Abbott shares climb as US approves 15-minute Covid test
A 15-minute Covid test from Abbott Laboratories that will be priced at $5 (€4.25) has been granted emergency authorisation for use in the US, a breakthrough that could ease the bottleneck that has crimped much of the US's testing capacity.
The company’s shares climbed as much as 13% at one stage. The product, dubbed BinaxNOW, works without relying on laboratory equipment at a time when labs can take up to two weeks to produce results. It uses a nasal swab and a small reactive card, and it can be administered by a range of health-care workers, including pharmacists, at almost any location.
