Us Approval For Disease Test Kit Expected To Boost Panbio's Fortunes
The Age
Thursday July 10, 2003
The first outbreak of West Nile virus in the United States this year has sparked renewed interest in Brisbane-based Panbio, which said yesterday it had just received approval to sell a test kit for the disease.
Panbio said the US Food and Drug Administration had given clearance for its West Nile virus diagnostic kit. This could be worth $1.5-$2 million in additional sales over the next year and allow the company to become profitable this financial year.
Chief executive Jim Porter said the advantage of the test kit was that it would provide results faster than previous methods.
``FDA clearance of the new diagnostic kit is important because it will broaden the base of testing, allowing clinical laboratories across the country to test for the disease," Mr Porter said.
Panbio's announcement coincided with reports on Tuesday night that the northern summer's first case of the disease had been identified in the US, in a South Carolina man. The disease was first detected in the US in 1999, but has since become a serious health threat with 4100 cases there last year, including 284 related deaths.
The disease is spread by mosquitoes, raising concerns that hot, dry weather this northern summer will result in a more serious outbreak than last year.
Mr Porter explained that 500,000 Americans received tests for the disease last year, but they had to be carried out in a limited number of large laboratories.
Panbio shares closed unchanged at 80 yesterday with 120,000 changing hands.
© 2003 The Age
