OraSure and Thermo Fisher to launch substance abuse testing device OraSure (OSUR) announced continued progress under its agreement with Thermo Fisher (TMO) to develop and supply homogenous fully-automated oral fluid drugs of abuse assays to be used with a new version of the company's Intercept oral fluid specimen collection device. The NIDA-5 panel of automated assays developed by Thermo Fisher and the new Intercept oral fluid specimen collection device are expected to launch in the domestic criminal justice and forensics markets in Q4. As a result of this progress, OraSure has issued its final purchase order for fully-automated assays previously developed under its now terminated collaboration with Roche Diagnostics. Under the Roche Diagnostics collaboration, which was terminated in November 2013, OraSure is entitled to receive $5.5M as a result of its submission of a final purchase order. Payment is expected to be received during Q3.
Thermo Fisher authorizes $1B share repurchase plan Thermo Fisher Scientific announced its board of directors authorized the repurchase of $1B of shares of its common stock. The repurchase authorization replaces the existing authorization, in which there was approximately $410M remaining. The company intends to resume share repurchases in 2016, said Thermo Fisher.