Atossa Genetics Inc (NASDAQ:ATOS) Eying Europe With Crucial Service

Atossa Genetics Inc (NASDAQ:ATOS) has witnessed almost overwhelming success with the rollout of its innovative pharmacogenetics testing, a service that helps doctors and patients solve some prescription challenges. The company offers the service through its subsidiary, The National Reference Laboratory for Breast Health (NRLBH).

Why are analyst so optimistic about ATOS?

Europe on target

The test has been available in the U.S. since late October this year. Pharmacogenetics test allows physicians to avoid adverse drug reactions in patients. Through pharmacogenetics testing, they can base drug prescription and doses on the analysis of a patient’s genetics. With the success already seen in the U.S., Atossa Genetics Inc (NASDAQ:ATOS) is eying Europe. It has plans to launch a trial of the test in certain markets in Europe before making a full rollout in the region.

Since late October 2014 until mid this month, Atossa Genetics Inc (NASDAQ:ATOS) said that over 500 pharmacogenetics tests had been performed in the U.S.

In the U.S., tests attract a retail price of about $1,700 per patient.

According to Atossa Genetics Inc (NASDAQ:ATOS), they can increase the amount of pharmacogenetics tests performed per month. However, the NRLBH can currently process about 5,000 tests per month. Increasing test capacity will only require hiring of more staff and bringing more equipment, which is something that the company can easily do when the need arises.

Widespread problem

Commenting on the progress made through pharmacogenetics testing, the company’s CEO, Steven C. Quay, stated that over 2 million patients in the U.S. suffer from adverse drug reactions every year. Such prescription problems lead to over 100,000 deaths. As such, expanding pharmacogenetics testing will not only help the company to tap more revenue, but also save the lives of millions of Americans who suffer from adverse drug reactions.

Atossa Genetics Inc (NASDAQ:ATOS) has tapped a sale and marketing partner that boasts more than 85 accomplished sales representatives, who have vast experience working with some of the largest healthcare organizations in Fortune 100.

The company also revealed plans to sign up with third-party reimbursement companies such as HealthSmart, MultiPlan and FedMed. Such arrangements are expected to boost the amount of collections. MultiPlan, for instance, covers about 20% of Americans.

About the Author

Adam is a staff reporter for US Markets Daily Publications & Media, covering foreign affairs and domestic policy.

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