Abaxis, Inc. Announces 10-Year Contract to Supply BD with Orbos Reagent Beads

Abaxis, Inc. ABAX, a medical products company manufacturing point-of-care blood analysis systems, announced today the Company has signed a new 10-year supplier contract with BD (Becton, Dickinson and Company) for products using the Abaxis' patented Orbos Discrete Lyophilization Process (the "Orbos Process"). The new 10-year agreement takes effect immediately and replaces the expiring 5-year agreement. Based upon current demand, the new 10-year contract has an approximate value of $30 million over the life of the contract. The dry reagents manufactured by Abaxis are produced using the Company's proprietary technology - the Orbos ® Discrete Lyophilization Process. One aspect of this process allows the production of a precise amount of active chemical ingredient in the form of a soluble bead. This aspect of the Orbos process has broad applications in products where delivery of active ingredients in a stable, pre-metered format is desired.