Trinity Biotech Expands TrinScreen HIV Orders and Revenue Outlook
Trinity Biotech Announces Increased Orders for TrinScreen HIV
Dublin, Ireland — Trinity Biotech plc (Nasdaq: TRIB), a commercial-stage biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, has announced substantial additional orders for TrinScreen HIV. Due to this strong demand and the successful scaling of production capacity, the company is increasing its expected 2024 sales revenue for TrinScreen HIV to approximately $10 million, up from the previous estimate of $8 million.
Demand for TrinScreen HIV
John Gillard, President and Chief Executive Officer of Trinity Biotech, emphasized the company’s commitment to meeting the growing market needs. He stated, “Trinity has had a long history of supplying its rapid HIV tests to markets with the greatest need, and we are pleased to have scaled up our manufacturing capacity to meet the increased demand for TrinScreen HIV.” This expansion not only reflects the company's efforts to adapt to market changes but also highlights its ongoing engagement in infectious disease diagnostics.
Manufacturing Capacity Enhancement
In addition to fulfilling orders for TrinScreen HIV, Trinity Biotech is also increasing its manufacturing capacity for its FDA 510(k) cleared viral transport medium, FlexTrans. This decision was made in anticipation of potential increased demand stemming from the World Health Organization's declaration of a Public Health Emergency of International Concern for Mpox. Gillard stated that the company remains committed to finding opportunities to contribute to diagnostic testing for urgent global health threats.
About Trinity Biotech
Trinity Biotech is dedicated to developing, acquiring, manufacturing, and marketing diagnostic systems, including reagents and instruments for point-of-care and clinical laboratory segments. The company has recently expanded its portfolio by entering the wearable biosensor industry, having acquired the biosensor assets of Waveform Technologies Inc., and intends to develop a range of biosensor devices starting with a continuous glucose monitoring product.
Product Development and Global Reach
The company’s products play a critical role in detecting infectious diseases and quantifying Haemoglobin A1c and various chemistry parameters in blood samples. Trinity Biotech serves customers directly in the United States while maintaining a robust network of international distributors and strategic partners across more than 75 countries worldwide. The unwavering focus on innovation and market expansion underlines the commitment of Trinity Biotech to enhancing healthcare diagnostics.
Contact Information
For further details, inquiries can be directed to:
Trinity Biotech plc
Micheal Roche
Phone: (353)-1-2769800
LifeSci Partners, LLC
Eric Ribner
Phone: (1)-646-751-4363
Email: investorrelations@trinitybiotech.com
RedChip Companies Inc.
Dave Gentry, CEO
Phone: (1)-407-644-4256
Email: TRIB@redchip.com
Frequently Asked Questions
What recent developments has Trinity Biotech announced?
Trinity Biotech announced increased orders for TrinScreen HIV and raised its sales guidance for 2024.
What is the new sales forecast for TrinScreen HIV in 2024?
The company is now projecting approximately $10 million in sales revenue for TrinScreen HIV in 2024.
How has Trinity Biotech responded to increased demand?
The company has scaled up its manufacturing capacity to meet the rising demand for its HIV tests and other diagnostic products.
What other products is Trinity Biotech focusing on?
In addition to TrinScreen HIV, Trinity Biotech is enhancing its production capacity for FlexTrans, a viral transport medium, in light of global health concerns.
In which sectors does Trinity Biotech operate?
Trinity Biotech operates in human diagnostics and diabetes management, providing solutions like wearable biosensors and diagnostic systems.
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