Trinity Biotech Reports Increased Orders for TrinScreen HIV
Dublin, Ireland — Trinity Biotech plc (Nasdaq: TRIB), a biotechnology company focused on human diagnostics and diabetes management solutions, including wearable biosensors, has announced a significant rise in orders for TrinScreen HIV. Due to this heightened demand and successful production scaling, the company has raised its anticipated sales revenue for TrinScreen HIV in 2024 to about $10 million, up from the earlier estimate of $8 million.
Growing Demand for TrinScreen HIV
John Gillard, President and Chief Executive Officer of Trinity Biotech, highlighted the company's dedication to addressing the increasing market needs. He remarked, “Trinity has a long-standing history of providing rapid HIV tests to areas with the most urgent needs, and we are pleased to have expanded our manufacturing capacity to meet the surging demand for TrinScreen HIV.” This expansion not only showcases the company's adaptability to market changes but also underscores its ongoing commitment to infectious disease diagnostics.
Enhancements in Manufacturing Capacity
Alongside fulfilling orders for TrinScreen HIV, Trinity Biotech is also boosting its manufacturing capacity for its FDA 510(k) cleared viral transport medium, FlexTrans. This decision comes in anticipation of a potential increase in demand following the World Health Organization's declaration of a Public Health Emergency of International Concern for Mpox. Gillard emphasized that the company is dedicated to exploring opportunities to contribute to diagnostic testing for urgent global health challenges.
About Trinity Biotech
Trinity Biotech is committed to developing, acquiring, manufacturing, and marketing diagnostic systems, including reagents and instruments for both point-of-care and clinical laboratory applications. Recently, the company has broadened its portfolio by entering the wearable biosensor market through the acquisition of biosensor assets from Waveform Technologies Inc. They plan to develop a variety of biosensor devices, starting with a continuous glucose monitoring product.
Product Development and Global Presence
The products offered by Trinity Biotech are vital for detecting infectious diseases and measuring Haemoglobin A1c levels, along with various chemistry parameters in blood samples. The company directly serves customers in the United States while maintaining a strong network of international distributors and strategic partners across over 75 countries worldwide. This unwavering focus on innovation and market expansion reflects Trinity Biotech's commitment to enhancing healthcare diagnostics.
Contact Information
For more information or inquiries, please reach out 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 has reported increased orders for TrinScreen HIV and updated its sales forecast for 2024.
What is the new sales forecast for TrinScreen HIV in 2024?
The company now expects approximately $10 million in sales revenue for TrinScreen HIV in 2024.
How has Trinity Biotech responded to increased demand?
The company has expanded its manufacturing capacity to meet the growing 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 also increasing its production capacity for FlexTrans, a viral transport medium, in response to global health concerns.
In which sectors does Trinity Biotech operate?
Trinity Biotech operates in the fields of human diagnostics and diabetes management, offering solutions such as wearable biosensors and diagnostic systems.
