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OraSure Technologies Shares Jump on Health Department Contract

Shares of the pharmaceutical company were climbing Wednesday on news of a $16.6 million contract awarded.

Shares of drugmaker OraSure Technologies (OSUR) - Get OraSure Technologies Inc. Report , a holding in TheStreet's Stocks Under $10 portfolio, were higher Wednesday on word the company was awarded a six-year, $16.6 million contract from the U.S. department of Health and Human Services. The contract will support OraSure's ongoing development of Zika virus testing, and will include an initial commitment of $7 million and options for up to nearly $10 million to fund related product enhancements. OraSure noted in a Tuesday statement that "the availability of an accurate rapid Zika antibody test will be a valuable tool to address current and potential future outbreaks." OraSure Technolgoies shares are up roughly 21 percent so far in 2016.

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