York, U.K. 20th March 2024: Abingdon Health plc (AIM: ABDX), a leading international lateral flow Contract Development and Manufacturing Organisation (CDMO), announces the launch of Boots' own-brand, rapid self-tests across the UK and online in partnership with Crest Medical.
In a significant step forward in strengthening its position in the consumer lateral flow self-test market, Abingdon Health is launching the first two products - Iron and Vitamin D deficiency self-tests - in this Boots own-brand range, with the self-tests being made available in stores and online at Boots.com from Spring 2024. These products will sit within the Boots family of branded products which will increase consumer confidence in the continued adoption of at-home testing.
As a CRO/CDMO of lateral flow tests, Abingdon Health is uniquely positioned to offer Original Equipment Manufacturer (OEM) self-tests under its own brand families to partners throughout the UK and Europe as a value-add Private Label Supplier (PLS). The global lateral flow assay market size is expected to reach USD $23 billion by 20271 and with consumer adoption of self-tests on the rise (US $7.89 billion in 2023)2, this has coincided with retailers looking to offer these products under their own brands to improve their consumer offering.
Chris Yates, CEO of Abingdon Health plc, commented: "We are delighted to announce the launch of the Boots own-brand Iron and Vitamin D deficiency self-tests in conjunction with our partner Crest Medical. As lateral flow experts we're proud to offer a comprehensive private label service to retailers covering a broad range of self-tests, including innovative exclusive products from Abingdon's CDMO customers. We take immense pride in the quality of our service and ensure a seamless supply of innovative lateral flow self-tests to ensure our partners requirements are met."
Matthew Courtney, CEO of Crest Medical Ltd, commented: "Diagnostic tests are another great addition to the Crest Medical portfolio as we look to expand further and deepen our partnership with Boots. Abingdon Health are at the forefront of this expansion and we are thrilled to be partnering with a company who are leaders in lateral flow diagnostics."
Sources:
1. 1. Lateral Flow Assays Market worth $22.6 billion | MarketsandMarkets | ABNewswire
2. Self-testing Market Share, Growth, Demand, Forecast to 2033 (futuremarketinsights.com)
Enquiries
Abingdon Health plc: [email protected]
www.abingdonhealth.com/investors/
Chris Yates, Chief Executive Officer
Chris Hand, Non-Executive Chairman
Singer Capital Markets (Sole Broker and Nominated Adviser) Tel: +44 (0)20 7496 3000
Peter Steel, Alex Bond (Corporate Finance)
Tom Salvesen (Corporate Broking)
