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Trump administration to purchase 150 million Abbott COVID-19 tests for $750 mln

Credit: REUTERS/Shailesh Andrade

The Trump administration will purchase 150 million rapid coronavirus tests from Abbott Laboratories for about $750 million, a White House spokeswoman said on Thursday.

WASHINGTON, Aug 27 (Reuters) - The Trump administration will purchase 150 million rapid coronavirus tests from Abbott Laboratories ABT.N for about $750 million, a White House spokeswoman said on Thursday.

The portable antigen tests, which can deliver results within 15 minutes and will sell for $5, received emergency use authorization from the U.S. Food and Drug Administration on Wednesday.

The White House confirmed an earlier report from Politico.

The U.S. has more COVID-19 testing than most. So why is it falling so short?https://reut.rs/3b2c1yZ

(Reporting by Jeff Mason; Editing by Dan Grebler)

((jeff.mason@thomsonreuters.com ; On Twitter: https://twitter.com/jeffmason1))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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