2 PRs:Cytyc and Quest Diagnostics Announce Multi-Year Agreement
PR Newswire - January 06, 2000 18:14
BOXBOROUGH, Mass., and TETERBORO, N.J., Jan. 6 /PRNewswire/ -- Cytyc Corporation (Nasdaq: CYTC) and Quest Diagnostics Incorporated (NYSE: DGX) today announced a multi-year agreement to market the ThinPrep(R) Pap Test(TM) as Quest Diagnostics' exclusive liquid-based cervical cancer screening methodology. Quest Diagnostics, the nation's leading provider of anatomic pathology testing services, introduced the ThinPrep Pap Test as a new cervical screening technology in 1997.
Under this agreement, the two companies will combine their marketing resources and expertise to promote the benefits of ThinPrep technology nationwide. The plan calls for the development of a program of cooperative sales activity directed toward payers, physicians and patients. As consideration for the exclusive nature of this relationship, Cytyc has granted Quest Diagnostics a warrant to purchase 150,000 shares of common stock. The companies did not disclose additional terms of the agreement.
"We are very excited about the potential of this program, which is consistent with Quest Diagnostics' strategy to provide high quality products and services to our patients and customers," said Surya N. Mohapatra, Ph.D., president and chief operating officer for Quest Diagnostics. "As an early adopter of ThinPrep technology, Quest Diagnostics has had the opportunity to confirm the clinical advantages of the ThinPrep Pap Test."
With the acquisition of SmithKline Beecham Clinical Laboratories last August, Quest Diagnostics emerged as the clear leader in the field of anatomic pathology, including cervical cancer screening, in the United States.
"Quest Diagnostics has become the leading provider of Pap testing in the United States as a result of their commitment to excellence and their dedication to deliver high quality, reliable laboratory service," said Patrick J. Sullivan, Cytyc's president and chief executive officer. "We are excited to have them as our partner to increase awareness of the benefits of the ThinPrep Pap Test and accelerate conversion to this significantly more effective technology."
Cytyc Corporation develops, manufactures, and markets the ThinPrep(R) System for medical diagnostic applications. The ThinPrep System consists of the ThinPrep(R) 2000 Processor and related reagents, filters, and other supplies. Since introduction, Cytyc has manufactured more than 1,000 ThinPrep 2000 Processors and 10 million ThinPrep(R) Pap Tests for cervical cancer screening.
Cytyc(R) and ThinPrep(R) are registered trademarks and ThinPrep(R) Pap Test(TM) is a trademark of Cytyc Corporation.
Quest Diagnostics is the nation's leading provider of diagnostic testing, information and services to physicians, hospitals, managed care organizations, employers and government agencies with annualized revenues of more than $3 billion. The wide variety of tests performed on human tissue and fluids help doctors and hospitals diagnose, treat and monitor disease. Its Nichols Institute unit conducts research, specializes in esoteric testing using genetic screening and other advanced technologies, and manufactures and distributes diagnostic test kits and instruments. Quest Diagnostics is one of the leading providers of testing to support clinical trials of new pharmaceuticals worldwide. Quest Informatics collects and analyzes laboratory, pharmaceutical and other data to help large health care customers better manage the health of their patients. QuestNet is an innovative new product offering that provides network management services to large buyers of health care services. Additional company information can be found on the Internet at: questdiagnostics.com.
Also, Cytyc Announces New Agreement with DIANON Systems to Co-Promote the ThinPrep(R) Pap Test(TM)
PR Newswire - January 06, 2000 12:38
BOXBOROUGH, Mass., Jan. 6 /PRNewswire/ -- Cytyc Corporation (Nasdaq: CYTC) today announced a new agreement with DIANON Systems, Inc. (Nasdaq: DIAN) to continue to co-promote the ThinPrep(R) Pap Test(TM) as a replacement for the conventional Pap smear. DIANON Systems introduced the ThinPrep Pap Test in May 1998 as its primary enhanced Pap testing product.
"DIANON Systems has pioneered the clinical use of many innovative diagnostic technologies that increase accuracy, and provide more informative diagnoses," said Kevin Johnson, president and CEO of DIANON Systems. "The ThinPrep Pap Test has met our stringent performance criteria for new technology and we anticipate continued conversion from the traditional Pap smear to the ThinPrep Pap Test in 2000."
"As an industry leader, offering outstanding pathology services, DIANON Systems has been an important and effective partner in promoting the benefits of the ThinPrep Pap Test(TM), said Patrick J. Sullivan, Cytyc's president and chief executive officer. "We look forward to our continued valued relationship into the new millennium."
DIANON Systems provides pathology services nationwide through its headquarters in Stratford, Connecticut, and additional facilities in Tampa, Florida, and Wilmington, Ohio. As a pathology company, DIANON makes the diagnosis for almost all types of cancers and for many chronic and genetic diseases. In addition to being one of the largest pathology companies in the country, DIANON provides information that assists patients, physicians, and health plans in diagnosing, understanding, and managing disease
A flood of PR announcing alliances. Seems unusual.
Jack |
