Source: Biohit Oyj

Biohit Oyj’s comments on its Chinese distributor’s announcement

Biohit Oyj company release 5.1.2018 klo 14:30 local time (EEST)

Biohit Oyj does not normally comment on its distributors or other third parties announcements, but due to details presented in the media and the potential effects this may have on the company’s share price Biohit Oyj gives out the following statement:

Biohit Oyj’s distributor, a wholly Chinese owned Biohit HealthCare (Hefei) Co. Ltd has announced that it will expand its GastroPanel production capacity and that it will bring GastroPanel onto new technology platforms and instruments. The announced investment to increase the production capacity is substantial, approximately 38.4 million euros. As a result of the investment, the production capacity can be increased to produce 75 million tests yearly. Biohit Oyj will supply the needed raw materials and receives net sales based royalty payments in accordance with the distribution agreement existing between the parties. At this moment, Biohit Oyj cannot estimate the impact of the investment on Biohit Oyj’s later results.

Additional information:
CEO Semi Korpela, Biohit Oyj
tel. +358 9 773 861

Biohit in brief

Biohit Oyj is a globally operating Finnish biotechnology company. Biohit mission is “Innovating for Health” – we produce innovative products and services to promote research and early diagnosis. Biohit is headquartered in Helsinki, Finland, and has subsidiaries in Italy and the UK. Biohit Series B share (BIOBV) is quoted on NASDAQ OMX Helsinki in the Small cap/Healthcare group.