With the continued call across the globe for increased COVID-19 testing, Aytu Bioscience Inc. (NASDAQ:AYTU) has announced an agreement with Apollo Med Innovations, Inc. The agreement focuses on the distribution of COVID-19 IgG/IgM Rapid Test Cassette to more than 1,000 practices and where Apollo’s network is spread out. This comes at a time when there has been a significant demand for testing kits and also at a time when many nations have taken on mass testing.
The distribution agreement will enhance Aytu’s protocols of offering comprehensive laboratory support services to medical clinics, wellness centers, and clinical laboratories. All this will provide a stretched out menu of testing. Additionally, Apollo will offer consultation services to disseminate the correct information required for COVID testing under safety guidelines and the use of the right products.
Aytu’s Position in Combating the Spread of COVID-19
“The company has been working on multiple fronts to distribute the initial shipment of COVID-19 IgG/IgM Rapid Tests while coordinating the incoming supply of our next shipment of 500,000 tests,’’ the CEO of Aytu BioScience clarified.
He adds that the manufacture has also endorsed an additional purchase order of one million tests, and this further explains the company’s drive-in combating the spread of COVID-19.
The company also acknowledges that in the wake of the rapid spread of the coronavirus, many families and their sick relatives are becoming helpless by the day. Hence, its primary focus has been doing the right thing to provide peace of mind to these individuals and their families. This will also roll over to essential workers and companies offering help to the victims of COVID-19.
Meanwhile, Aytu has been building a sturdy portfolio of its revenue-generating products and has taken control of building leading brands within large therapeutic markets. It has remained consistent in its strategy of commercializing novel products, which address specific and significant patient needs.
Recently Aytu acquired Innovus Pharmaceuticals, which has more than thirty-five consumer health products. They are all in the categories of men’s health, respiratory health, and sexual wellness all aimed at improving men’s and women’s health and vitality.