Halifax-based MedMira (TSX: V.MIR, Stock Forum), saw its shares jump more than 45% to eight cents Tuesday, after the company today that it is has established a private label partnership with Swiss company Vitest AG to market and sell the company’s rapid HIV tests in Africa.
Vitest is an established private label partner of MedMira, and will sell the tests under the Vitest brand.
"MedMira and Vitest are coming together to respond to a growing need and to deliver, what we believe will be the highest quality and most superior rapid HIV test available in the African market," said Jörg-Michael Hollidt, CEO, Vitest AG. "The collaboration between our two companies enables us to deliver quickly and efficiently a high quality, world class diagnostic solution with the flexibility to meet the varied needs of public health and private company testing programs in Africa."
MedMira, which developer and markets of rapid diagnostic technology and solutions, says that under the agreement, MedMira will manufacture its complete line of rapid diagnostics, which includes HIV, hepatitis and multiple tests for Vitest to market and sell through various channels in Africa, including public health tenders and private company-sponsored programs.
Hermes Chan, CEO of MedMira said: "By integrating our efforts we can successfully meet the pricing and volume requirements that the Africa market demands. The focus of our partnership will be to deliver high volumes of quality rapid HIV tests at market-driven prices."
Stockhouse member torts made the following comment on the company’s Bullboard Tuesday: “Well it's a start. The last news re:private label shipments to this company the shareprice was 55 cents. Which to me seems a more reasonable price[sic]”…
