CEMI - Chembio surges on purchase order for COVID-19 antigen test from Brazil

legna69/iStock via Getty Images Chembio Diagnostics (CEMI) has gained ~96.1% in early trading after the company announced that it received a purchase order valued at $28.3M for the delivery of Chembio’s DPP SARS-CoV-2 antigen test to support the containment of the pandemic in Brazil. The company has received the order from Bio-Manguinhos to deliver the test in 2021 to meet the urgent needs of Brazil’s Ministry of Health, Chembio said in a statement. Chembio’s Brazilian subsidiary obtained regulatory approval in Brazil for the test in November 2020. “We believe the purchase order validates the investments we made earlier this year in inventory for the DPP SARS-CoV-2 Antigen test and look forward to ramping up production,” commented Chembio’s Executive VP Javan Esfandiari. DPP SARS-CoV-2 antigen test won the European marketing authorization early this year.

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Chembio surges on purchase order for COVID—19 antigen test from Brazil