Italian Billionaire Gustavo Denegri Gains $100 Million As His Firm Announces New Coronavirus Test

Italian billionaire Gustavo Denegri gained $100 million as his firm announced a new coronavirus test

of casualties outside of China, where the outbreak began late last year. Globally, the latest WHO report released on Tuesday listed nearly 110,000 COVID-19 cases worldwide, with 3,809 deaths.

Founded in Saluggia, Italy in 1968, DiaSorin makes diagnostic tests for various infectious diseases including the H1N1 swine flu and the zika virus. In 2000, Denegri acquired the distressed business from plumbing fixtures manufacturer American Standard Companies through his private equity firm, IP Investimenti e Partecipazioni. The trained chemist, who still chairs the company, turned around its fortunes, culminating in an IPO on the Milan stock exchange in 2007.

This is not the first time DiaSorin has rapidly responded to a virus outbreak. It obtained emergency authorization from the FDA for rapid testing kits for the H1N1

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