(ILMN) Illumina’s Genome Network Expands

Recently, Illumina (ILMN) announced that the University of Washington’s Department of Genome Sciences has joined the Illumina Genome Network (IGN). This Network exists to carry out partnership program on a global basis. It helps link researchers seeking large-scale whole human genome sequencing services with leading institutions using Illumina’s sequencing technology.

With HiSeq sequencing system technology gaining strength, Illumina recently reduced the price for sequencing whole human genomes through the IGN. The new price has been decided at $5,000 per genome for projects consisting of ten samples or more, and $4,000 for projects based on fifty samples or more.

Illumina had also announced a huge price reduction for its individual genome sequencing service (IGS) from $19,500 to $9,500. The company also decided to subsidize sequencing for patients with life threatening diseases so that the physicians can easily access the required information and properly diagnose as well as draw out the treatment plan.

Illumina is a leading player in life science tools and integrated systems for the analysis of genetic variation and function. The company provides sequencing and array-based solutions for genotyping, copy number variation analysis, methylation studies, gene expression profiling, and low-multiplex analysis of DNA, RNA, and protein.

Illumina reported revenues of $282.5 million in the first quarter of fiscal 2011, 47% higher than the year-ago quarter on the back of a strong 53.5% growth in product revenues, partially offset by 14.4% decline in service revenues.

The company derives 94.4% of its revenues from products while the remaining comes from services. While significant growth in sequencing products and expanded information base of sequencers were responsible for the robust growth in consumables, the growth in instruments can be attributed to the success of HiSeq 2000 after its commercial launch in 2010.

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