Business
Credence launches the COVID Diagnostics Center
Credence Genomics, trail blazers in the area of genome diagnostics, has launched the COVID Diagnostics Center to cater for the needs of COVID RT-qPCR testing in Sri Lanka. The company announced last week.
The COVID Diagnostics Center is a diagnostic grade facility with the capacity to deliver over 6,000 tests, a four- hour reporting time and a lab time of 70 mins. Credence CDC President Dr. Sarath Paranavitane, an industry veteran who has been involved in many important local and international healthcare projects that cater to high quality testing and patient care, who will be heading the Centre said.
“The vision behind the COVID Diagnostics Center (CDC) is to serve the need for rapid high quality PCR testing where a patient can conduct the gold standard qPCR test within three hours based on enhanced technology investments. The unit uses robotic magnetic bead extractors from Pentabase Denmark, a leader in RNA extraction and qPCR. The units are used in major airports, and health institutions including Sri Lanka’s BIA lab which conducted 100,00 tests on this platform recently”, said Paranavitane.
Credence CDC also uses diagnostic grade approved RT-qPCR machines from leading suppliers in a purpose-built facility designed specifically to prevent contamination, while a team of award-winning Lankan scientists with global delivery experience is behind every single test. The facility follows strict decontamination and fogging protocols ensuring the integrity of the unit and in turn each sample, a news release said.
“Each sample is registered online, and sample integrity is checked through multiple quality control parameters, while Credence only works with collectors who are evaluated and certified by a consultant microbiologist or virologist”.
Paranavitane went on to say that the COVID Diagnostic Center has been conceived to respond to the national need for high quality, rapid, and precise PCR testing. An early test result will enable the Sri Lankan workforce to take prompt action in keeping with the government guidelines which in turn will help the workforce to return to work early and ensure smooth functioning of the organization.
“A test of this speed, accuracy and cost effectiveness will reduce the government burden by encouraging early home isolation and also curtail spread of COVID 19.”
The uniqueness of the Credence lab vis-a- vis other facilities includes the fact that it is the only facility that could perform 6,000 tests per day and give a report in four hours, the entire process from collection point to generation of a report can be viewed on line by an access given from a dedicated portal, and all tests are done on a diagnostic platform as opposed to a research platform with no pooling of samples.
The process is automated with minimal human interaction thereby ensuring 100 % accuracy. Every report carries the CT value in compliance with WHO and CDC guidelines, while the team of collectors are trained and certified by a consultant microbiologist and consultant physician [Dr Paranavitane] on an ongoing basis, with weekly reviews.
“Collection of samples as you are aware is the first most important step in this process of PCR testing as if this is not done properly, the subsequent steps leading to report generation becomes a futile exercise” said Paranavitane.
CEO, Credence Genomics Dr. Vaz Gnanam said “the COVID Diagnostic Center is an amalgamation of scientists, healthcare professionals, and the most advanced technology along with data systems and processes under the exemplary leadership of Dr. Sarath Paranavitane in response to the national crisis caused by COVID. Credence Genomics considers it a privilege to serve our nation at this time of crisis.
Dr. Vaz Gnanam futher said that Credence Genomics is honoured to join hands with the Central Medical Centre (PVT) Ltd. at Kohuwala – a longstanding and reputed family practice of Dr.Sarath Paranavitane’s to take forward the concept of next generation sequencing in cancer management at both primary and secondary healthcare levels
Credence Genomics (Pvt) Limited is Sri Lanka’s first and foremost clinical genomics laboratory to provide high throughput, high quality next generation sequencing services. Credence Genomics services both international and local genetic testing markets by exporting high quality testing services and products. A long term collaboration with Apollo Hospitals in India , has seen Credence’s unique infectious disease Bactfast and Fungifast being used across the board at arguably the largest South Asian healthcare services provider. Credence Genomics has forged many partnerships globally and delivers their oncology and fertility range apart from the award winning dxn1 – infectious disease range.
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SLT-Mobitel, the nation’s ICT and Telecommunications Service Provider recently partnered with Spotify, to mark their launch in Sri Lanka. Spotify is a paid premium music streaming app which allows subscribers to listen to music to their hearts content. Both, SLT-Mobitel Post-Paid and Pre-Paid customers will now be able to enjoy Spotify by activating a monthly recurring subscription or one-time subscription plan and access unlimited music streaming and downloading facilities.
The subscription charges will get added to the user’s customary billing, where payment will be deducted in real time. Starting from the payment date, the user will be able to access Spotify and download their favourite songs, for the next 30 days. Users who sign up for their first monthly subscription will receive an additional one month, courtesy of Spotify. The one-month subscription plan is not applicable with one-time subscription plans. SLT-Mobitel data rates, depending on the user’s respective broadband charges, will apply.
Spotify also has some exciting features that will provide SLT-Mobitel customers with the opportunity to listen to ad-free music, access millions of uninterrupted music under one platform, play any song they like, anywhere they go, and also be able to enjoy their music offline.
SLT-Mobitel customers can select their preferred premium package under four categories; Individual, Duo, Family, Student. Each category has recurring and non-recurring plans. After one month of free streaming, the package will activate once the offer period terminates. While both, the Individual and Student premiums are limited to one account user, the Duo package offers two accounts and the Family premium is accessible through six accounts. To view Spotify plans, users can log on to https://spoti.fi/3aLWvce
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by Sanath Nanayakkare
Anyone conversant with the elements of a political economy would know that Sri Lanka is using its ‘sovereign power’ to manage the different dynamics of the economy in a sustainable manner, Professor W. D Lakshman Governor of the Central Bank said on Wednesday.
“Some critics are saying that we adopt a so-called modern monetary theory. That’s not the case. In fact, Sri Lanka is using its sovereign power in a number of economic aspects to honour its external debt repayment commitments as well as to reduce its debt burden in the medium term as well as achieve resilient growth in the medium to long term, he said.
“We make policy decisions to boost our gross foreign reserves, meet our external debt servicing, to facilitate monetary expansion, to boost our GDP growth, to strengthen our current account balance and manage our domestic and external economic variables in a sustainable manner. This is not a modern monetary theory. This is an age-old tool used by central banks around the world when the circumstances demand it, he said.
“Certain trade-offs will be necessary when dealing with an economy which has a big fiscal gap to bridge. There are efforts to push Sri Lanka towards the IMF again which would in turn have influence on our policymaking. We have taken policy measures to stabilize the economy and we have adequate reserve levels to meet our debt repayments. Meanwhile, we are in negotiations with overseas central banks and multilateral agencies to further boost our reserve level and it would materialise within a matter of weeks,” he noted.
“One of the tools the Central Bank has introduced is in respect of repatriation of export proceeds into Sri Lanka and conversion of such proceeds into Sri Lankan rupees in order to strengthen the foreign exchange situation of the country,” he said.
The Governor made these remarks while delivering the keynote speech at a webinar organised by the Veemansa Initiative led by its Managing Director Luxman Siriwardene – the former Executive Director of Pathfinder Foundation.
The webinar revolved round the topic ‘External debt situation in Sri Lanka: Are we heading for a resolution or crisis?’
Professor Sirimal Abeyratne, Prof. Sumanasiri Liyanage, Dr. Nishan de Mel and Dr. Ravi Liyanage were the other speakers on the panel.
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By Hiran H.Senewiratne
CSE produced signs of a rebound yesterday with both indices closing positive, though turnover remained low. Central Bank Governor W.D Lakshman’s recent statement on managing foreign reserves gave some boost to the market yesterday, stock market analysts said.
The index experienced a zigzag movement within the early hours of trading; thereafter, it recorded a slight up-trend as it reached its intraday high of 7,439. Later, the market witnessed a down-trend at mid-day, followed by a sideways movement and closed at 7,372, gaining 43 points during the month of February, market sources said.
It is said the banking sector dominated turnover with a contribution of considerable parcel trades in Sampath Bank, Commercial Bank and HNB.
Further, the Commercial Bank’s impressive quarterly results during the recent turbulent period also built investor confidence. Commercial Bank was able to register a18 percent net interest income when other banks were reporting a decline. Its share price increased by Rs. 3 or 3.5 percent. On the previous day, its shares started trading at Rs. 85 and at the end of the day they moved up to Rs. 88. Due to the positive growth results, the bank announced a Rs. 4.40 dividend per share, plus a Rs. 2 script divergent for every share.
Further, Sampath Bank shares also appreciated in both crossing and retail. In crossings its shares appreciated by Rs. 1.At the end of the day they moved up to Rs. 154.50. In the retail market, its shares moved up by Rs. 2 or 1.3 percent. Previously, its shares fetched Rs. 154 and at the end of yesterday they moved up to Rs. 156.
Amid those developments, both indices moved upwards. The All Share Price Index went up by 104.48 points and S and P SL20 rose by 67.78 points. Turnover stood at Rs. 3 billion with four crossings. Those crossings were reported in Sampath Bank, where 3.9 million shares crossed for Rs. 602.2 million, its share price being Rs. 154.50, HNB 375,000 shares crossed for Rs. 39.4 million, its shares traded at Rs. 105, Pan Asia Power 9.5 million shares crossed for Rs. 33.2 million, its shares traded at Rs. 3.50 and Access Engineering 1.2 million shares crossed for Rs. 28.2 million; its shares traded at Rs. 24.
In the retail market top five companies that mainly contributed to the turnover were, Expolanka Rs. 450 million (10 million shares traded), JKH Rs. 205 million (1.3 million shares traded), Browns Investments Rs. 199 million (34.9 million shares traded), Sampath Bank Rs. 191 million (1.2 million shares traded) and Dipped Products Rs. 137.7 million (2.8 million shares traded). During the day 101 million share volumes changed hands in 18046 transactions.
During the day, Expolanka, the biggest contributor to the turnover, saw its share price appreciating by Rs. 6.20 or 15 percent. Its share price quoted on the previous day was Rs. 41 and at the end of trading yesterday it moved up to Rs. 47.
Sri Lanka’s rupee quoted wider at 193.50/195.50 levels to the US dollar in the spot next market on Thursday while bond yields remained unchanged, dealers said. The rupee last closed in the spot market at 194.50/195.00 to the dollar on Wednesday.
