Edition:
India

Cellmid Updates Market On COVID-19 Impact


Friday, 27 Mar 2020 

March 27 (Reuters) - Cellmid Ltd ::PRUDENT TO WITHDRAW PREVIOUS GUIDANCE THAT IT WILL ACHIEVE OPERATIONAL PROFITABILITY FOR ITS CONSUMER BUSINESS BY END OF FY2020.JAPANESE BUSINESS EXPECTED TO DELIVER ON BUDGET FOR SECOND HALF OF 2020 FINANCIAL YEAR.DELIVERY OF CHINESE EXPORT ORDER NOW EXPECTED TO OCCUR IN TWO SPERATE SHIPMENTS IN APRIL AND MAY 2020.OPERATIONAL EXPENDITURE OF CO REDUCED WHERE SENSIBLE.RECENTLY SECURED SUPPLY OF WONDFO COVID-19 RAPID DIAGNOSTIC TEST IN AUSTRALIA.CELLMID-AUSTRALIA PRODUCT LAUNCH PLANNED FOR MARCH IN PRICELINE HAS BEEN DELAYED, WILL START EFFECTING SALES FROM APRIL ONWARDS LOCALLY.WILL SEPARATE LYRAMID INTO WHOLLY INDEPENDENT ENTITY BACKED BY INDEPENDENT FUNDING AND/OR PARTNERSHIP WITH BIOPHARMACEUTICAL CO BY 2020 END.