GCMS Signs $264 Million COVID-19 Test Kit Export Deal with U.S.
[Asia Economy, reporter Cho Hyunui] GCMS has signed a contract to supply COVID-19 antigen test kits worth $264 million (approximately 290.4 billion KRW) to the United States.
On December 29, GCMS announced, "We have signed a supply contract for the antigen test kit 'GENEDIA W COVID-19 Ag' with MCA Partners, a partner of a U.S.-based diagnostic kit wholesale distributor."
The scale of this contract exceeds three times the company's sales revenue from the previous year (34.1 billion KRW). The order volume amounts to 60 million test units, and full-scale sales will begin as soon as the product receives Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA).
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An Eunok, CEO of GCMS, stated, "This contract is significant as it represents a challenge in the U.S. market, which is the largest demand area for COVID-19 test kits and requires stringent approval procedures."
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