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Earnings

COVID-19 tests help Qiagen beat third-quarter sales growth forecast

FILE PHOTO: A logo of a testing company Qiagen is seen as Economy Minister Andreas Pinkwart and Health Minister Karl-Josef Laumann of the German state Northrhine Westphalia visit Qiagen's facility, in Hilden, Germany, September 8, 2020. REUTERS/Leon Kuegeler

BERLIN (Reuters) - German diagnostic test maker Qiagen QIA.DE said sales jumped by a bigger-than-expected 26% in the third quarter, boosted by strong demand for its tests for COVID-19.

The company said sales in the July-September period came in at $481.3 million compared with $382.7 million in the year-earlier period and ahead of its forecast for third-quarter sales growth of 16-21% at constant exchange rates.

It said preliminary adjusted earnings per share rose 61% to $0.58 cents at the top end of its forecast for $0.52-$0.58 cents.

Qiagen is due to report full results for the third quarter on Nov. 4.

Reporting by Caroline Copley; Editing by Maria Sheahan

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