EXCLUSIVE: Co-Diagnostics Expands South Asia Reach, Targets $13 Billion Market Opportunity

Co-Diagnostics Inc. (NASDAQ:CODX) on Friday signed an agreement for CoSara Diagnostics Pvt. Ltd, to expand its commercial and distribution territory across South Asia to include Bangladesh, Pakistan, Nepal, and Sri Lanka. CoSara is the Indian joint venture between Co-Dx and Ambalal Sarabhai Enterprises Limited. Co-Diagnostics, most recently, regained NASDAQ listing compliance. Territory Expansion Unlocks $13 Billion Market Opportunity The expansion significantly increases CoSara's addressable market across South Asia, bringing the total regional opportunity to an estimated $13 billion based on internal analyses and third-party market data. It also supports CoSara's plans to commercialize the CoSara PCR Pro point-of-care instrument and tests, as well as the SARAGENE product line across the region, subject to applicable regulatory approvals. As part of this expansion, CoSara is working to establish distribution channels in these newly added markets, including evaluating regulatory pathways, identifying priority customer segments, and engaging regional distribution partners. Leadership Highlights Growing Demand in South Asia Mohal Sarabhai, CEO of CoSara, commented, "South Asia represents a large and rapidly growing market for molecular diagnostics, with a significant need for easily accessible, non-invasive, quick, and reliable testing solutions.” “Expanding our territory allows us to begin building relationships with regional partners and positions us to support the future commercialization of the point-of-care PCR platform across these markets, increasing access to molecular tests for tuberculosis, HPV, and upper respiratory infections." Co-Diagnostics CEO Dwight Egan added. "This expansion reflects our broader strategy of establishing regional infrastructure ahead of product commercialization. By building local manufacturing and distribution capabilities in key regions, including the United States, South Asia, and the Middle East and North Africa, we are positioning Co-Dx to support scalable, global deployment of our PCR point-of-care platform and drive long-term growth," Egan commented. Distributor Engagement Planned for 2026 To support these efforts, CoSara plans to host a virtual distributor information session in the second quarter of 2026, followed by an in-person distributor meeting and training event later this summer. In March, Co-Diagnostics announced a Japanese patent covering Co-Dx PCR platform technologies. CODX Price Action: Co-Diagnostics shares were up 9.43% at $2.90 during premarket trading on Friday. The stock is trading near its 52-week low of $2.04, according to Benzinga Pro data. Image via Shutterstock