Analysts predict the partial acquisition is a stepping stone for the company to venture into the diagnostic space at a later stage.
The proposed investment in Mylab will help the company to participate in growing diagnostics space which is expected to witness increased penetration through in-clinic solutions with Point of Care Testing devices, said Zydus Lifesciences.
The country has the biggest burden of tuberculosis cases and deaths in the world and the new technology may help in the quick detection of cases in the early stages of the disease.
From testing to treatment, Pune-based Mylab believes the time has come to adopt an integrated approach and deliver products needed from the patient’s perspective. MD Hasmukh Rawal lays out the company’s plans.
CoviSwift can be used at small labs, in-hospital labs, airports, villages and allow gold standard testing at high throughputs anywhere, the company has said
He was speaking during the launch of 'Compact XL, a compact diagnostics machine by MyLab Discovery Solutions, which will automate lab processes from sample handling to preparing RT-PCR tubes
The machine will be available for pre-ordering starting July 13, the company added.
Until now, Mylab has already manufactured testing kits for conducting 6.5 lakh tests and has supplied them to 140 sites, including labs and hospitals in over 20 states, Mylab said in a statement.