Celsis hit by sales slowdown

21st Jul 2009 07:51

Shares in Celsis tumbled as the biotech warned its two core businesses have slowed down in the first three months of the current year.The diagnostics kits Rapid Detection arm had a slow start to the quarter, but has regained momentum in June with strong instrument sales. However, trading results year-to-date are behind last year, Celsis said.In Vitro Technologies, which provides products to help reduce the time and cost of the drug discovery and development process, has also experienced a slowdown in trading, particularly in Europe, and is significantly behind last year.The smaller Analytical Services business, which provides outsourced laboratory testing services, "has seen sustained trading in the first quarter," Celsis added.