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Inevitably the derampers will put their usual negative spin on this. Even if we were awarded £374 mil tomorrow they’d still find something to moan about. For those of us that actually own shares we need to make our own minds up as to how this news will affect us in the long term. Personally I think the mologic story is perfectly timed. There couldn’t have been a better time to release this than after the demise of the government’s beloved innova. It’s a perfect way to add more pressure to government and especially Boris, who hates bad publicity. And what could be worse than an article in the Telegraph. So the sp may be affected short term but for me nothings changed. We make, we sell. In the uk, the eu or USA. It doesn’t matter. If you don’t agree fine, sell your shares and move on. Just make your own mind up and try to ignore twa-at her and co. They aren’t here to help you.
"Nothing has change for ODX, we are still waiting for the government to declare the sovereign"
The implication from the article is clear, Mologic fully expected to be declared a sov test a long time ago, and has not. this means that odx visitect test was expected to be the sov test.
Is it ever good when a company sues its buyer, especially when the buyer is uk gov ?
Almost unbelievably, it looks like ODX will have another test tied up in a legal process, and once again it is not even party to the legal process.
Shelley71 it maybe a short term setback but at least now there is a put up or shut situation. ODX make LFTs which ones I do not care. HMG now have to come out and defend Innova (which is difficult to do) or switch to a home grown test. Either way we will know. If we don't make tests for HMG then we will make them for someone else.
Deeks is commenting on Twitter
https://mobile.twitter.com/deeksj/status/1404493264129081345
“I think it is inevitable that Innnova has to be replaced ASAP”
If it was anyone other the Bojo and Handjob in charge i think you would be correct, but those two idiots have skin as thick as a rhino and only have their own interests in mind, For Mologic to come out and say what we were all suspicious of, the government are actively delaying making a sovereign test selection is a pretty poor reflection of the governments stated support for uk manufacturing
So where odx stands with all of this? Is it another setback?
Which test are they talking about mologic/Avacta one or mologic/vistect one (or is it both)? Can see a bit of carnage tomorrow sp wise.
From an ODX perspective I'd hope they are protected by govt contract i.e. being able to manafacture what govt wants ( does this make surescreen more likely?) also given positive FIND trial could see sales outsidenog UK for vistect. But in short term not impressed.
Police. I would day this is could be ckassed as crime againsnt the state. The gvnmt inmv have not put nationa3k interests first. Why arent the opposition parties all over this. That is also of great concern.
Well done Mologic for putting their heads over the parapet.
Different British diagnostic companies appear to be going about things in different ways (maybe AVCT will sell to Europe and not the UK).
We know of the difficulties being faced by Abingdon and NCYT and we saw the BBBB tweet at the weekend. And it does seem sometimes that the Government are keeping ODX hanging on a string.
The anger and frustration in the British diagnostics industry seems palpable.
All imo
Mark Davis CEO
We are quietly assured that that is the very best fast lateral stream diagnostic on this planet and the UK doesn’t need it. It additionally prices a fourth of the worth of the Innova test.
Shelley71 I assume like Gary you'll be selling up tomorrow and moving on. We all wish you well, let us know where you next invest just so we can avoid .
Now it is in the Telegraph maybe they will do something!
Police should be investigating the corruption that has been Government procurement and gatekeeping the approvals process.
I think it is inevitable that Innnova has to be replaced ASAP, and the Omega contracts actioned.
Aberdeenman
https://uk.newschant.com/business/covid-test-maker-mologic-set-to-sue-government-over-stonewalling/
https://www.telegraph.co.uk/business/2021/06/14/covid-test-maker-mologic-set-sue-government-stonewalling/
Behind paywall.