Initial Sales of GenVirotm Covid19 to be to Big Box Pharmacies, Group Practices, Long Term Care Facilities and Stand-alone Clinics; Average Wholesale Price of the Kit Expected to be @ $6.95
LOS ANGELES, CA / ACCESSWIRE / March 11, 2020 / Decision Diagnostics Corp. (OTC PINK:DECN) is an 18-year old, diabetes-focused bio-technology development firm, manufacturer, quality plan administrator, FDA registered medical device customer support organization, and exclusive worldwide sales and regulatory process agent for the GenUltimate! ("Sunshine") diabetes test strip, its GenAccord! systems for the uninsured and under-insured, its GenChoice! ("Ladybug") test strip now in the later stages of FDA 510(k) prosecution, and its GenUltimate Precis products manufactured for International markets.
Today, in the third discussion of our break-through test for the coronavirus (COVID19), we present the Coronavirus test kit and the Phase 1 unit forecast. The introduction of our new screening methodology for the Coronavirus (Covid19) will provide a timely, simple to use and cost effective solution for the screening of the frightening COVID19 virus. First uses of our kits will be in pharmacies, doctor's offices, clinics and urgent care centers, and long term care facilities. We anticipate the sale of 420,000,000 kits in the first full year of commercial sale. The company has retained FDA counsel who is in the process of securing expected emergency waiver for diagnostics and diagnostic devices.
Keith Berman, CEO of DECN commented, "Because we perfected the Impedance technology in 2019 for our GenUltimate TBG glucose test strip and meter, we have shaved months off of the development time for the GenViro! device. Our GenViro! impedance powered diagnostic will be field tested at ground-zero in Daegu, Korea, the location of our factory and the hospital based testing site, and where 1200+ people have already been overcome by Coronavirus (COVID19). Everyone who has succumbed to this type of flu, has been a blood donor at their testing facility or hospital. Daugu, Korea is one of the few places where acquiring donors will not be an issue. GenViro! will be a perfect storm product and our timing here is spot-on. Our biggest challenge will be meeting the expected crushing demand. For that we prepared, and are interviewing most likely partners currently."
Mr. Berman continued, "I cannot say often enough, we are developing a Coronavirus screening method, not a cure or a vaccine for the Covid19 virus. That being said, our screening method should allow for 80% of those who suspect that they carry the Coronavirus, to exit the potential quarantine in those places where Coronavirus is rampant, and a higher percentage where it is not.
GenViro! 12-Month Forecast
|
Number of Months |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
11 |
12 |
SUM |
|
Year 1 |
Apr-20 |
May-20 |
Jun-20 |
Jul-20 |
Aug-20 |
Sep-20 |
Oct-20 |
Nov-20 |
Dec-20 |
Jan-21 |
Feb-21 |
Mar-21 |
|
|
New Facility Customers |
0 |
0 |
0 |
0 |
0 |
5000 |
5000 |
5000 |
5000 |
5000 |
5000 |
5000 |
|
|
Retained Facilities |
0 |
0 |
0 |
0 |
0 |
0 |
5000 |
10000 |
15000 |
20000 |
25000 |
30000 |
|
|
Total Facility Customers |
0 |
0 |
0 |
0 |
0 |
5000 |
10000 |
15000 |
20000 |
25000 |
30000 |
35000 |
35,000 |
|
Kits Consumed |
0 |
0 |
0 |
0 |
0 |
15,000,000 |
30,000,000 |
45,000,000 |
60,000,000 |
75,000,000 |
90,000,000 |
105,000,000 |
420,000,000 |
We are not resting our laurels with our GenViro development. Later product entries will be test methods for Polio, Ebola (Marburg), Bird Flu, and SARS. The cost of our test kits will be sold in a price range of $4.95 to $7.95 per use. The Coronavirus kit will be sold for $6.95. Each kit sold will carry enough diagnostic for two tests, a primary test, and a test in reserve in case of human error in administrating the primary test. We plan to provide our diagnostics initially for use at hospitals, doctors' offices, and clinics. Once production ramps up, we will offer testing kits and meters to patients for testing at-home.
Mr. Berman concluded, "As you might imagine with a product announcement of such importance, we have been contacted by a number of potential partners for our kit, as well as companies who were not chosen last time to proceed past the proposition stage. The company's first choice for partnering will be a company that made "the cut" last time for our GenUltimate! TBG product. We will discuss partnering potential in a coming release. For the moment, the company is content calling on big box and long term care chains through its existing distributors and agents."
DECN also markets its PetSure! test strip for the diabetic testing of dogs and cats, a diagnostic specifically designed to run on the market leding Zoetis Alpha Trak meter system as well as the GenUltimate! 4Pets Test strip and Avantage! meter. The company has also just introduced its GenExpidient! Universal Translator for bio-sensor devices of different manufacture. A GenExpidient! device will be included in every Covid19 kit. Having such a device will lower the incidence of cleaning and disinfecting the GenViro! meter.
ABOUT DECISION DIAGNOSTICS CORP
Decision Diagnostics Corp. is the leading manufacturer and worldwide distributor of diabetic test strips engineered to operate on legacy glucose meters. DECN's products are designed to operate efficiently and less expensively on certain glucose meters already in use by almost 7.5 million diabetics worldwide. With new inspired technology diabetic test strips already in the final stages of development, DECN products compete on a worldwide scale with legacy manufacturers currently selling to 71+ percent of a $15+ billion at-home testing market. The company's GenUltimate TBG product is not yet available for sale in the United States or Puerto Rico but is for sale in select International markets since late February 2020.
Forward-Looking Statements:
This release contains the company's forward-looking statements which are based on management's current expectations and assumptions as of March 11 2020, regarding the company's business and performance, its prospects, current factors, the economy, and other future conditions and forecasts of future events, circumstances, and results.
CONTACT INFORMATION:
Decision Diagnostics Corp.
Keith Berman (805) 446-2973
[email protected]
www.genultimate.com
www.genultimatetbg.com
www.petsureteststrips.com
www.pharmatechdirect.com
SOURCE: Decision Diagnostics Corp.