OraSure, Thermo Fisher deal on drug-abuse testing

OraSure ending work with Roche, makes pact with Thermo Fisher for drug-abuse testing

Associated Press

BETHLEHEM, Pa. (AP) -- OraSure Technologies said Thursday it is ending a drug-abuse test collaboration with Swiss drugmaker Roche and entering a new one with Thermo Fisher Scientific.

Roche will pay OraSure $8.3 million as part of the end of the agreement between the companies. It will continue to supply five tests to OraSure for up to five years.

Including the payment from Roche, OraSure Technologies Inc. expects to report net income of 7 to 8 cents per share in the fourth quarter. It had previously expected to lose 7 to 8 cents per share. Analysts expect a loss of 6 cents per share, according to FactSet.

OraSure said it will work with Thermo Fisher Scientific Inc. to develop and supply up to 12 oral drug tests.

Shares of OraSure rose 53 cents, or 8.1 percent, to close at $7.07 Thursday.