July 27, 2020 / 6:23 AM / 16 days ago

Diagnostics group Novacyt to launch more COVID-19 testing products

PARIS (Reuters) - Clinical diagnostics company Novacyt - one of many healthcare companies whose shares have surged during the pandemic - announced on Monday more new products to test for the presence of the coronavirus.

Novacyt said it was developing a respiratory testing panel to diagnose and distinguish between the ‘A’ and ‘B’ types of influenza, the respiratory syncytial virus (RSV) and COVID-19, with the launch of this product expected in September in time for the 2020/21 flu season in the northern hemisphere.

“The immediate pipeline of new products is expected to drive incremental revenue for the company in the near-term, but Novacyt’s strengthened financial position also means we are able to redefine our R&D pipeline for the next three years, which we expect to drive significant and continued growth opportunities in the longer-term,” said Novacyt CEO Graham Mullis.

Reporting by Sudip Kar-Gupta, editing by Louise Heavens

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