9/16, 12:37 PM (Source: TeleTrader)
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FDA gives Abbott approval for new COVID-19 test

Abbott Laboratories received emergency use authorization from the United States Food and Drug Administration (FDA) for its new COVID-19 15-minute test, the company announced on Wednesday. Abbott expects to ship up to 50 million tests a month.

The BinaxNow COVID-19 Ag Card rapid test is "highly portable," the company explained, adding that no special equipment is needed to process the test results. Additionally, the test comes with a matching app that can act as proof of a negative test result for anyone who took it.

Abbott stocks were up 1.19% before the bell in New York.

Breaking the News / VP