QUIDEL commenced its operations in 1979 and launched its first products, dipstick-based pregnancy tests, in 1984. The Company has expanded its product base through internal development and acquisition in the areas of pregnancy and ovulation, infectious disease, allergy and autoimmune products for professional and home use. QUIDEL markets its products in the United States and in over 100 other countries worldwide through the Company's direct sales force and a broad network of national and regional distributors.In August 1989, QUIDEL acquired the rights to the autoimmune diagnostic products and certain other assets of Cytotech, Inc. At the time of the acquisition, Cytotech's product line consisted of several FDA-cleared products and 80 research reagents, focused in the areas of complement and autoimmune disease. Since then, these products have contributed over $12.5 million toward Quidel sales.The Company is the surviving corporation of the January 1991 merger of Monoclonal Antibodies Inc. and Quidel Corporation ("Old Quidel"). Monoclonal Antibodies Inc. was incorporated in Delaware in 1987 as the successor to a California corporation of the same name incorporated in 1979. Prior to the merger, Old Quidel was a privately held corporation originally incorporated in California in 1981. In January 1995 the Company purchased Pacific Biotech, Inc., a California corporation ("PBI"), from Eli Lilly and Company. PBI provides a complementary line of rapid diagnostic tests for pregnancy, strep throat and mononucleosis. The products are sold under the CARDS® Q.S.® brand name on a worldwide basis.We are transforming and improving health management by setting the standard for rapid diagnostics testing. To sustain a position of leadership, we continuously monitor and assess changes in the healthcare environment to proactively and efficiently direct our efforts and resources. As a result of this expanded market focus and our broad range of products, we have been able to gain market share in the point of care testing market and have embarked upon several strong development and marketing alliances: Strategic collaboration with Procter & Gamble (announced January 1997) for H. pylori identification and eradication On-going progress in our programs to develop rapid tests for both Influenza A/B and Herpes Simplex Virus 1/2 which are fully funded by Glaxo Wellcome
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