Profit surge expected for Universal Biosensors
Shares in Universal Biosensors are not far off last month’s record high of $1.98 after the company said it had shipped its first commercial order of blood glucose strips and received a milestone payment of $16 million from its partner LifeScan.
Shares in Universal Biosensors are not far off last month’s record high of $1.98 after the developer of in-vitro diagnostic test devices said it had shipped its first commercial order of blood glucose strips and received a milestone payment of $16 million from its partner LifeScan.
The sale of the blood glucose strips is a key revenue driver for the company, which will receive a service fee of 1¢ a strip, regardless of who makes it.
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