[Asia Economy Reporter Hyunseok Yoo] AndyForce is showing strong performance. It appears to be influenced by the news that President Moon Jae-in recently instructed to actively promote the use of antigen rapid diagnostic kits as a countermeasure against the spread of the novel coronavirus infection (COVID-19).
As of 2:37 PM on the 7th, AndyForce was trading at 6,810 KRW, up 5.75% (370 KRW) compared to the previous trading day.
President Moon Jae-in stated that “Recently, COVID-19 infections have rapidly spread mainly in the metropolitan area, and the proportion of infection route investigations is continuously increasing,” and instructed to “deploy the maximum available personnel to strengthen on-site epidemiological investigation capabilities in the metropolitan area.”
He continued, “Expand screening clinics and install and operate large-scale drive-through testing centers so that office workers and young people in the metropolitan area can conveniently and quickly get tested,” and emphasized, “Actively promote the use of antigen rapid tests, which have recently improved in accuracy and allow immediate confirmation of test results.”
The antigen rapid diagnostic method uses nasopharyngeal swab specimens to determine COVID-19 infection status within 10 minutes, enabling early quarantine measures. In particular, it does not require expensive testing equipment or specialized personnel, so it is used as a substitute for molecular diagnostics in areas where confirmed COVID-19 cases are rapidly increasing.
AndyForce obtained export approval from the domestic Ministry of Food and Drug Safety and European CE certification for antigen rapid diagnostic kits last October. It is currently pursuing emergency use authorization from the US FDA. So far, it has exported antigen rapid diagnostic kits to Indonesia and Southeast Asia, 18 countries in the Middle East and North Africa, Russia, and Central Asia, with export volumes expanding.
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