Business
Universal Biosensors (ASX:UBI) share price falls despite positive update
The Universal Biosensors Inc (ASX: UBI) share price has spent the day in negative territory today despite the company announcing a new distribution deal.
During the early afternoon trade, the medical diagnostics company’s shares are swapping hands for 69 cents, down 1.4%. In comparison, the All Ordinaries Index (ASX: XAO) is sitting at 7,350 points, up 0.4%.
What did Universal Biosensors announce?
In today’s statement, Universal Biosensors advised it has entered into an exclusive distribution agreement with Grapeworks NZ Limited.
The arrangement will see Universal Biosensors supply its wine testing platform device, Sentia for the New Zealand market. The deal will last for 5 years, provided initial and minimum annual purchase…
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