Abbott to Receive Order for 150 Million Rapid COVID-19 Tests

Rapid COVID-19 testing in the U.S. might finally get up to speed this fall. According to Politico, the Trump administration struck a $750 million deal with Abbott (NYSE: ABT) to acquire 150 million rapid tests.

On Wednesday, the FDA issued an emergency use authorization (EUA) to Abbott for its BinaxNow COVID-19 Ag Card. This is a $5 test that doesn't require any special equipment and delivers results in 15 minutes from a simple nasal swab.

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Source Fool.com