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Osmetech plc, the international healthcare diagnostics group will provide the following update during its Annual General Meeting at 11:00am today:
Our Critical Care business continues to build on the sales growth achieved in 2005 and as expected, demand in the current year for the Division’s OPTI range of blood gas analysis products has remained strong in both the human and veterinary markets.
For the remainder of 2006 we expect the healthy levels of demand in the Critical Care Division to continue and therefore be another year of growth for this division.
Osmetech continues to make significant progress and remains on schedule with its new product launches. As planned, in March we launched our FDA approved eSensor Cystic Fibrosis Carrier Detection test and eSensor 4800 DNA Detection instrument and later this month we will launch our OPTI TUBE product for use in the Roche LightCycler as a cost-effective and safe alternative to the Roche glass capillaries. Our OPTI GENE instrument and proprietary consumable system for the rapid detection of DNA and RNA targets will be available for sale in June, although the product will be fully launched with thrombophilia assays at the American Association of Clinical Chemists (AACC) Conference in Chicago in July.
We have been delighted with the initial stages of product commercialisation in this fast growing market sector. We plan to replicate the successful Critical Care business model of selling instruments and proprietary tests primarily to small and medium sized hospitals across the globe through our well established distribution networks.
The installation of instruments will provide the basis of future revenues by introducing a wider range of tests, developed both by Osmetech and third parties. In addition, our instruments have significant potential in other markets, such as veterinary, environmental and forensics, which we would look to exploit through strategic partnerships.
The Board remains confident that 2006 will be a strong year for Osmetech.
Our Critical Care Division is on track to achieve another profitable performance and will continue to provide a strong base and proven infrastructure for the Group overall as we introduce products in the molecular diagnostics market.
We fully expect to be able to demonstrate the value of our strong position and the considerable opportunities that exist in the exciting molecular diagnostics market as we enter the important commercialisation phase.
For further information:
Osmetech plc +44 (0)207 849 6027
James White, Chief Executive Officer
David Sandilands , Chief Financial Officer
Madano partnership +44 (0)207 593 4000
Matthew Moth
Mark Way |
