Chembio Diagnostics to sell rapid tests in Caribbean
A Chembio Dignostics lab in Medford on Feb. 19, 2014. Credit: Heather Walsh
Chembio Diagnostics Inc. on Thursday announced an agreement to sell its rapid tests for HIV, syphilis and the Zika virus in the Caribbean.
The Medford-based manufacturer of point-of-care tests said its products would be sold exclusively by distributor Isla Lab Caribbean in 25 countries and territories, excluding Puerto Rico and the U.S. Virgin Islands.
The agreement also includes future Chembio tests — which are pending regulatory approval or are in development — for chikungunya, dengue and several that cover multiple diseases in a single test.
“We are thrilled to expand the availability of our products through this exclusive distribution agreement with Isla Lab Caribbean, the largest diagnostics distributor in the Caribbean,” Chembio CEO John J. Sperzel said Thursday in a statement. “Many of the tests we are developing on our patented DPP technology are for the detection of viruses that are endemic in the Caribbean region, such as dengue, chikungunya and the Zika virus.”
The company’s stock rose 30 cents Thursday, or 5.6 percent, to close at $5.70 on the Nasdaq Stock Market. The shares are up about 21 percent in the past 12 months.
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