RE: 250 staff9 Jul 2021 16:35
I agree with you, ODX is a steal at this price.
There’s a particularly interesting line from The DHSC in the HuffPost article published last night:
“We are planning to diversify the supply of LFDs and have started to procure through fair and transparent competition via our LFD Dynamic Purchasing System.”
Therefore it would look like its good news for ODX, ABDX and AVCT soon, as the inference is surely that UK co's will be part of the procurement process moving forward. The article states that The DHSC insisted British innovation was at the forefront of its response to the pandemic and partnerships with British firms would help it “to build back better by tapping into the UK’s domestic talent, ingenuity and industry”.
That currently would appear to be just hot air. We’ve not seen that investment announced in purchase orders / hard numbers - yet - but there could be an NDA in place so we might be being kept in the dark. The article however does concludes with this encouraging paragraph:
"The update did hint at the greater use of British-made tests to cope with more variants of the virus. 'As further new variants emerge, and with increased diversity of LFD product manufacturers planned for deployment in the future, the combination of routine in vitro and clinical post-market surveillance will remain a critical tool for rapid surveillance of device performance in a changing landscape'.
Hopefully, a nice big juicy purchase order is on its way from the DHSC. Don't forget that the 11 February Govt contract announcement, for ODX to provide manufacturing capacity for #COVID19 LFTs, was for £374 million. Even a tenth of that would see the share price soar
It is time for the UK Gov't to deliver on its commitment to the UK diagnostics sector and issue purchase orders to ODX.
Good luck, Brighty
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