OSang Healthcare, a company specializing in in vitro diagnostic medical devices, announced on the 15th that its consolidated sales for the first quarter of this year increased by 55% year-on-year to 32.1 billion won. During the same period, operating profit and net profit turned to black, recording 4.1 billion won and 3.9 billion won, respectively.
The company's performance improved as it began supplying a combo diagnostic kit that simultaneously tests for COVID-19 and influenza A and B to the U.S. market. Osang Healthcare received formal approval (510K) for the product from the U.S. Food and Drug Administration (FDA) in January. The company began supplying the product starting in the first quarter after signing an exclusive supply agreement with a global medical device company. To date, only three companies have successfully obtained FDA formal approval for this product, with OSang Healthcare being the only domestic company among them.