Abbott Laboratories (ABT) - Get Report received emergency use authorization from the U.S. Food and Drug Administration for a coronavirus test that the company said can deliver positive results in as little as five minutes and negative results in 13 minutes.
In a press release, Abbott said the test can be used outside a hospital setting such as a doctor’s office or at an urgent care clinic.
The company said it plans to deliver 50,000 of the ID NOW Covid-19 tests per day, beginning next week.
"Through the incredible work of teams across Abbott, we expect to deliver 50,000 Covid-19 tests per day to healthcare professionals on the front lines, where testing capabilities are needed most," said Chris Scoggins, senior vice president at the Rapid Diagnostics division of Abbott. "Portable molecular testing expands the country's capacity to get people answers faster.”
Abbott said in its statement that the test hasn’t been cleared or approved by the FDA but it “has been authorized by the FDA under an emergency use authorization for use by authorized laboratories and patient care settings.”
“This is really going to provide a tremendous opportunity for front-line caregivers, those having to diagnose a lot of infections, to close the gap with our testing,” John Frels, vice president of research and development at Abbott Diagnostics, told Bloomberg. “A clinic will be able to turn that result around quickly, while the patient is waiting.”
As of Saturday, more than 621,600 people around the world had contracted coronavirus Covid-19, according to data compiled by Johns Hopkins University, with 28,658 deaths.
In the U.S. - which now has the most coronavirus cases - 104,865 cases of the virus have been confirms with deaths totaling 1,730.
Abbott last week received emergency FDA approval to begin mass-producing and distributing a molecular test for Covid-19. Abbott said it would ramp up production to hit a goal of providing up to 1 million tests per week.