Member Info for RegulatorUK

The average length of a pandemic in modern times is 4 years. We're not even half way through that and dealing with a virus that is more transmissible that pervious pandemics.

Our misfortune in the UK is to have a criminally incompetent and corrupt government, led by sociopath with a short attention span.

We're in a lull at the moment, with the media's attention elsewhere. Come that latter part of the year, we'll be matching Israel if not overtaking it...

"My daughter went on a humanitarian trip to India, several years ago, so fully aware of bureaucratic India,"

Oh - well you're clearly an expert then. Those of us who have lived in India and worked in the healthcare system there should prostrate ourselves before you...

"It’s an acknowledgement otherwise same RNS as on 24th June isn’t it?"

Yep. The RNS on 24 June was the regulatory announcement. This morning's announcement is non-regulatory - a fluff piece.

We might get a little bit of blue, as some PIs miss the distinction between the two and buy thinking this is going to sky rocket...

Oh - and this is an Reach announcement (so non-regulatory). A bit of fluff and nothing more...

"...but what a poor reflection on our own bureaucratic health care system that the same virus killing Pro Lava mask is not fully utilized in the UK."

If you think the health system in the UK is bureaucratic, you clearly have no idea about the healthcare system in India.

This was stuff that's been around for months - it's just they haven't been able to have a formal launch in India due to Covid.

The questions are:
- will this lead to any sales (I'd say minimal given the cost point)?
- where will the masks be made?

We also don't want something that's "as good as PCR"... because PCR isn't that good.

You need a test that is appropriate task it is being used for. Using something that is basically a further development of PCR principles at an airport will potentially cause chaos with false positives, whereas our test won't.

"So assume as an example ‘ no fault ‘ termination by DHSC there is a case for a claim by Omega, it’s not de minimis, it would be accumulation of staff , establishment costs for many months, potentially a relative substantial sum of money."

Yes and no. There can be a compensatory element - a maximum of 50% of the Estimated First Quarter Charges (see 6.4 Schedule 3) as well as reasonable costs (see 6.1 of Schedule 3). However, DHSC is not responsible for staff costs - other than for very specific costs (see 6.6 of Schedule 3).

"Point being ... we know the DHSC have loaned £17M of kit to Omega, some just a few weeks ago?
Would they have continued to invest if they were planning to terminate?

You take your own view on that one , sell if you think it’s the case ? Hold if you think it’s highly unlikely the contract is going to be terminated based on information known."

As I have said, I don't think it is likely at all... but then again, given how DHSC has behaved in recent months and with other suppliers you can never says never.

As for selling up, don't be daft - I'm in this for the long term, regardless of the DHSC contract.

"Regulator

Would they still have to pay out the £50M minimum ?"

There is no guaranteed minimum in the Contract*.

For a default termination, ODX could be liable for additional costs arising from the procurement of a new provider (13.4.1). For a no fault, DHSC would be required to pay for costs to date (using an open book approach) plus any reasonable termination costs.

However, this is all unlikely anyway...

*The letter of Intent is not included in the Contract and the financials are redacted. But there is no 'minimum payment' clause within the body of the Contract itself.

"Why would they cancel the contract if they have been loaning equipment to manufacture the tests?"

I'm not saying they will - although we can't guarantee anything (given that this is primarily politically driven and the DHSC procurement function is fairly crap).

"ODX on phase 2 of the contact worth 347 millions and there is waiting for delivery test kits. If GOV want to cancel the contact they must note at least 0ne month in advance.

They're only required to give one month's notice for a no fault termination. DHSC can terminate with immediate effect if a termination event/default occurs (as laid out in 13.3.2).

"@Stock-share RNS has been promised by the end of this month which will include revenue figures.

It could explode on these numbers."

*Flicks through the Hilleberg catalogue*

But unfortunately no real news or rns to support or verify any COVID sales in Uk or abroad. Pity.

I wouldn't expect an RNS for sales unless it was something substantively material, or potentially related to matters already RNSed, such as confirmation of orders from DHSC/PHE against the £374m Contract.

We have had confirmation of Covid related sales in Q4 2020/21.

"it's for sale in Germany for example: (Mologic one)
https://www.bkr-online.com/en/"

Visitect is also on sale in the UK and getting orders.

"Too expensive for lab space in and around Oxbridge. Would welcome omega to the m62 corridor ;)"

Given the number of research parks around here (I can list more than a dozen within a 5 mile radius of where I am sitting) there's a price point to suit everyone...

...although some people might find it a tad too expensive to park their burger van.

I wish we could but reality has this horrible habit of biting one on the arse...

Wait until schools and universities go back over the next few weeks across the UK...

"Come on Trev! Drop that juicy RNS packed full of 'news' and 'information' about the Paraytec developments to help send this into the stratosphere.... the clouds will do initially!"

Not until next week please...

"Regulator

I've got my antigen booked for Saturday, and have ordered day two test....
I think only unknowingly having covid, flight cancellations, or Doris and his mupets moving the go posts, what could possibly go wrong?"

My comment about "you'll be lucky" was in relation to the temperature here getting into the mid-20s... it's a bit chilly at the moment.

"Over 30 cars in the car park but the site not a big as I was expecting."

It's not big, is it? They still manage to pack a lab and some production facilities in the there.