SEOUL, South Korea: Last year, South Korean biotech firm SolGent made diagnostic kits for 300,000 tests. Today, it is churning out more than that in a week, and production will further rise to 400,000 coronavirus tests next week. That’s still not fast enough to meet surging demand for the kits from all over the world, especially the United States and Europe, where the coronavirus outbreak is spreading explosively, SolGent CEO You Jae-hyung told Reuters. SolGent, which is one of the five firms that have received fast-track approval to make test kits for South Korea, is capitalizing on the country’s success in containing its outbreak to boost exports, with cases slowing down at home. It parent, EDGC , is among the top performing stocks on the junior Kosdaq market, with shares jumping 151 per cent so far this year. SolGent is also speeding up a plan for an IPO next year, You said. “The number of orders is simply astonishing. This is not something we have ever experienced before,” he said. “Many of our employees are pulling off all-nighters and working on weekends.” READ: US has most COVID-19 cases in the world SolGent has even got offers from three US biotech firms to… Read full this story
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