Shares of Nemaura Medical (NMRD) announced that it has received a 200,000 order for it’s sugarBEAT sensors. This caused a buying frenzy for NMRD stock and has rose as high as 63% on the news.
Based on the success of the soft launch in the U.K., the Company is advancing discussions for joint launches in Germany, Saudi Arabia and UAE.
The company proudly announces a purchase order for 5,000 sugarBEAT transmitters and 200,000 sugarBEAT sensors from its U.K. licensee, DB Ethitronix Ltd, with an additional rolling monthly purchase order forecast for the next 24 months of 15,000 transmitters and 2.1 million sensors, with an option to increase volumes based on customer response.
In preparation for the worldwide commercialization of SugarBEAT® the Company expects to:
- Commence delivery of the sugarBEAT® transmitters and sensors to our U.K. licensee
- Establish distribution channels in additional European territories, the U.S., and the Middle East
- Enhance production capabilities through key partnerships
- Focus on building a world-class sales and marketing team and strategy
I also recommend checking out Senseonics (SENS), another revolutionary glucose monitoring device company.