Lab Genomics will export 5.8 billion won ($4.8 million) worth of LabGun COVID-19 ExoFast RT-PCR Kit to India through Siemens Healthineers’s India branch.

Lab Genomics will export 5.8 billion won worth of its Covid-19 diagnostic kit to India. (Lab Genomics)

The deal accounts for 17.56 percent of the company's total sales last year, it said.

Under this accord, Lab Genomics will supply its LabGun COVID-19 ExoFast RT-PCR Kit, which can diagnose the new coronavirus within an hour of testing using real-time polymerase chain reaction method.

Lab Genomics obtained the U.S. Food and Drug Administration's Emergency Use Authorization (EUA) for the kit in April and won Europe’s Conformite Europeenne Mark-In Vitro Diagnostic (CE-IVD) certification later. The Ministry of Food and Drug Safety also granted EUA approval to the kit on June 24.

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