Update: Allersys and core business on track
Development of the automated Allersys allergy test menu is progressing well, with 32 optimised assays (with 40 targeted for launch) and customer testing underway. A launch in FY16 is possible, but we are not forecasting revenues until FY17. Omega’s Visitect CD4 test to monitor HIV patients hit a development snag with its stability. The issue is reproducible so could be tracked down quickly, but the delay is unknown as yet. Visitect has rapid sales potential of up to £25m a year once validated. The share price should recover once the new timing is confirmed. FY15 results were as expected and cash remains strong for FY16.Omega Diagnostics Group is a holding company. Through its subsidiaries, Co. is engaged in the manufacturing, development and distribution of medical diagnostics products. Co. has three operating divisions: Allergy and autoimmune, which in the research, development, production and marketing of in-vitro allergy and autoimmune tests; Food intolerance, which provides clinical analysis to the general public, clinics and health professionals as well as supplying the consumer; and Infectious disease and Other, which comprise of research, development, production and marketing of kits to aid the diagnosis of infectious diseases.
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