SugenTech Achieves Russia's First Approval for COVID-19 Diagnostic Kit Use... "Supply Worth 13 Billion KRW"

[Asia Economy Reporter Yoo Hyun-seok] SuzenTech announced on the 20th that its novel coronavirus disease (COVID-19) antibody rapid diagnostic kit received official approval for use from the Russian government and signed a supply contract worth 13 billion KRW.

Until now, the COVID-19 antibody rapid diagnostic kits used in Russia had only received temporary use approval, not official approval. Although European-made antibody rapid diagnostic kits had previously received official approval in Russia, the approval was revoked after it was revealed that the product was actually a Chinese-made diagnostic kit with accuracy issues. Ultimately, SuzenTech's product underwent testing by the Russian government and received official approval, becoming the only antibody rapid diagnostic kit officially approved for use in Russia.

Russia recently saw a sharp increase in confirmed cases, becoming the country with the second highest number of cases worldwide after the United States. With the situation becoming serious, with confirmed cases reaching 240,000, the Russian government decided to urgently introduce SuzenTech's rapid diagnostic kits, which have verified accuracy. Lee Jung-eun, Vice President of SuzenTech, said, "It is quite unusual for the Russian government to grant official approval for SuzenTech's diagnostic kit in such a short time," adding, "This official approval is significant as it follows accuracy verification conducted by major European research institutes in Spain, Switzerland, and France, as well as formal registration with Brazil's ANVISA (National Health Surveillance Agency), demonstrating global recognition of SuzenTech's COVID-19 diagnostic kit quality and accuracy."

He continued, "Along with the official approval from the Russian government, SuzenTech has agreed to supply diagnostic kits worth 13 billion KRW to Russia through local companies, and these will be used by Russian government agencies, corporations, and medical institutions," he added.

Since last month, the total value of diagnostic kit supply contracts officially announced by SuzenTech has reached 60 billion KRW. SuzenTech began full-scale exports at the end of March, shipping diagnostic kits worth 10 billion KRW in April alone, and has been producing 2 million units per week since May. In addition to the contracted supply volume, there are many orders pending, and supply destinations have been confirmed for production volumes through the end of June.

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