RE: phase 2 from 16th March?15 Mar 2021 15:22
300 PCR tests for a minimum value of £150 million.
700 additional PCR tests would fetch £350 million.
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This first phase of the contract will involve the immediate deployment of 300 PCR instruments,related kits and support services with a minimum value of £150millionfor the first 14 weeks. Based on this initial period, a further £100 million of revenue could be expected for the subsequent 10 weeks,however volumes can be varied up or down subject to certain notice criteria given by the DHSC.
The second phase of the contract, which is optional by the DHSC, allows for the provision of up to 700 additional PCR instruments, related kits and support services, as well as additional COVID-19 products from the Company’s portfolio where required. Depending upon the uptake,phase two of the contract could generate considerably more sales than the first phase. The intended use of the contract is for Novacyt to support the urgent requirement for COVID-19testing of patients in the NHS. In addition to the provision of products, the Company will also provide training and maintenance services for the q16 and q32 instrument platforms.Novacyt has the capacity to meet the demand of both phases of this new contract,as well as to continue to build its sales across international markets.