Cupid Limited Broadens Distribution Network for Rapid IVD Kits in India and Reinforces Global IVD Presence

New Delhi, June 5, 2024: Cupid Limited is thrilled to announce the commencement of its strategic venture into the Indian market through the introduction of its Rapid In Vitro Diagnostic (IVD) kits distribution network. This move is a key component of Cupid’s overarching strategy to amplify its presence in the worldwide IVD market.

Indian Market Expansion: Cupid Limited has initiated the distribution of its IVD kits in various states across India, including Maharashtra, Goa, Gujarat, Rajasthan, Jammu & Kashmir, and Madhya Pradesh. The company is targeting a nationwide presence by the end of the fiscal year and has already established a strong sales team for this purpose.

Given India’s escalating disposable incomes and mounting emphasis on preventive healthcare, there is a growing demand for diagnostic services. The country is home to over 100,000 diagnostic labs, a notable proportion being standalone or affiliated with hospitals.

Cupid’s current array of IVD products comprises 13 distinct kits, marketed under the brand names “Cupikit” and “Cupisure”. The company aims to position Cupikit in over 10,000 labs and distribute Cupisure pregnancy detection kits to more than 100,000 chemist outlets by the close of the financial year. Within three months of their launch, the pregnancy detection kits have already been placed in 25,000 chemist outlets.

Cutting-Edge Manufacturing Facility: Cupid Limited operates the state-of-the-art IVD manufacturing plant in Sinnar, Maharashtra, which boasts an annual production capacity exceeding 30 million kits. This facility, which has been operational for more than two years, is due for further capacity expansion in the upcoming quarters.

Diverse Product Lineup: Cupid’s IVD product range encompasses:

 Certifications and Validations: Cupid’s IVD kits hold certifications under ISO 13485:2016 and ISO 14001:2015 and have received approval from CDSCO. These products are validated by prestigious laboratories, including the National Institute of Biological (NIB), ICMR (Indian Institute of Malaria Research), and NABL Accredited Labs. The company is also in the process of securing WHO PQ and European CE certifications for multiple products.

Global Footprint: Cupid has successfully exported IVD kits to nations like Tanzania, Liberia, Ghana, the Philippines, and Nepal. Additionally, the company is currently in the process of product registration in Cameroon, Myanmar, Bhutan, Mozambique, Nigeria, Ethiopia, Zambia, and Sierra Leone. The present export orders total approximately INR 1.25 crore.

Outlook for the Future: To accommodate the escalating demand, Cupid is installing fully automatic machines to significantly augment the production capacity. The company is optimistic about the future trajectory of its IVD segment, with a robust leadership team fueling growth and innovation.

Aditya Halwasiya, Managing Director of Cupid Limited, remarked, “The IVD Kits segment of Cupid is positioned to be a substantial growth catalyst for our company. Our dedicated team, spearheaded by Amit Tripathi, has made significant strides in establishing and broadening our IVD portfolio. We remain committed to leveraging our competitive edge to tap into the immense potential of the IVD market.”