FDA Issues Emergency Use Authorization for Roche's Coronavirus Test
The Food and Drug Administration issued an Emergency Use Authorization for Roche's (OTC: RHHBY) cobas SARS-CoV-2 test, which detects the novel coronavirus that causes COVID-19. Shares of Roche were up 7.4% at 1:25 p.m. EDT on Friday on the news.
The test runs on Roche's cobas 6800 and cobas 8800 Systems, which are installed in diagnostic laboratories in the U.S. and across the world. The test takes three and a half hours to run, and the machines can run multiple tests at the same time, allowing for a total of 1,440 results in 24 hours for the cobas 6800 System and 4,128 results for the cobas 8800 System.
Roche plans to make millions of tests per month available.
Source Fool.com
