[Click eStock] "SugenTech, Focus on Changes Brought by COVID-19 Diagnostic Kits"

[Asia Economy Reporter Jang Hyowon] KTB Investment & Securities analyzed on the 31st that attention should be paid to the changes brought by SuzenTech's development of a novel coronavirus disease (COVID-19) diagnostic kit.

Kim Youngjun, a researcher at KTB Investment & Securities, explained in a report on the same day, "SuzenTech manufactures COVID-19 'antibody diagnostic kits' and, after obtaining European CE certification and export approval from the Korean Ministry of Food and Drug Safety, is exporting to Europe, Latin America, Asia, the Middle East, and Africa."

SuzenTech is an in vitro diagnostic specialized company that was listed on the KOSDAQ market in May last year through a technology special listing. It is engaged in the development and sales of multiplex immunoblot, mobile diagnostics, and point-of-care diagnostic products.

Researcher Kim analyzed, "SuzenTech's products diagnose COVID-19 using IgG and IgM antibodies," and added, "There is a low possibility of errors during specimen collection, and compared to PCR tests, it has advantages in terms of time, cost, and space."

He continued, "Starting with the export of 50,000 kits this week, the company plans to have a production capacity of 200,000 units per week by the end of April and 400,000 units per week by the end of May."

Furthermore, he added, "SuzenTech's 2020 performance is expected to be favorable due to the COVID-19 diagnostic kits," and "At the same time, the company plans to expand its sales network, which is also expected to increase sales of tuberculosis diagnostic and allergy diagnostic products currently under development and certification."

This content was produced with the assistance of AI translation services.