SD Biosensor Reports 1.38 Trillion KRW in Q1 Sales This Year... "Impact of Omicron Spread"

Operating Profit Hits Record High of 619.6 Billion KRW
New Rapid Diagnostic Device Cartridge Scheduled for Release in Q2

[Asia Economy Reporter Lee Gwan-joo] SD Biosensor announced on the 12th that it achieved consolidated sales of 1.38 trillion KRW and operating profit of 619.6 billion KRW in the first quarter of this year.

In the first quarter of this year, due to the spread of the COVID-19 Omicron variant, global demand for COVID-19 diagnostic products surged, and demand for non-COVID-19 diagnostic products also increased, resulting in record-breaking performance.

SD Biosensor is accelerating its global expansion, starting with the FDA emergency use authorization for COVID-19 self-test kits in the U.S. at the end of last year, followed by large orders from Canada and Japan earlier this year, and recently reaching Taiwan.

An SD Biosensor official said, “In the first quarter, we solidified our distribution network and increased production capacity through generous investments both domestically and internationally, including the acquisition of a German company and the establishment of a new factory in Jeungpyeong. In the second quarter, we plan to launch a new cartridge for the rapid PCR diagnostic device 'STANDARD M10,' diversifying test items to ensure it can be used in many hospitals both domestically and abroad.”

He added, “Preparing for the post-COVID-19 era, we will focus more on various diagnostic products such as vector-borne infections and cardiovascular diseases, supplying the global diagnostic market with a diversified business portfolio.”