Quest Diagnostics 2009 Annual Report Download - page 4

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In response to the potential Influenza H1N1 pandemic,
we quickly developed and deployed the first commercial
H1N1 test and test kit based on our new Simplexa test-
ing platform. In granting us emergency use authoriza-
tion, the U.S. Food and Drug Administration noted that
our test would expand the nation’s capacity to perform
quality testing for the H1N1 virus. This is a great exam-
ple of how we are able to respond quickly to a public
health need and help patients while driving growth.
Continued progress in reducing our cost structure
helped drive earnings growth. We exceeded the ambi-
tious goal established in 2007 of removing more than
$500 million from our cost structure by the end of
2009. We will not stop there. The capabilities we have
developed in connection with these programs will con-
tinue to improve the quality of our services and the effi-
ciency of our operations.
FAVORABLE
INDUSTRY TRENDS
The major trends continue to be favorable for long-
term growth in diagnostic testing:
• The focus of healthcare is moving from treating sick
patients to wellness, prevention and early detection of
disease. Increasingly, employers recognize that keep-
ing their work force healthy can drive enhanced pro-
ductivity and lower healthcare spending.
• The population is growing and aging, requiring more
testing. We are seeing an increase in the number of
tests ordered for each patient.
• Technology is enabling testing to move closer to the
point of care, whether in the physician’s office or at
the patient’s bedside. We see the point of care testing
business as a future growth opportunity.
• Increasingly, healthcare providers are adopting infor-
mation technology solutions that enhance patient
care and drive efficiencies in healthcare delivery. In
addition, patients are beginning to use technology to
manage their own health.
• The advent of personalized medicine and targeted
diagnostic tests is increasingly helping doctors make
more informed therapy decisions and monitor the
effectiveness of treatment. The pace of innovation in
this important area is accelerating, with the frequent
discovery of new biomarkers, particularly for cancer,
that are the basis for new targeted tests.
ACCELER ATING
INNOVATION
We have been accelerating the pace of innovation by
continuing to introduce new tests, healthcare IT solu-
tions, and services.
We are driven to develop new tests that meet critical
patient needs, with a focus on cancer, cardiovascular
disease and infectious diseases. As we enter a new
decade, it is looking more and more like the “decade
of diagnostics,” driven by the advent of personalized
medicine. Our scientific and medical team is uniquely
positioned to help patients and their doctors improve
health outcomes, often by enabling physicians to tailor
treatment protocols based on the particular makeup of
each patient. We had an impressive portfolio of accom-
plishments in 2009.
Quest Diagnostics 2009 Annual Report page 2