SD Biosensor Successfully Finishes JP Morgan Healthcare Conference
- Entering the US market in earnest by acquiring Meridian
- Expanding into a direct sales system in 10 countries within the year
- Launching plans, including the new product, ‘STANDARD M10 FAST RT-PCR, CGMS’
SEOUL, South Korea, Jan. 13, 2023 /PRNewswire/ -- SD Biosensor, Inc. (KQ137310), South Korea’s global in-vitro diagnostics company, successfully wrapped up its debut at the JP Morgan Healthcare Conference, the largest event in the pharmaceutical and bio-industry, on January 10 (local time), where they presented their corporate vision and holding one-on-one meetings.
Entering the US market in earnest by acquiring Meridian
SD Biosensor was officially invited to the JP Morgan Healthcare Conference and presented in the APAC & LaTam section on January 10 (local time).
During the presentation, Chief Operating Officer Serena Cho of SD Biosensor took the podium and announced the company’s ambition to “compete with global in-vitro diagnostics companies by entering the US market and through additional M&A.” Meridian Bioscience Inc. (“Meridian”), which SD Biosensor decided to acquire last year, is mainly engaged in LS (Life Science) and DX (Diagnostics) businesses. The LS section has extensive know-how for the production and supply of PCR, enzymes, antigens, antibodies, and pharmaceutical raw materials. Using SD Biosensor’s diagnostic platform research and development capabilities, it will be operated independently in the United States from raw material development to production. The DX section has secured a high market share in the US market for GI (Gastrointestinal) panels and lead poisoning diagnosis products, which will be added to the SD Biosensor product portfolio to strengthen its diagnosis platform.
In addition, COO Serena Cho said, “By combining the main bases, production plants, and distribution networks of the two companies, we will be able to cover the global market, including the United States. We expect synergy effects from it.”
COO Serena Cho said, “The purpose of acquiring Meridian is to quickly enter the US market by utilizing local production and distribution networks and accelerating FDA registration,” while adding, “We plan to build an automated facility in the US to respond to local demands,” explaining the detailed plans for entering the US market.
Expanding into a direct sales system in 10 countries within the year
Regarding M&As that recently became a hot topic for SD Biosensor, COO Serena Cho commented, “We will propel strategic M&A to expand our global distribution network, and we will expand our direct sales system to at least ten countries within the year.” SD Biosensor has been searching for companies that can create synergies in business since 2021. As a result, it acquired ‘ECO’ of Brazil, ‘Bestbion’ of Germany, and ‘Relab’ of Italy in turn, establishing a direct sales system. SD Biosensor is in the final stage before closing the deal to acquire Meridian based in the USA. It will mainly consider companies that can expand the scope of R&D or overseas diagnostics distributors for future M&A.
Launching plans including the new product, ‘STANDARD M10 FAST RT-PCR, CGMS’
SD Biosensor also announced a new product and specific plans to gain a 15% market share by launching ‘STANDARD M10 FAST RT-PCR,’ which reduces the test time by 50% while maintaining the accuracy of RT-PCR within this year.
“We plan to launch the continuous glucose monitoring system (CGMS) in 2024, starting in Korea, followed by South America, Europe, and the United States. We will also release the all-in-one CGMS as part of SD Biosensor’s next-generation total diabetes solution system soon. Users will be able to measure not only glucose but also ketone, oxygen saturation, and lactase information at once,” said COO Serena Cho, adding, “It will also have an AI-based insulin pumping function that puts together CGMS data and supplies insulin automatically.”
Meanwhile, SD Biosensor successfully completed its debut at the JP Morgan Healthcare Conference, holding one-on-one meetings with many investors on business development and investment during the conference. SD Biosensor achieved the first place in the Korean pharmaceutical and bio-industry in terms of sales and operating profits in 2020 and 2021.
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SOURCE SD Biosensor