genedrive PLC (LON:GDR) shares surged on Friday after the diagnostics firm confirmed it has received a licence to import its COVID-19 testing kit into India through its partner DIVOC Health.
The AIM-listed firm said the licence follows approval of the product by the Indian Centre for Medical Research on April 30.
genedrive added that India has introduced pricing controls in its routine public testing market that favours the provision of lower cost/basic tests than its own kit. As a result, the firm said it is continuing to assess specific commercial opportunities with DIVOC Health in the Indian public and private markets.
The company’s shares were up 25.2% at 62p in mid-afternoon trading.