Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Two UK COVID test makers pull devices due to new review

Published 02/11/2021, 09:23
Updated 02/11/2021, 09:25
© Reuters. FILE PHOTO: Health workers and volunteers handle lateral flow test samples and record results as students take coronavirus disease (COVID-19) tests at Harris Academy Beckenham, March 5, 2021. REUTERS/Toby Melville

LONDON (Reuters) - Two producers of COVID-19 tests in Britain said on Tuesday they had pulled some of their tests from the market after a new review system came into force, which has not yet granted approval for their previously accepted products.

Avacta said under the new system suppliers of COVID-19 tests had to submit information regarding their products for desktop review if they wished to remain on sale in Britain. It said it had submitted its information ahead of the Sept. 1 deadline and was still waiting for a response.

As a result it has suspended further sales of its AffiDX SARS-CoV-2 Lateral Flow Rapid Antigen Test in the UK. Its shares were trading down 8% in early morning deals on Tuesday.

France-based Novacyt said it had submitted 11 products for review before the deadline. Two have appeared on a temporary UK list that can continue to be sold, but it is waiting for an update on the additional nine products.

Its shares fell 3%.

Avacta said the new review system was "over and above" the European Union's CE health and safety mark and the successful registration with the UK's health regulator which it had previously achieved. No one at the UK Health Security Agency was immediately available to comment.

The two companies said only three products had been fully approved while a temporary list allows 48 tests, both PCR and antigen based, to remain on sale.

Britain is carrying out higher levels of testing than many other countries in Europe, and is currently seeing around 40,000 cases of COVID-19 a day.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.