AKR.L Share News (AKR)

Akers Biosciences, which manufactures rapid diagnostic screening and testing products, has entered into a sales and distribution agreement with US-based Typenex Medical, a product development and sales organisation. Under the contract, which can be renewed after one year by mutual consent, the group will supply two of its rapid tests that are used to rapidly diagnose Heparin-Induced Thrombocytopenia (HIT), which is a life- and limb-threatening condition. The group explained that the deal marked a change in its strategy to accelerate sales of its two signature heparin tests. To date, the company's revenues from the tests have been generated by a distribution network comprising the top two distributors in the US hospital market. The deal with Typenex increases Akers's potential distribution network. "Typenex will be implementing a sales strategy for these flagship tests which highlights not only the compelling cost-reduction case but also the wider substantial benefits of factoring timely diagnosis of HIT into hospital risk management protocol," Raymond Akers Jr., the company's Executive Chairman said. "By incorporating ABI's test into risk management protocol, the hospital pharmacy gains a drug management tool that helps it contain the use of expensive - and sometimes problematic - alternatives to Heparin to a much smaller, targeted patient population," he added. "By positioning ABI's rapid tests as a value creator, the company believes that uptake of these PIFA Heparin products can be greatly enhanced."The news failed to impress investors early on, however, with the share price dropping 3.7% to 260p in the first few minutes of trade. NR