Axis-shield pic

Axis-shield pic

INTRODUCTION

Axis-Shield plc is a pioneering organization which focuses on the manufacturing and development of in vitrodiagnostic tests for near patient use at the point of concern and for use in clinical laboratories. The company specialises in markers for diagnosis and management of cardiovascular disease, neurodegenerative disease, anticoagulation monitoring, inflammation, diabetes and rheumatoid arthritis. It alsospecialises in the direct supply of medical instruments and diagnostic tests in the physician's office testing market which is growing rapidly.

Axis-Shield was founded in May 1999 by the merger of two successful healthcare companies - Axis Biochemicals (Norway) and Shield Diagnostics Ltd. (Scotland). Both the companies had developed technologies which were competing with each other so a thoughtful merger enabled them to become more competitive. In October 1999, acquisition of Medinor ASA created a direct sales vehicle in Norway, complementing Axis-Shield UK.

The company works through three divisions: Laboratory Division in Dundee, Scotland. Point-of-Care (PoC) Division in Oslo, Norway and Direct Distribution Division which focuses on major PoC markets and maintains increased margins and direct contact with important customers and physician's office market.

The company's vision is "to improve healthcare as a global provider of innovative in-vitro diagnostic products", which is backed up by the following Mission Statement: "To identify and develop novel, patentable in vitro diagnostic products to meet clinical needs in the laboratory and at the point of care. We will collaborate with partners, create branded products, and add complementary businesses which support our objective of growing an innovative and increasingly profitable company." [Axis-Shield, 2010]

BUSINESS ASPECTS

Axis-Shield provides solution for the industry major, develop novel analytes like homocysteine, ensure strong patent and IP position and establish a position in Point of Care (PoC) market.

The company has 60% shares in the UK market and its shares are traded on the Oslo and London Stock Exchanges. At present, the share market price of Axis-Shield is 387.00p raised by 31.19% over the year compared to 295.0p in 2009. 30200000 Shares were traded over the year, an average of 106000 shares per day. Fortunately, there was no effect of financial crisis on diagnostic market.

In the year 2008, the market capital of the company was approximately £200 million. Turnover of the company was £85.3 million with profit before income tax £4.5 million. Axis-Shield spent around £8.3 million in Research and Development, 0.7% of the turnover.

Axis-Shield currently has nearly 500 employees, among them 200 in Oslo, 150 in US, UK and China and 135 in laboratory diagnostics department in UK. The average length of employees working in the company is 7 years. 29% of employees work for over 10 years. 120 employees work in Dundee office, out of which 9% are involved in administration and 10% in sales. 50% of employees have fist level degree or higher but a post doc level degree for principal scientist.

The Laboratory Division have high value patented markers used on instruments from renowned companies in the global laboratory market. The products include Axis-Shield Enzymatic Homocysteine Assay (FHER100), Axis-Shield LS2 Reagent Enzymatic Homocysteine Assay (FHET100), and Axis-Shield Homocysteine Control Kit (FHCY200), this is for cardiovascular diseases. AxSYM® Active-B12 for vitamin B12 deficiency. AxSYM® xtraanti-CCP for early detection of rheumatoid arthritis. The PoC division has its sales organizations in Norway, Denmark, Sweden and Finland through Medinor, in Germany through Axis-Shield GMbH, in Switzerland through Axis-Shield AG and in the US through Axis-Shield USA. The successful products include Afinion™, NycoCard™ and Hemostasis. Customers are given the products of highestquality standards and qualified trained support staff to provide professional advice and help if needed.

Annual

Revenue

Time

New Marker Pipeline

With this annual revenue against time line graphs clearly reveals that it takes nearly 10 years for a drug to be in a position to be launched in the market. Homocysteine is doing very well in market and recognised as a major indicator of general health status; Anti-CCP is in marketing phase where it needs to make its position in the market. Active B12 is in process of validation.

Rhona Allison, senior director of Life Sciences at Scottish Enterprise, said, “Axis-Shield is a high quality company and an excellent winner of this year's Business Leadership Award. Its management team has guided the company to an outstanding year.” [Scottish Enterprise, 2010]

Scotland, Oct 5, 2009: Axis-Shield plc (LSE:ASD, OSE:ASD), the international in-vitro diagnostics (IVD) company, today announces that it has been named “Vendor of the Year” by PSS (Physician Sales & Service®), the largest distributor of medical supplies and services to office-based physicians in the United States. [Life Sciences Scotland, 2009]

TECHNOLOGICAL ASPECTS

Laboratory Division of the company owns automated analysers giving high sample throughputs and wide-ranging analyte menus to assist the busy hospital laboratory or clinic. It also has a wide experience on automated analysers with handling of immunoassays and other diagnostic technologies. The company has partnered with some leading companies to provide its proprietary assays for diagnostics. Axis-Shield can produce its own-labeled assays on AxSYM® autoanalyser since the company is a close partner of Abbott Diagnostics.

Under OEM contracts, Axis-Shield develops and manufactures kits for multinational diagnostic organisations with highest standards and fully audited quality systems, in timely and efficient manner.

Axis-Shield has undertaken contract development and manufacturing for non-proprietary markers such as anti-CCP and homocysteine since it has a wide experience with automated systems. This has benefitted the company by patents which are the sole property of the company. According to European Patent Office, approximately 239 patents are filed in the name of Axis-Shield.

For the final, efficient and economical outcome, Axis-Shield follows a seven step process to develop and release the product in the market. There are approvals and quality analysis after a set of tests. DR1 approval is essential since after that scaling up of production starts. Food and Drug Association (FDA) in this process takes about 9-12 months for approval.

CONCEPT

FEASIBILITY

DEVELOPMENT

POST LAUNCH

Idea Generation

Proof of Concept

Start Up

Optimization

Preparation

Verification

Validation

PoC DR0 DR1 DR2 DR3 DR4 DR5

FLOW DIAGRAM OF PRODUCT DEVELOPMENT FOLLOWED BY AXIS-SHIELD

CONCLUSION

Axis-Shield plc develops and manufactures proprietary tests that address unmet clinical needs following high standards of business ethics which are critical in the present business world. The company also places high ethical standards maintenance, high priority on compliance within each of the regions and authority in which it carry out its business.

It offers a challenging and rewarding career in the industry which contributes greatly to society and ultimately saves people's lives. The company has great flexibility to react to changing demands of the market since the in vitro diagnostics market is huge without overcrowding of with the competitors.

The company should also focus on emerging markets and try to utilize those markets in for production cost and heavy marketing.

Please be aware that the free essay that you were just reading was not written by us. This essay, and all of the others available to view on the website, were provided to us by students in exchange for services that we offer. This relationship helps our students to get an even better deal while also contributing to the biggest free essay resource in the UK!