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Metronic eyes US$1b revenue from Covid-19 immune test kit

23 Feb 2021 / 22:02 H.

KUALA LUMPUR: Metronic Global Bhd is expecting US$1 billion in turnover from its monopoly of COVID-19 immune system test kit supply chain worldwide.

The company in a statement today said it has received pre-orders for a total of 50 million test kits from companies within Southeast Asia, causing its order book to swell by US$350 million.

The company has received two letters of intent from MTPS Innotech which pre-ordered 30 million test kits, valued at US$210 million and Genesprint Group Limited which pre-ordered 20 million test kits, valued at US$140 million.

On Feb 2, Metronic’s wholly-owned subsidiary, Metronic Medicare Sdn Bhd inked a joint research and development agreement with Joysbio (Tianjin) Biotechnology Co Ltd for the test kit.

“This test kit analyses a patient’s level of immunity against future COVID-19 infection after the patient is vaccinated.

“If the patient’s immunity against COVID-19 is below acceptable level, the patient may be recommended to take additional booster dose of vaccine. The tester can also detect COVID-19 infected person,” Metronic said.

Chief executive officer cum executive director, Hoo Wai Keong said the sales volume of the test kit will reach 152 million, representing only two per cent of the world population in the next two years.

“If the sales target of 152 million test kits is reached, it will be able to create a turnover of up to US$1 billion for Metronic. The first batch of orders will come from pharmaceutical groups of Thailand, Hong Kong, Indonesia, Singapore and the Philippines,” he said. -Bernama

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