Last $38.75 USD
Change Today +0.22 / 0.57%
Volume 92.5K
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07/2/14 - $40.80
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alere inc (ALR) Details

Alere Inc. provides diagnostics and services for cardiology, infectious disease, toxicology, and diabetes in the United States and internationally. The company operates in three segments: Professional Diagnostics, Health Information Solutions, and Consumer Diagnostics. The Professional Diagnostics segment provides diagnostic test products and other in vitro diagnostic tests to medical professionals and laboratories for detection of diseases and conditions in the areas of cardiology, infectious diseases, toxicology, diabetes, oncology, and women’s health, as well as offers connected device technologies. The Health Information Solutions segment offers integrated programs and services focused on wellness, disease and condition management, productivity enhancement, and informatics. This segment’s health improvement programs comprise patient self-testing, condition and case management, women’s and children’s health, and health and wellness programs. The Consumer Diagnostics segment provides products for over-the-counter pregnancy and fertility/ovulation test markets; and over-the-counter drug tests for at-home testing and cholesterol monitoring under the First Check brand name, as well as vaginal gel for the treatment of bacterial vaginosis. Alere Inc. markets its professional diagnostic products to hospitals, reference laboratories, physician offices, and other point-of-care settings through its sales force and distribution networks; health information solutions primarily to commercial and governmental health plans, self-insured employers, government and governmental programs, pharmaceutical companies, and physicians through sales force and channel partners; and consumer drug testing products through retail drug stores, drug wholesalers, groceries, and mass merchandisers. The company was formerly known as Inverness Medical Innovations, Inc. and changed its name to Alere Inc. in July 2010. Alere Inc. was founded in 2001 and is headquartered in Waltham, Massachusetts.

17,600 Employees
Last Reported Date: 03/3/14
Founded in 2001

alere inc (ALR) Top Compensated Officers

Interim Chief Executive Officer, Interim Pres...
Total Annual Compensation: $1.1M
Chief Financial Officer, Vice President and T...
Total Annual Compensation: $408.8K
Compensation as of Fiscal Year 2013.

alere inc (ALR) Key Developments

Alere Inc. Announces Publication of Study Demonstrating the Viability of Accurate and Rapid HIV Screening Among Infants at Point of Care

Alere Inc. announced the publication of a study demonstrating the viability of accurate and rapid HIV screening among infants at the point of care (POC). The study was conducted in five clinics in Maputo, Mozambique, with the prototype of Alere's new POC nucleic acid test, the Alere(TM) q HIV-1/2 Detect assay. Results of the study have been published ahead of print in the Journal of Acquired Immune Deficiency Syndromes (JAIDS). In the study, conducted under the auspices of the National Institute of Health together with the Clinton Health Access Initiative and the University Eduardo Mondlane (all Maputo, Mozambique), nurses in five clinics in Maputo tested infants with the Alere q HIV-1/2 Detect assay, which provides results in less than 60 minutes. Samples were also reference tested as per standard of care (SOC) with a laboratory-based nucleic acid test. Results showed that the new Alere q HIV-1/2 Detect assay administered at the POC had rates of sensitivity and specificity comparable with the reference method with high overall test agreement between the two platforms of 98.5% for positive results and 99.9% for negative results. According to UNAIDS, almost 90% of HIV-infected children currently live in sub-Saharan Africa, and an estimated 90% of infections in children are acquired through mother-to-child transmission (MTCT) of HIV. It is estimated that more than half of HIV-positive infants who are not diagnosed and who do not receive anti-retroviral treatment (ART) within the first three months of life will die before their second birthday. The World Health Organization (WHO) recommends that all HIV-exposed infants have a molecular HIV test at 4 to 6 weeks of age or at the earliest opportunity thereafter, and that antiretroviral therapy be initiated as early as possible in infants diagnosed with HIV.

Alere Inc. Announces Management Changes

Alere Inc. announced as part of its ongoing review of its strategy and operations, that Chief Operating Officer Namal Nawana has been appointed interim Chief Executive Officer and President following the resignation of Ron Zwanziger as Chief Executive Officer, President and a director of the company, effective immediately. Jerry McAleer, Senior Vice President Research and Development and a director, and Dave Scott, Chief Scientific Officer, also resigned effective immediately. Mr. Nawana will maintain his current responsibilities as COO during the transition period. The Alere Board of Directors will initiate a search process and plans to retain a leading executive search firm to identify a permanent CEO and President. The search process will include a review of both internal and external candidates. Mr. Nawana will maintain his current responsibilities as COO during the transition period.

Alere Shareholder Urges Sale

Alere Inc. (NYSE:ALR) may be sold. Shareholder of 2.4% stake in Alere, Coppersmith Capital Management, Llc sent a letter to company’s newly-appointed Chairman, Ron Zwanziger urging a possible sale. After Alere announced that it no longer planned on pursuing listing of BBI Diagnostics, Coppersmith Capital indicated that the company is spending too much on administrative costs, decreasing in organic revenues for diagnostic tests and “despite the $600 million in near-term divestiture proceeds promised last year, Alere has announced no divestitures, failing spectacularly in its attempt to complete an initial public offering in the UK of BBI Diagnostics.” The letter added, “Thankfully there is a better option: we understand that Alere has received unsolicited expressions of interest from potential strategic acquirers within the last year, but has failed to engage interested parties. As such, we believe Alere can be sold today at a significant premium to its current stock price”


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