SugenTech Signs Supply Contract for 2 Million COVID-19 Test Kits... "Supplying Major Countries Including Europe and the US"

[Asia Economy Reporter Hyunseok Yoo] SuzenTech announced on the 3rd that it has signed a large-scale supply contract for 2 million units with the Germany-based multinational diagnostic device company 'Diasys'.

This contract follows an emergency supply agreement for 200,000 units of the 'COVID-19 Antigen Rapid Diagnostic Kit'. Diasys plans to supply SuzenTech's COVID-19 rapid diagnostic kits primarily to major countries including Germany, Europe, and the United States.

Through this contract, SuzenTech will supply Diasys with ▲ COVID-19 Antibody Rapid Diagnostic Kits ▲ COVID-19 Antigen Rapid Diagnostic Kits ▲ COVID-19-Influenza Antigen Simultaneous Diagnostic Kits ▲ Influenza Antigen Rapid Diagnostic Kits.

Diasys will initially supply these products to major countries such as Germany-centered Europe and the United States through its distribution network. This supply contract is a 'non-exclusive' agreement, and since Diasys has a global product distribution network, it plans to expand product distribution to major countries worldwide according to future demand.

Since SuzenTech's product lineup has already received certification from many major overseas countries and completed quality verification, product supply is expected to proceed smoothly as demand sources are secured.

SuzenTech's 'COVID-19 Antibody Rapid Diagnostic Kit' was the first in Korea to receive emergency approval from the US FDA, and last month, the 'COVID-19 Antigen Rapid Diagnostic Kit' was approved by the German Federal Ministry of Health. Recently, with the arrival of the changing seasons and growing global concerns about the simultaneous spread of 'COVID-19-Influenza'?a 'double pandemic'?the 'COVID-19-Influenza Simultaneous Rapid Diagnostic Kit' received export approval from the Ministry of Food and Drug Safety.

A SuzenTech official stated, "Demand for antibody and antigen rapid diagnostic kits is increasing in the US and Europe, where confirmed cases are high, as well as in regions with relatively poor quarantine infrastructure such as Asia and South America. Since this supply contract is non-exclusive, we plan to actively target the global COVID-19 diagnostic market by engaging in additional supply discussions with multinational companies that have global distribution networks."

He added, "The number of COVID-19 confirmed cases is rapidly increasing in European regions such as France and Germany, and the US is also recording record-high case numbers, indicating a resurgence of COVID-19. Therefore, there is a high possibility that Diasys's supply volume will expand. Following the antibody diagnostic kit, we are also pursuing FDA approval for the antigen rapid diagnostic kit. Once approved, supply of the 'Antigen Diagnostic Kit' and the 'COVID-19-Influenza Simultaneous Diagnostic Kit' will be possible, so demand for COVID-19 product lines is expected to increase significantly in the future."