BGI Approved to Sell Coronavirus Test Kits to Australia

11 ratings

Chinese genome sequencing service provider BGI Genomics [300676:CH] recently received approval from the Australian government to provide 10m coronavirus test kits to the country, as reported by Reuters on May 6. In addition, Australia said that the Chinese genomics company would not invade patient privacy. BGI has received a European CE Certification and emergency approval from China's National Medical Products Administration (NMPA), the US FDA, Japan’s Pharmaceutical and Medical Devices Agency (PMDA), and Australia’s Therapeutic Goods Administration (TGA) for its coronavirus test kits.

The outbreak of COVID-19 boosted BGI’s business up and rapidly expand its overseas business. Citing the 1Q20 earnings report, the enterprise achieved operating revenue and net profit attributable to shareholders of RMB791.19m and RMB140.02m, soaring by 35.78% YoY and 42.59% YoY, respectively. Notably, earlier, the Australian government called for a global investigation into the COVID-19 outbreak after the US government attempted to blame the pandemic on China. Also, Australia has excluded Huawei from its 5G network construction due to the concern of security. However, this time, Australian security divisions have allowed local medical institutions to mass use BGI’s equipment against the pandemic. Meanwhile, BGI’s Australia Director, Yang Bicheng, highlighted that the company would offer related technology and medical equipment to test the viral RNA only, without accessing and collecting personal data. BGI added that 11 Australian labs have installed BGI’s nucleic acid extraction machines at present.

Related Tags
Industry Topics
Biotechnology & Medical Research