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IDEXX's SDMA Test: Key to Kidney Disease Diagnosis in Pets - Analyst Blog

Zacks Equity Research
Updated

Maine-based animal health solutions provider IDEXX Laboratories, Inc. (IDXX) has unveiled a new kidney test – SDMA – at the North American Veterinary Conference in Orlando, FL from Jan 17-21. The test reflects an attempt to revolutionize the diagnosis and treatment procedures of kidney disease in cats and dogs.

Per management, the SDMA test is a new renal biomarker that can detect the outset of kidney disease in cats and dogs, months or even years before traditional procedures can spot the same, thereby giving veterinarians more time to prescribe appropriate treatment options.

Chronic kidney disease (CKD) refers to a progressive illness which can lead to permanent loss of kidney function over time and can even lead to death. Unfortunately, current diagnostic methods including standard chemical tests mostly fail to identify CKD until 75% of the kidney function has already been damaged.

As a result, these traditional tests allow limited treatment options for veterinarians, thus often leading to drastic health deterioration among animals affected by CKD.

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According to management, third party peer-reviewed studies have validated the fact that this highly cost-effective yet comparatively speedy SDMA test of IDEXX has the ability to identify CKD by the time only 40% kidney function in the animals are lost on an average, and in some cases even earlier.

Such early detection helps veterinarians to offer effective treatment in time. Proper medication can ensure better longevity for the affected pet.

Management expects to begin trials for this test in North America by the end of the ongoing quarter, and eventually roll out the test as part of the standard chemistry panel in the North American market this summer. A launch in IDEXX's global reference lab network will extend into 2016.

Per management, the new SDMA test will not generate any material incremental revenue for IDEXX in 2015. However, IDEXX believes that the test will soon become a standard of care for pets suffering from CKD. This will subsequently raise IDEXX's recurring diagnostic revenues in the upcoming years.

Currently, IDEXX has a Zacks Rank #3 (Hold). Better-ranked medical instrument stocks include Inogen, Inc. (INGN), Synergetics USA, Inc. (SURG) and ABIOMED, Inc. (ABMD). While Inogen and Synergetics sport a Zacks Rank #1 (Strong Buy), ABIOMED carries a Zacks Rank #2 (Buy).


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ABIOMED INC (ABMD): Free Stock Analysis Report
 
SYNERGETICS USA (SURG): Free Stock Analysis Report
 
IDEXX LABS INC (IDXX): Free Stock Analysis Report
 
INOGEN INC (INGN): Free Stock Analysis Report
 
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