OraSure’s HIV Test Gets $20M Contract from Gates Foundation

OraSure’s HIV self-test supported by Gates Foundation for accelerated adoption

Stockwinners com Market Radar
Orasure receives $20 million order from Gates Foundation

OraSure entered a new agreement with the Bill & Melinda Gates Foundation that will enable OraSure to offer its OraQuick HIV Self-Test at an affordable price in 50 developing countries with funding from the Gates Foundation.

The funding will consist of support payments tied to the volume of product sold by OraSure and reimbursement of certain related costs.

Under a four-year Charitable Support Agreement, OraSure will make its OraQuick HIV Self-Test available for purchase in 50 developing countries located in Africa and Asia.

Funding from the Gates Foundation will enable non-governmental organizations in eligible countries that receive funding from government or public sector agencies and donors to access HIV self-testing at reduced pricing.

The funding from the Gates Foundation will be in an aggregate amount not to exceed $20M over the four-year term or $6M each year of the agreement. The OraQuick(R) HIV Self-Test is a rapid, point-of-care test that allows an individual to detect antibodies to both HIV-1 and HIV-2 with an oral swab, with results in 20 minutes.

To read stories similar to this, sign up for a free trial membership to Stockwinners; be sure to check the Market Radar section.

The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility.

Leave a Reply

Your email address will not be published.

Translate »