Recently, Illumina (ILMN) announced a huge price reduction for its individual genome sequencing service (IGS) from $19,500 to $9,500. The company has 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. Price per genome under this program is $7,500 and for cancer patients, $10,000, for a tumor-normal pair.
In order to make the genetic data more easily available to patients, Illumina demonstrated the ‘MiGenome’ iPad application. As a result, an individual can easily visualize their genome and further study it for mendelian disorders, disease risk and pharmacogenomic drug response.
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.
Last month, the company had reduced the price for sequencing whole human genomes through the Illumina Genome Network (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. IGN is a global service partnership to link researchers who conduct large-scale whole human genome sequencing projects with leading institutions that can perform such projects using Illumina sequencers.
Illumina reported revenues of $282.5 million in the first quarter of fiscal 2011, 47% higher than the year-ago quarter on back of a strong 53.5% growth in product revenues, partially offset by 14.4% decline in service revenue. 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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