AMDL Inc. announced the inauguration of AMDL Diagnostics Inc. (ADI), a new whollyâ€owned subsidiary that will focus on the research, development, manufacture, and international sales of Onkoâ€Sure, AMDL’s proprietary, regulatory approved IVD cancer test.
The establishment of a separate subsidiary allows AMDL to concentrate specific resources to the successful execution of that plan. ADI intends to achieve goals set forth in its 5â€year plan by securing adequate financing, significantly broadening its distribution network, and continuing to research, develop, and commercialize current and future diagnostic products. ADI’s management believes sales of Onkoâ€Sure test kits are likely to exceed $100 million per year by the end of FY2014. Current projections for ADI indicate FY2009 sales of approximately $1 million and generating a small loss for the year, and sales of approximately $17 million with over $13 million in earnings in FY2010.
Tags: Cancer
