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Omega Diagnostics inks supply contract for Covid-19 rapid tests
StockMarketWire.com
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Disease test kit supplier Omega Diagnostics said it had signed a supply contract with Abingdon Health, which is leading a UK rapid testing consortium for Covid-19.
Omega Diagnostics said the contract set out the term of the supply of goods from consortium members to Abingdon Health.
It followed the UK government's initial order of 1 million Covid-19 lateral flow antibody tests.
The company said the contract formalised an agreement for Abingdon Health to supply rapid tests to the Department of Health and Social Care.
Abingdon Health would undertake its own manufacturing with Omega and BBI Solutions also manufacturing and supplying rapid tests to Abingdon Health.
CIGA Healthcare would carry out assembly services, while Omega would manufacture not less than 25% of the demand from total orders placed, either from the UK government or, where allowed, third party customers.
'Pricing of the tests is confidential, however Omega expects to receive revenue per test which is slightly ahead of market expectations as outlined in 22 June 2020 analyst forecasts,' Omega said.
Story provided by StockMarketWire.com
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