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LabGenomics to supply advanced COVID-19 test kits to India

LabGun COVID-19 ExoFast RT-PCR Kit (LabGenomics)
LabGun COVID-19 ExoFast RT-PCR Kit (LabGenomics)
South Korea’s LabGenomics, which focuses on molecular diagnostics, said Thursday it has bagged a deal to supply advanced COVID-19 test kits to Siemens Healthineers in India.

According to the company, it has signed a 5.8 billion won ($4.8 million) contract with the Indian medical technology firm to supply real-time polymerase chain reaction test kits for COVID-19 that can detect SARS CoV-2 virus infection in 35 minutes.

This deal is worth 17.5 percent of LabGenomics’ yearly revenue in 2019.

The test kit is called LabGun COVID-19 ExoFast RT-PCR Kit, and India is the first country to have access to it.

Seeing the rapid growth in India’s infection rate, LabGenomics expects additional orders.

The company said that its kits can dramatically increase efficiency in pandemic management by allowing five-fold number of examinations per diagnostics machine.

LabGenomics hopes to export its kits to some 20 countries including the US, Canada and South Africa.

By Lim Jeong-yeo (kaylalim@heraldcorp.com)
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