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Genedrive Shares Rise On Successful Tender for Framework Contract

Sam Boughedda
Sam Boughedda trader
Updated 19 Apr 2021

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Genedrive (LON: GDR) said it has been successful with its tender into Public Health England (PHE) under Lot 1 of the National Microbiology Framework.

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The PHE tender sought to appoint suppliers to a multi-lot national microbiology framework agreement relating to the supply of Diagnostics Goods and Services and covering Clinical Laboratory Diagnostic Testing Services.

The AIM-listed company said the framework contract is not exclusive to them or a guarantee of orders, but it allows participating authorities to issue call-off orders for products in the future.

Genedrive said all of its CE marked products fall within the framework agreement.

David Budd, CEO of genedrive, said: “We are very pleased to have received notice of this contract award decision and look forward to the opportunity to engage with PHE and relevant authorities on future potential contracts. This is an early notification of the decision and we will update shareholders when we have more information on what this contract may mean for orders and revenues”.

Genedrive’s share price is trading over 8.7% higher following the news, at 72.9p.

Should you invest in Genedrive shares?

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Sam Boughedda
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.