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OraSure Technologies Announces Intercept Oral Fluid Drug Testing Solution to be Marketed by Quest Diagnostics
Wednesday, January 30, 2002
BETHLEHEM, PA -- January 30, 2002-- OraSure Technologies Inc. (Nasdaq:OSUR) announced today that Quest Diagnostics, Inc. (NYSE:DGX), the nation's leading provider of diagnostic testing, information and services, has signed an agreement to market Intercept®, OraSure Technologies' oral fluid drug testing solution.
Terms of the agreement were not disclosed.
Quest Diagnostics is the nations leading provider of drugs of abuse testing, performing more than eight million drugs of abuse tests each year for Fortune 500 companies, government agencies, and sports authorities. It services these customers from six SAMHSA (Substance Abuse and Mental Health Services Administration) certified laboratories.
OraSure Technologies will supply a complete drug-testing service consisting of laboratory equipment, oral fluid collection devices, and assays. The Intercept® assays can detect eight common drugs (marijuana, cocaine, opiates, PCP, amphetamines, benzodiazepines, barbiturates, and methadone).
The convenient Intercept® collection device allows on-the-spot,
observed collection of samples and eliminates the cost, embarrassment
and delays associated with urine sample collection. Collected
samples are sent to Quest Diagnostics for analysis.
"This important new agreement with Quest provides a major boost to our Intercept® marketing efforts," said Robert D. Thompson, OraSure Technologies' Chief Executive Officer. "The timing is ideal. Intercept® revenues increased dramatically in 2001, growing by more than $3 million for the year. As oral fluid drug testing enters the mainstream, the interest level in Intercept® is at an all-time high and continues to rise.
"The acceptance of oral fluid drug testing has been accelerated by the inclusion of oral fluid testing in the latest draft of the federal workplace drug-testing guidelines (Mandatory Guidelines for Federal Workplace Drug Testing Programs), which was issued on September 5, 2001. Our cumulative experience to date indicates that positive rates with oral fluid drug testing are comparable to urine positive rates, and provides strong anecdotal evidence that oral fluid testing reduces the possibility of avoiding detection by the substitution and adulteration of samples," added Mr. Thompson.
About OraSure Technologies
OraSure Technologies, Inc. is the market leader in oral fluid diagnostics. The Company develops, manufactures and markets medical devices and diagnostic products for use by insurance companies, public health agencies, clinical laboratories, physicians' offices, and workplace sites. For more information on the Company, please visit www.orasure.com.
About Quest Diagnostics
Additional company information can be found on the Internet at: www.questdiagnostics.com.
This press release contains certain forward-looking statements with respect to sales, products
and markets. Actual results could be significantly different.
Factors that could affect results include the ability to market products; impact of
competitors, competing products and technology changes; ability to develop,
commercialize and market new products; market acceptance of oral fluid testing
products and up-converting phosphor technology products; ability to fund research
and development and other projects and operations; ability to obtain and timing of
obtaining necessary regulatory approvals; ability to develop product distribution
channels; uncertainty relating to patent protection and potential patent
infringement claims; ability to enter into international manufacturing agreements;
obstacles to international marketing and manufacturing of products; ability to sell
products internationally; loss or impairment of sources of capital; exposure to
product liability and other types of litigation; changes in international, federal
or state laws and regulations; changes in relationships with strategic partners and
reliance on strategic partners for the performance of critical activities under
collaborative arrangements; changes in accounting practices or interpretation of
accounting requirements; equipment failures and ability to obtain needed raw
materials and components; and general business and economic conditions.
These and other factors are discussed more fully in the Securities and Exchange
Commission filings of OraSure Technologies, including its Annual Report on Form 10-K
for the year ended December 31, 2000, and most recent Quarterly Report on Form 10-Q.
Although forward-looking statements help to provide complete information about future
prospects, readers should keep in mind that forward-looking statements may not be
reliable. The forward-looking statements are made as of the date of this press
release and OraSure Technologies undertakes no duty to update these statements.
| CONTACT: |
OraSure Technologies, Inc. |
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Ronald H. Spair, 610/882-1820 |
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Investorinfo@orasure.com |
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