• Thursday, July 18, 2024
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Firm unveils IVD factory, blood glucose meter in Lagos

Firm unveils IVD factory, blood glucose meter in Lagos

Colexa Biosensor Limited, a subsidiary of Codix Pharma Limited, has unveiled a new product called ‘OnPoint Blood Glucose Meter & Strips’ in a bid to provide better health expectancy.

The company also commissioned its In-Vitro Diagnostics (IVD) factory in Lagos.

The flagship product addresses the prevalence of diabetes in Africa by manufacturing blood glucose meters and strips for millions of people living with the disease, according to a statement by the company last month.

“With an installed capacity of 3.6 million packs and an opportunity to scale up to 10.8 million packs annually, the company is poised to meet local demand and export, starting with its subsidiaries across West Africa, with the added advantage of reducing the need for foreign exchange in procuring raw materials,” the statement said.

Sammy Ogunjimi, executive chairman of Colexa Biosensor Limited, said in the statement that with the firm’s focus on Africa and with Nigeria as its base, it aims to extend its solution throughout Africa and the world.

“We will contribute our efforts to correcting the deficit in the balance of trade and to raising the volume of exports to improve the foreign exchange situation.

“We aim to localize and backward integrate to reduce our dependence on imports and this factory is the first step towards achieving that goal,” he added.

The company revealed that it has received a successful independent comparative evaluation of OnPoint BGM with the market gold standard through the Medical Laboratory Science Council of Nigeria (MLSCN).

“Colexa Biosensor Limited will provide direct employment for over 700 staff and several more indirectly”.