Diasorin down sharply on outlook disappointment

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MILAN (Global Markets) - Shares in Italian medical diagnostics company Diasorin fell more than 10 percent on Friday, after its chief executive gave a disappointing outlook on the vitamin-D testing market.

Chief Executive Carlo Rosa said in a conference call he expected the vitamin-D testing market to fall between 15 to 20 percent globally in 2012.

"The fall in prices in the United States is sharper than what we expected," he said in the call after the group unveiled 2011 results.

By 1524 GMT, shares in Diasorin were suspended, indicated down 7 percent.

A Milan-based trader said: "The focus is very much on vitamin-D, which is suffering a lot from aggressive prices from competitors which entered the market in the last quarter."

DiaSorin said earlier on Friday net sales rose 8.8 percent in 2011 to 440 million euros, while its core earnings rose 13.7 percent. The group said it expected 2012 sales "in line or slightly higher" than 2011.

Diasorin competes with Siemens AG in the United States.

(Reporting by Massimo Gaia, Andrea Mandala and Michel Rose)