US$12.3 TRILLION out of thin air…
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Revenue increased 900% year-on-year in the second quarter of 2020 to €36m. In a trading update issued at the beginning of April, management announced revenues had increased further to €83m in the first quarter of 2021.
DHSC contract
The company’s agreement with the DHSC has been responsible for a large chunk of this growth. At the end of April 2020, Novacyt committed to supplying 288,000 of its coronavirus tests per week to the DHSC for use in the NHS.