It makes you wonder doesn't it!9 Feb 2021 09:23
AIM-listed biotechnology group Omega Diagnostics is one of three British firms that has been picked to rapidly scale up production of lateral flow Covid tests
But the Government has doubled down on its commitment to them and they are seen by some as a key tool in getting Britons back into offices, as workers could be regularly screened.
The lateral flow tests are particularly helpful because they do not need to be sent off to a laboratory and can provide a result in 30 minutes.
Ministers hope Omega and two other groups, Global Access Diagnostics and SureScreen, can together produce up to 2m of these tests per day for the UK, according to reports in the Financial Times. The move would reduce the UK's reliance on devices shipped in predominantly from the US and China.
Omega confirmed in an announcement to the stock market yesterday that it is modifying its Scottish plant to 'upscale significantly' its lateral flow test production. It said it will release a further update once any contracts have been signed.
Omega Diagnostics was among a clutch of rapid responders to the Covid pandemic and saw its shares surge in value by more than 350 per cent last year.
Its value soared by another 32.4 per cent, or 22.5p, to 92p yesterday as shareholders crossed their fingers that the rumoured deal will get over the line.