[Asia Economy Reporter Minwoo Lee] NextBT's stock price is on the rise. As the novel coronavirus infection (COVID-19) resurges, protective suits certified by the U.S. Food and Drug Administration (FDA) and diagnostic devices produced by its subsidiary have come into the spotlight.
As of 1:55 PM on the 21st, NextBT's stock price recorded 1,995 KRW, up 5% from the previous day. The resurgence of COVID-19 appears to have acted as a positive factor for related businesses.
Earlier, on June 30, NextBT completed the U.S. FDA Medical Class 1 registration for its domestically produced protective suit, 'NextCare.' Since then, it has been promoting the expansion of distribution networks not only in the U.S. but also in global markets such as Europe. The European Conformity (CE) certification process is currently underway. Once CE certification is obtained, exports to major markets with high demand for protective suits, including the U.S. and European markets, will be possible.
The COVID-19 diagnostic kit business conducted by its subsidiary also seems to have acted as a positive factor. TCM Life Science, a molecular diagnostics specialist and a 100% subsidiary of NextBT, received CE certification for its COVID-19 diagnostic kit products in March. Subsequently, in May, it signed a supply contract worth 156 billion KRW for COVID-19 diagnostic kits with CrossOcean Medical Supplies, a U.S. medical device distribution company.
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