Somnics, Inc. today announced that its consolidated revenue for June 2021 reached NT$11.736 million, benefiting from record sales of the imported Lucira Check It COVID-19 Test Kit. It led to an annual increase of 2,156.9% in revenue in June, a record high over the same period last year as well as setting a new revenue high for a single month.
In early June, Taiwan Food and Drug Administration (TFDA) approved the project of importing at-home rapid test products, and Somnics was one of the earliest manufacturers to receive approval. Somnics subsequently introduced the Lucira™ Check It COVID-19 Test Kit, which is the first PCR-quality single-use molecular test kit for COVID-19 available in the Taiwanese market. In order to accelerate the capacity of epidemic prevention and screening for communities and enterprises, Somnics has not only provided a compelling solution through the introduction of Lucira™ to more than ten enterprises but also put the product on the shelves of selected pharmacy chains and retail channels since July 1.
According to Somnics, although the domestic epidemic situation is gradually improving and restrictions are being "partially lifted", in the next chapter against corona virus epidemic, the need for using rapid test with higher accuracy to ensure business activities can operate safely just increased rather than decreased. The company is confident that Lucira™ will continue to drive sales growth as it continues to ship orders from enterprise clients as well as respond to frequent inquiries from channel partners.
During the process of introducing COVID-19 molecular test products to Taiwan, Lucira Health, Inc. (Nasdaq: LHDX), the provider of Lucira™, recognized Somnics’ professional medical material service capabilities and the company became the first entity to obtain the overseas distributorship of Lucira™. Somnics, Inc. has officially signed a distribution agreement with Lucira Health as an exclusive distribution agent in Taiwan. In addition, new progress of iNAP® Sleep Therapy System in the U.S., South Korea and German markets in the third quarter is expected to further boost the revenue performance of Somnics in the second half of 2021.