FRANKFURT (Reuters) - U.S.-German biotechnology company Qiagen NV said on Monday that its third-quarter net profit dropped 38%, but it raised its outlook for the full year.
Profit slumped in the quarter to $82 million from $133 million a year ago.
It said it was raising its outlook due to strong results in the first nine months and the outlook for the full year.
It now expects sales of $2.25 billion, up from a previous outlook for at least $2.2 billion.
Last month, The Wall Street Journal reported that California-based diagnostics company Bio-Rad Laboratories was in talks to merge with Qiagen.