Trinity Biotech shares fall 9.20% premarket despite regulatory approval for offshore manufacturing.

Trinity Biotech Plc dropped 9.19% in premarket trading. The company announced that it has received regulatory approval to initiate offshore and outsourced manufacturing of its flagship WHO prequalified TrinScreen HIV rapid test. This strategic shift is expected to expand gross margins, free up working capital, and enhance scalability. However, the market may be reacting negatively to the potential risks and uncertainties associated with transitioning to a new manufacturing model.