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genedrive soars as it confirms receipt of Indian import licence for COVID-19 test

The licence follows approval of the test by the Indian Centre for Medical Research on April 30

Genedrive PLC - genedrive soars as it confirms receipt of Indian import licence for COVID-19 test

genedrive PLC (LON:GDR) shares surged on Friday after the diagnostics firm confirmed it has received a licence to import its COVID-19 testing kit into India through its partner DIVOC Health.

The AIM-listed firm said the licence follows approval of the product by the Indian Centre for Medical Research on April 30.

READ: genedrive COVID-19 PCR test approved by the Indian regulator

genedrive added that India has introduced pricing controls in its routine public testing market that favours the provision of lower cost/basic tests than its own kit. As a result, the firm said it is continuing to assess specific commercial opportunities with DIVOC Health in the Indian public and private markets.

The company’s shares were up 25.2% at 62p in mid-afternoon trading.

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Price: 25 GBX

Market Cap: £15.83 m

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