Industry News

Highlights on market developments and company updates from India and around the world. Stay tuned!

Neuberg Diagnostics expands global footprint into Western Asia and Africa

Neuberg Diagnostics, a newly formed international alliance of five laboratories from Bangalore, India;  Ahmedabad, India; Chennai, India; South Africa and Dubai is further expanding its global footprint into Africa and Western Asia regions. 

Chennai headquartered Neuberg will be opening new labs in Kenya and Tanzania this year with Nigeria and Ghana in the pipeline. Through an acquisition of Global Clinical & Viral Lab, a center for virology in Durham, South Africa, Neuberg will focus on addressing tuberculosis and HIV testing in the African market. 

Neuberg Diagnsotics Chairman GSK Velu had earlier this year talked about investing INR 300 crore for further expansion and growth. The company will also be expanding its portfolio into other personalized medicine initiatives. 

Co-Diagnostics provides key updates in annual report

In it’s initial annual report filed in form 10-K, Co-Diagnostics provided important updates on its expansion in the US, Indian and Dominican Republic markets. Co-Diagnostics, a molecular diagnostic Utah corporation, develops and manufactures molecular diagnostic tools and tests for infectious diseases, liquid biopsies and agriculture. 

In 2017, Co-Diagnostics formed a joint venture ‘CoSara Diagnostics’ with Synbiotics Private Limited to build a diagnostic test manufacturing facility in India. The company also signed a purchase agreement with MEDCIS Pathlabs Private Limited to purchase diagnostic tests for tuberculosis, Hepatitis B, Hepatitis C, HIV and human papillomavirus. Sales of these tests will commence third quarter 2018 through  CoSara Diagnostics. 

In addition, the company also discussed it’s new lease on a BSL-2 facility in Utah that will manufacture tests for the US market followed by exports outside the US. Working in collaboration with the Ministries of Health in the Caribbean region, Co-Diagnostics has made strides to tackle outbreaks of Zika virus, tuberculosis, malaria, West Nile virus, chikungunya and dengue with its vector control program. 

Co-Diagnostics reported annual revenue of $7662 in 2017 versus none for 2016.

23andMe will test for breast cancer genes

The U.S. Food and Drug Administration news release states that the agency has granted marketing authorization to 23andme, a leading consumer DNA testing company for testing and reporting of three BRCA1/BRCA2 gene mutations.

This is the first FDA authorization for a direct-to-consumer genetic test for cancer risk and positions 23andMe to be a key stakeholder for consumers who wish to test for breast and ovarian cancer risk.

The FDA release states that the report will provide women information on the risk for developing breast and ovarian cancer as well as men who may be at an increased risk for breast or prostate cancer. It also provides guidance that though these mutations are known to be prevalent in Ashkenazi (Eastern European) Jewish descent, they are not commonly observed in the general population; in fact they are just three of the more than 1000 known BRCA mutations. The FDA is thereforeadvising consumers to consult their physician and/or genetic counselors to better understand cancer risk.

Source: FDA