Akers Biosciences to launch new product in India

16th May 2014 08:05

AIM-listed healthcare equipment firm Akers Biosciences has entered into an agreement with medical devices market developer Jai Capital to launch the group's PIFA Heparin/Platele in India.The Nevada-based group will market the company's product to the Indian military, which is allowed to buy products without government approval, and is expected to occur later in the year. The firm also plans to market PIFA Heparin/Platele to potential Indian diagnostic partners. The group's product, PIFA Heparin/Platele, was designed for the qualitative detection of antibodies.Under the terms of the agreement, the group expects to start marketing Aker's product immediately. Earlier this month the group announced it had signed a three-year distribution agreement to sell its products in Australia, Singapore, the United Arab Emirates and Oman.Executive Chairman Raymond F Akers said: "India is one of the fastest growing major economies in the world and an important market for ABI to penetrate identifying the right partner to represent the company's products in complex markets like India is of upmost importance."As of 09:02, Akers share price had risen 2.7% to 270p.WS