Trinity Biotech plc announced on December 18, 2024, that it received earlier than expected approval from the World Health Organization (WHO) to permit the later-stage manufacturing process of both TrinScreen HIV and Uni-Gold HIV at its outsourced provider. This approval is a key prerequisite in the manufacturing transfer, which is a core component of the company's Comprehensive Transformation Plan. The move is expected to enhance future growth and improve margins.
The company anticipates beginning manufacturing its rapid HIV tests at the new offshore location in Q1 2025. This strategic shift is designed to leverage lower-cost manufacturing, contributing to increased operational efficiency and shareholder value. The early approval demonstrates the strong execution of the company's team in collaborating with global regulatory authorities.
CEO John Gillard highlighted that this achievement represents a significant milestone for Trinity Biotech. The transfer of manufacturing processes to an offshore partner is a key initiative aimed at streamlining operations and reducing costs, aligning with the company's broader strategy for financial resurgence.
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