributors and other customers; ability of the Company to achieve
its financial and strategic objectives and continue to increase its
revenues, including the ability to expand international sales;
ability to identify, complete, integrate and realize the full
benefits of future acquisitions; impact of competitors, competing
products and technology changes; impact of negative economic
conditions; reduction or deferral of public funding available to
customers; competition from new or better technology or lower cost
products; ability to develop, commercialize and market new
products; market acceptance of oral fluid or urine testing,
collection or other products; market acceptance and uptake of
microbiome informatics, microbial genetics technology and related
analytics services; changes in market acceptance of products based
on product performance or other factors, including changes in
testing guidelines, algorithms or other recommendations by the
Centers for Disease Control and Prevention (“CDC”) or other
agencies; ability to fund research and development and other
products and operations; ability to obtain and maintain new or
existing product distribution channels; reliance on sole supply
sources for critical products and components; availability of
related products produced by third parties or products required for
use of our products; ability to maintain sustained profitability;
ability to utilize net operating loss carry forwards or other
deferred tax assets; volatility of the Company’s stock price;
uncertainty relating to patent protection and potential patent
infringement claims; uncertainty and costs of litigation relating
to patents and other intellectual property; availability of
licenses to patents or other technology; ability to enter into
international manufacturing agreements; obstacles to international
marketing and manufacturing of products; ability to sell products
internationally, including the impact of changes in international
funding sources and testing algorithms; adverse movements in
foreign currency exchange rates; loss or impairment of sources of
capital; ability to attract and retain qualified personnel;
exposure to product liability and other types of litigation;
changes in international, federal or state laws and regulations;
customer consolidations and inventory practices; equipment failures
and ability to obtain needed raw materials and components; the
impact of terrorist attacks and civil unrest; and general
political, business and economic conditions. These and other
factors that could affect our results are discussed more fully in
the Company’s Securities and Exchange Commission (“SEC”) filings,
including our registration statements, Annual Report on Form 10-K
for the year ended December 31, 2018, Quarterly Reports on
Form 10-Q, and other filings with the SEC. Although forward-looking
statements help to provide information about future prospects,
readers should keep in mind that forward-looking statements may not
be reliable. The forward-looking statements are made as of the date
of this press release and OraSure Technologies undertakes no duty
to update these statements.
Investor Contact:
Robert CucaChief Financial Officer610-882-1820
investorinfo@orasure.com |
Media Contact:
Jeanne MellVP Corporate
Communications484-353-1575media@orasure.com |
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