Roche Introduces Test To Detect Contagious XBB.1.5 Omicron Sub-Variant

Roche Holding Ltd RHHBF RHHBY and its subsidiary TIB Molbiol have developed a COVID-19 PCR test for researchers that detects and differentiates the latest variant of concern, XBB.1.5.
The XBB.1.5 Omicron sub-variant is prevalent in the U.S. and quickly spreads to other countries.
Being able to differentiate emerging variants and understand their similarities and mutations provides a basis for experts to make predictions about their spread and respond with appropriate treatment strategies.
"Roche continues to develop timely diagnostic innovations related to COVID-19 by providing valuable insights - helping scientists and physicians understand this new strain, how it differs from other variants, and the impact it may have on public health," said Matt Sause, CEO of Roche Diagnostics.
The research-use-only test, VirSNiP SARS-CoV-2 Spike F486P, adds to the broad suite of COVID-19 test kits developed by Roche and TIB Molbiol.
Roche's Q3 FY22 sales reached CHF14.74 billion, down 6% Y/Y due to lower sales from COVID-19 treatments and diagnostics.
"The third quarter of 2022 was particularly challenging due to base effects, as the demand for COVID-19 medicines and tests was exceptionally high in the same quarter of 2021," the company said.
"Despite an increasing incidence rate for COVID-19, actually, we don't see an increase in the demand for COVID-19-related products," CEO Severin Schwan said.
Price Action: RHHBY shares closed at $40.05 on Wednesday.