RESPONSE FROM MEDICAL/HEALTHCARE ENTITIES & WHOLESALERS HAS BEEN CRUSHING AS GROUPS QUEUE UP FOR COVID-19 "SWIFT" KIT WHILE WE AWAIT FDA EMERGENCY APPROVAL
LOS ANGELES, CA / ACCESSWIRE / March 17, 2020 / Decision Diagnostics Corp. (OTCPINK: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 this second of four updates about our GenViro™ Swift" kit for the testing of COVID-19, we will focus on our expected roll-out. We are happy to inform all interested parties that we have raised our 12-month forecast to 525 million kits. We have also added commercial laboratories, those labs with remote blood drawing stations (an estimated 27,000 nationwide), and religious groups to those entities that will receive the first kits manufactured post FDA Emergency Approval. These additional groups join chain pharmacies and grocers with pharmacies, clinics, home health service providers, and medical group practices as the first to receive our GenViro™ kits.
Keith Berman, CEO of DECN commented, "Our first roll-out of 150,000 GenViro™ kits in the US and Canada will be paired with a roll-out of 100,000 GenViro™ kits in the EU. The first kits manufactured will be provided, free of charge or at a nominal fee, to professional entities. These groups include chain pharmacies and grocery store pharmacies, commercial laboratories with remote blood drawing stations, churches and other places of worship, as well as clinics and long term care facilities. Ultimately, GenViro™ will be sold directly to consumers, as our roll-out progresses."
Mr. Berman continued, "Over the weekend, and after receiving a plan from our technical and R&D director, we decided to take the next step with GenViro™and further refine its use for hospitals. While we have not yet forecast sales to hospitals, and while most of the lesser but competitive products are directed toward hospital uses, we nonetheless believe that hospitals will be a large future source of revenues. When we complete this round of information releases, our fourth release will include a hospital forecast.
Revised 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 |
6000 |
6000 |
6000 |
6000 |
6000 |
6000 |
6000 |
|
|
Retained Facilities |
0 |
0 |
0 |
0 |
0 |
0 |
6000 |
12000 |
18000 |
24000 |
30000 |
36000 |
|
|
Total Facility Customers |
0 |
0 |
0 |
0 |
0 |
6000 |
12000 |
18000 |
24000 |
30000 |
36000 |
43000 |
169,000 |
|
Kits Consumed |
0 |
0 |
0 |
0 |
0 |
21,000,000 |
36,000,000 |
54,000,000 |
72,000,000 |
92,000,000 |
120,000,000 |
150,000,000 |
525,000,000 |
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. To date we have discussed our GenViro™ product with a big box pharmacy chain, a master medical products distribution company, a large commercial lab, and a home health organization. All of these entities want the kits and we intend to write their business.
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 wholesale $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.
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 16, 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.