Diagnostics Manufacturing Facility Launches in India to Service Growing Indian Healthcare Market
April 25 2019 - 6:00AM
The long-awaited molecular diagnostics
manufacturing facility for the Indian joint venture between
Co-Diagnostics Inc. and Synbiotics Pvt Ltd has finally launched,
according to news released last week.
BDA International client company Co-Diagnostics
first announced the formation of the CoSara Diagnostics Pvt Ltd
joint venture with Synbiotics in 2017. Since that time,
shareholders have been eager for any news or updates concerning the
completion of the facility that was described as one of the first
of its kind in India, and is expected to provide molecular
diagnostics across the country of India (nearly 18% of the world’s
population, and expected to grow into the world’s largest single
healthcare market in the next several years).
Co-Diagnostics, Inc. (CODX), a
Nasdaq-listed Utah corporation, is a molecular diagnostics company
that develops, manufactures and markets a new, state-of-the-art
diagnostics technology. The technology is utilized for tests that
are designed using the detection and/or analysis of nucleic acid
molecules (DNA or RNA).
Synbiotics is an Indian pharmaceutical
manufacturing company, whose management and operations teams have
vast experience setting up state-of-the-art manufacturing MedTech
manufacturing facilities, including compliance with all national
and international regulatory requirements (WHO-GMP, US FDA, EU-GMP,
etc). All commercial operations are undertaken by Asence Inc, a
U.S. company that specializes in supplying pharmaceutical products
to international markets. Both Synbiotics and Asence are
subsidiaries of Ambalal Sarabhai Enterprises Ltd., or ASE, a
continuation of one of the oldest and most respected manufacturing
institutions in India in operation today. The Sarabhai family
has run the company since its inception as textile mills in the
19th century, building an empire that in modern times has led to
ASE being synonymous with trusted, quality pharmaceuticals.
The press announcement included that the CoSara
facility is not only complete, but was also planned to allow for
further expansion in the future. Stakeholders in CODX should be
able to breathe a sigh of relief that Co-Diagnostics now has the
operational capacity, logistical/compliance support, and valuable
connections that will facilitate revenue growth in their infectious
disease initiative and access to an important global healthcare
market.
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