Novacyt S.A. Shuts Down IT-IS Subsidiary

Novacyt (FR:ALNOV) has released an update.

Novacyt S.A. has announced the immediate closure of its subsidiary IT-IS International, a manufacturer of rapid-PCR instruments, due to a saturated market and consecutive loss-making years. The company expects to see an improvement in its EBITDA by approximately £1.0m annually as a result of the closure, despite a restructuring charge of around £0.7m. Novacyt will retain IT-IS’s intellectual property to continue a long-standing IP dispute with Roche Diagnostics GmbH.

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