Trinity Biotech Announces It Has Begun Shipments Of Its New HIV Screening Test, TrinScreen HIV To Kenya
Portfolio Pulse from Benzinga Newsdesk
Trinity Biotech plc (NASDAQ:TRIB) has started shipping its new rapid HIV screening test, TrinScreen HIV, to Kenya. The initial order consists of 2.5 million tests, with further shipments planned for early 2024. Kenya's HIV screening program, one of Africa's largest, performs approximately 10 million tests annually. Trinity Biotech expects to receive additional orders throughout 2024, as Kenya has secured funding from sponsors like Global Fund and USAID for all 10 million required tests. The new HIV testing algorithm, including TrinScreen HIV, will be implemented in January 2024. The company sees this as a significant opportunity to expand its presence in the HIV screening market across Africa, which is part of a global market estimated at 150 million tests annually.
December 27, 2023 | 1:58 pm
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Trinity Biotech has commenced shipments of its new HIV test to Kenya, with the potential for significant revenue as it fulfills the initial order and anticipates further orders in 2024.
The commencement of shipments to Kenya represents a direct revenue opportunity for Trinity Biotech. The initial order of 2.5 million tests and the expectation of additional orders in 2024 suggest a positive outlook for the company's sales and market presence in Africa. The endorsement by Kenya and the adoption of WHO guidelines by other African countries could lead to increased demand for TrinScreen HIV, further boosting Trinity Biotech's market share and financial performance in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100