Boule sets up contract manufacturing of reagents in India
Boule Diagnostics has signed a strategic contract manufacturing agreement with Q-Line Biotech for local hematology reagent manufacturing in India. India is a large and important market with over 30 million tests per year conducted using Boule’s automated hematology systems. The decision to set up local reagent production in India is based on that it provides direct advantages in public procurement, shorter lead times for customers, and lower transportation expenses, which has risen sharply during the last two years as a consequence of the pandemic and a desired reduced environmental impact from transportation.
“We are very happy to partner with Q-Line Biotech. We have worked together for many years as they are a long-term distributor of our solutions in India, so we know each other very well. Q-Line has the technical expertise from already producing complex medical device products and are as focused on delivering high quality as we are. It is a company that is well-recognized and respected in India and I could not have wished for a more committed and loyal company to work with in this strategically important project,” says CEO and Group President, Jesper Söderqvist.
“We are excited to enter into this technology collaboration arrangements with Boule Diagnostics, Sweden, one of the pioneers and world leaders in hematology solutions. We are confident that this collaborative investment and synergy under Make-in-India initiative will allow us to advance our wider strategy to launch more sustainable and affordable diagnostic solutions in this growing, cost-competitive Indian market,” explains Saurabh Garg, Chairman Q-Line Biotech.
The 1,200 square meter manufacturing facility is based in Lucknow, the capital of the Uttar Pradesh state. The plan is to have the local manufacturing of reagents up and running in the third quarter of 2023.
For more information, please contact:
Jesper Söderqvist, CEO and Group President, Boule Diagnostics AB, phone +46 (0)70-689 05 90
Annette Colin, CFO, Boule Diagnostics AB, phone +46 (0)70-319 06 76
About Boule Diagnostics AB (publ)
Boule Diagnostics AB is a global diagnostics company that develops, manufactures and markets instruments and consumable products for blood diagnostics. The company serves hospitals, clinics, laboratories and companies within blood diagnostics, in both human and veterinary hematology. The company operates via subsidiaries in Sweden, the USA, Mexico and Russia. The company products are sold globally primarily through distributors, supported by Boule’s own local sales and support personnel. The Boule shares are listed on Nasdaq Stockholm since 2011. http://www.boule.com
The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on October 20, 2022.
Boule Diagnostics AB – Reagent manufacturing in India 20221020_ENG
