The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Think that means they are marked down in according to the U.K. tender criteria
I am completely convinced Avacta will take part in this procurement. However and this may sound slightly far fetched but will any of the established names actually take part. Abbot, Innova and the other current players may decide that £6 per test is less than they will get elsewhere and reserve their no doubt limited supply for other buyers. Equally they may decide they will not be in a position to meet the S&S requirements. Its also puzzling that price is pretty much the single criterion used - rather than S&S.
Agree - so the only question remaining is whether there are any other tests out there that have been engineered to use this standard kit
Exquisite rather than quite good Robotics
But I always wonder about the timing of meaningless updates like this. What if it was timed just before the big Boris boast of mass testing this afternoon to ensure promises made to update the market were kept. The directors interview talks about clinical test locations already having been lined up - sounds like there has been some government assistance there. The avacta pilot of BAMS in 4 locations is almost immediately followed by a procurement for a U.K. pilot study. Perhaps we are on the cusp of Boris showing his hand with regard to the U.K. manufactured supply. Or perhaps this is just more wishful thinking.
That’s my reading Spike. It sounds like BBI had to redesign from the ground up. At least we may be almost there now.
On the positive side, this RNS has not formally revised previously stated timescales. Will be interesting to listen out for any U.K. manufactured references by Boris!
https://www.economist.com/science-and-technology/2020/11/14/fast-tests-for-covid-19-are-coming
Behind a paywall - makes the case for home tests, ideally using saliva
Not sure whether this was posted previously but in this interview John Bell explicitly explains why saliva tests didn’t work very well and that the six tests they selected so far are all swab based. Doesn’t sound good at all and even if our test has simply not yet been reviewed, you wonder why he goes on to say that they are working with the regulators to see if they can certify the swabbed tests for home use.
https://www.bbc.co.uk/sounds/play/p08y1k2j
From 17:30 onwards
And in the same programme an hour earlier, the director of public health in Liverpool confirmed that the pilot would NOT use saliva tests - just back of the throat or nose swabs.....
Wording on the freight order would suggest the kit in Liverpool is only an initial range of kit to be replaced by domestically produced kit:
Successful validation of an initial range of newly developed Covid-19 lateral flow test kits was completed by the DHSC in September, allowing for orders to be placed to secure a sustainable supply of significant volumes of these products, as a fundamental enabler of the expansion of the testing programme. The supply of these new test kits is currently limited in the face of very high global demand and consequently it was necessary to contract for supply on an ex-works basis for product manufactured in China in order to secure the required quantity of product and prevent gazumping.
Antibody test
Very good point I think, given the projected numbers the objective no doubt is to achieve max automation. Just hope they haven’t bitten off more than they can chew.
Perhaps the most significant part of that sun article is the clear suggestion that the tests will cost five pounds. Wonder what that will do to our profit margin. Myles assumed ten pounds and 30% profit but assuming fairly fixed costs for manufacturing the kit, we could now be talking 1 pound profit per test.... Still not bad if we hit the numbers quickly.
Back to the issue though - does anyone have any idea why this was an intra day rns?
Can’t stop wondering why this rns was released during the trading day. Was there a last minute panic to get it out before tomorrow mornings rns?