New distribution rights for Biohit

Translation: Original published in Finnish on 1/17/2025 at 7:09 am EET.

Biohit announced on Thursday that it has signed a distribution agreement with Biomedal for the distribution of celiac disease diagnostic tests in selected European countries. The distribution agreement complements Biohit's product portfolio, which already includes a quick test for celiac disease. We expect modest revenues from the distribution agreement and the news is in line with our strong growth projections.

The agreement complements Biohit’s product portfolio

The agreement with Biomedal concerns diagnostic tests for the detection of gluten immunogenic peptides that activate the immune response in celiac disease. The tests provide a quick and patient-friendly solution for celiac disease patients to monitor their gluten intake. The tests can be used by both healthcare professionals and patients. The agreement provides Biohit with exclusive distribution rights for Biomedal's quick test and immunoassays portfolio in the Netherlands, Ireland, Norway, Portugal, France, Sweden, Finland, Switzerland, Denmark, Czech Republic, Hungary and the United Kingdom. Biohit also receives non-exclusive rights in all European countries except Italy and Spain. The agreement expands Biohit's product portfolio. In terms of commercial potential, we expect the new products to have a moderate impact on revenue. We understand that the majority of Biohit's revenue is generated from sales of the GastroPanel® product family.

Fast growth expected in the coming years

Biohit is targeting strong annual growth of 15-20% over the strategy period 2024-2028. Our forecasts also predict strong growth. The news of the increase in the number of products sold is therefore in line with our expectations and does not lead to any changes in our forecasts at this stage. Biohit will publish its financial statements on February 12, which will provide more detailed information on the company's development.