Connect with us

Hi, what are you looking for?

Economy

Japanese firm produces COVID-19 test kits in PHL

Arkray Industry Inc., a subsidiary of the Japanese firm Arkray Inc., has expanded operations to manufacturing coronavirus disease 2019 (COVID-19) test kits after gaining approval from the Philippine Economic Zone Authority (PEZA) in September.

The company plans to increase its 500 employee workforce as it expands, the Board of Investments (BoI) said in a press release on Friday.

Priced at P1,600 each, the test kits have a 90-minute turnaround time for results. They have an accuracy rate of 90-98%.

“The kits however are currently produced only on a per order basis with the total production output depending on the demand of its clientele to maintain its accuracy considering its short shelf life,” BoI said.

The Reverse Transcription-Polymerase Reaction (RT-PCR) test kits (i-densy Pack Universal Reagent and SARS-CoV-2 Detection Primer Probe Set Reagent) are being produced in the firm’s Batangas facility.

The company is also considering assembling Reverse Transcription-Polymerase Reaction (RT-PCR) testing machines.

“Arkray’s recent business activity also reaffirms our competence to host activities in the production of critical medical products and devices in the country,” BoI Managing Head Ceferino S. Rodolfo said.

“Even during the height of the pandemic, the Philippines did not impose any export restriction of these products but rather helped capacitate the manufacturing firms to enable them to support both domestic and foreign demand.”

The government last week announced a price cap for RT-PCR tests. Private testing facilities can charge P4,500 to P5,000, while public testing centers can charge P3,800 per test. — Jenina P. Ibañez

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

GROSS BORROWINGS by the National Government had reached P2.75 trillion as of end-October as it continued to raise money for its pandemic response, preliminary...

Economy

By Luz Wendy T. Noble, Reporter THE PHILIPPINE Statistics Authority (PSA) said the base year for the consumer price index (CPI) will change to...

Economy

SOME INDIAN COMPANIES, including those from the pharmaceutical industry, are interested in investing in economic zones in the Philippines, according to an India Business...

Economy

By Keren Concepcion G. Valmonte, Reporter HOSPITALITY GROUPS expect a rebound in tourism as coronavirus disease 2019 (COVID-19) vaccination rates continue to improve and...

Economy

BUSINESSWORLD’s Luz Wendy T. Noble was recognized as the Best Reporter of the Year for Banking at the 30th annual awards of the Economic...

Economy

THE Securities and Exchange Commission (SEC) has flagged eight more entities in separate advisories for their unregistered investment solicitation programs. These offerings are PH...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.