BioSino and Abbott Announce Agreement to Provide Clinical Chemistry Reagents in CHINA

 

Agreement Will Provide China Medical Laboratories with More Flexible Solutions for Clinical Chemistry Testing

Beijing, China, Feb. 28, 2012 – BioSino Bio-Technology & Science Inc. and Abbott, the global health care company, announced they have entered into an agreement to sell and distribute BioSino clinical chemistry reagents in China. BioSino is a leading domestic developer, manufacturer and distributor of in vitro reagents in China. The agreement enables Abbott to provide a more comprehensive clinical chemistry assay menu to laboratory customers.

“We are pleased to partner with Abbott to provide laboratory customers with diagnostics solutions and services to help them better care for their patients,” said BioSino President, Mr. Wu Lebin. “This collaboration is closely aligned with our strategic development plans and signifies Abbott’s recognition of the superior quality of our products and services,” said Lebin.

Under the terms of the agreement, Abbott will provide chemistry reagents that are traceable for customers and cost effective. The company will also consult with BioSino to develop a reagent bar code system that can be read by Abbott’s ARCHITECT? analyzers to allow for ease of operation for laboratories.

Abbott is a global leader in in vitro diagnostics and offers a broad range of innovative instrument systems and tests for hospitals, reference labs, molecular labs, blood banks, physician offices and clinics.

“Our agreement with BioSino will allow Abbott to better serve our core lab customers and enable more hospitals to utilize our clinical chemistry and immunoassay integrated systems, with a choice of using flexible reagent options, while having access to excellent service and advanced remote diagnostic technology,” said Kenny Lam, general manager of Abbott Diagnostics China. “We are happy to collaborate with BioSino as it is one of the most respected clinical chemistry reagent manufacturers in China,” he added.

 

About Biosino Bio-Technology and Science Incorporation

Biosino Bio-Technology and Science Incorporation has a history of making chemistry reagents via its previous entity, the Institute of Physics, Chinese Academy of Sciences, to develop the first enzymatic clinical chemistry reagent kits in China in 1985. In 2004, BioSino has started to establish a traceability system for all their reagents sold in China, including controls and standards. In 2006 they were supported by the government 11th five year plan the “863 plan” to conduct the development and research of reagent and standard development program, to establish “system reagent series”. BioSino has validated and registered their reagents on Abbott ARCHITECT chemistry platform in 2011. These reagents cover panels for Liver, Renal, Lipid, and Cardiology.

About Abbott

Abbott is a global, broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products, including nutritionals, devices and diagnostics. The company employs approximately 91,000 people and markets its products in more than 130 countries.

Abbott's information and news releases are available on the company's Web site at www.abbott.com.

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Ms. Gao Jie (VP, BioSino) chaired the Signing Ceremony

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Mr. Kenny Lam (General Manager, Abbott Diagnostics China) addressed at the Signing Ceremony

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Mr. John Schueler (Divisional VP, Business Development, Abbott Diagnostics) addressed at the Signing Ceremony

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Ms. Wang Jianqing (VP, BioSino) addressed at the Signing Ceremony

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Mr. Wu Lebin (President, Chairman of Board, BioSino) and Mr. Kenny Lam (General Manager, Abbott Diagnostics China) interchanged the Agreements after the Signing Ceremony

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Both Parties turned on the Cooperation Ball