LabGenomics Supplies $8 Billion COVID-19 Diagnostic Kits to Maryland State Government

[Asia Economy Reporter Minji Lee] LabGenomics, a molecular diagnostic healthcare company, will supply COVID-19 test kits to the Maryland state government in the United States. On the 2nd, the company received a purchase order from the Maryland state government and will deliver the kits to JK ICT, the designated partner company of the Maryland state government. The sales amount is approximately 8 billion KRW, which corresponds to 24% of last year's sales revenue.

Maryland is an Atlantic coastal state with a population of 6 million, adjacent to the U.S. capital, Washington D.C. Since the early outbreak of COVID-19, Maryland has implemented strong containment policies through the governor's executive orders, but recently, the demand for testing has surged due to an increase in confirmed cases.

A company representative stated, “We have currently completed the FDA approval application and are awaiting the results,” adding, “Due to the global spread trend, supply requests are flooding in from overseas markets including the U.S., Europe, Asia, and South America. We have completed the first expansion from 100,000 tests per day to 200,000 tests per day, enabling a monthly production capacity of 4 million tests.” The representative also said, “To respond to the increased supply requests after FDA approval, we plan a second production line expansion and adjustments to work shifts.”

In addition to Maryland, the company is also in discussions with several other U.S. state governments where COVID-19 cases are rising, so additional orders from the U.S. are expected.

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