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LONDON (Alliance News) - BATM Advanced Communications Ltd on Monday said its diagnostics subsidiary has been awarded a licence by the China Food and Drug Administration for the import, marketing and sale of its hepatitis C diagnostic kit in China.
Initially, BATM will be targeting hospitals in the Shanghai province and it expects the first units to be shipped in the second half of this year. After this, it intends to roll out the product into other Chinese provinces.
"We are delighted to have been granted this licence - our most significant in China to date. China is the world's largest market for hepatitis C diagnostics and we believe that this approval will pave the way for the granting of licences for several more reagents that we have submitted for approval," said BATM Chief Executive Officer Zvi Marom.
Shares in the company rose 2.8% to 15.167 pence on the news, one of the best performers in the FTSE All-Share index.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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