Business
Distribution update for India
Distribution update for India.
About this update from Genedrive Plc
[{"type":"text","content":"\n \nRNS Number : 3351V Genedrive PLC 02 November 2017 \n\n \n2 November 2017 \ngenedrive plc (\"genedrive\" or the \"Company\")\nUpdate on Distribution arrangements for India / SAARC1 \ngenedrive plc (LSE:GDR), the molecular diagnostics company, today provides an update on its distribution arrangements in India / SAARC (\"the Territory\"). \n \nAs previously announced, commercialisation of the MTB/RIF tuberculosis tests in India has been challenging for some time. Initially genedrive encountered a specific sample preparation problem which was subsequently identified to stem from a supplier component specific to the MTB/RIF test. The corrective action had been successfully tested initially in Indian reference laboratories however we have experienced difficulties assessing the impact of this through our commercial partner Xcleris Labs Limited (\"Xcelris\"). \n \nThe Company has now terminated its agreement with Xcelris in the Territory and will continue to review how best to address the Indian market and the broader global potential of Genedrive® in tuberculosis testing. As previously communicated the Company does not expect to generate short term revenues from the Genedrive® MTB/RIF test.\n \nDavid Budd, Chief Executive Officer of genedrive plc, commented: \"The termination of the contract is of course disappointing, however, the overall market dynamics of MTB/RIF have not changed since we first described the opportunity. The clinical challenges remain, and the market is large and well defined with significant potential in decentralised settings. With the benefit of additional experience acquired in the field, we believe that with some enhancement to sample collection we can introduce a product suitable for not only the Indian market, but the broader global markets into which we now have distribution channels.\" \n \n- Ends -\nFor further details please contact:\ngenedrive plc\nDavid Budd: CEO &nb...