bioMérieux: Strong start of the year driven by the USBUY, Fair Value EUR110 (+19%)
Biomérieux released Q1 results with sales up 21% on a reported basis, standing at EUR448m (vs. EUR371m in 2014). A strong currency effect of 10.1% in Q1, mainly from the US, should not overshadow robust organic growth of 8.7% over the quarter which came in higher than the confirmed 4.5-6.5% organic growth range guidance for the year. BioFire sales are up 93% at EUR37m which could help the company to surpass its annual guidance if the same growth pace is sustained throughout 2015.
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