Illumina sees $20B opportunity for next-gen sequencing
Illumina Inc. (NASDAQ:ILMN) was up $11.08 to $136.34 on Friday after saying during an analyst day late Thursday that it estimates a $20 billion market opportunity for its next-generation sequencing (NGS) technology. The company said it estimates $12 billion of the NGS market share will come from opportunities in cancer, including from clinical and companion diagnostics. On Wednesday, Illumina partnered with Amgen Inc. (NASDAQ:AMGN) to develop and commercialize a companion diagnostic for Amgen's colorectal cancer drug Vectibix panitumumab. The update came just two days after Illumina introduced the HiSeq X Ten Sequencing System, which can sequence whole human genomes for less than $1,000 each. And in November, FDA approved Illumina's MiSeqDx genome sequencing system -- the first high throughput, next-generation genomic sequencer to be approved by the agency (see BioCentury Extra, Jan. 14). ...