4. Tackling the shortage of testsAmid a shortage of tests for SARS-CoV-2 virus that causes COVID-19, FDA has also been granting a host of emergency use authorizations to companies that have developed tests. The agency is even allowing individual states to approve diagnostic tests for COVID-19 — an unprecedented move.
Roche (SWX: RO, ROG) says it could eventually have millions of tests available per month to run on its high-volume Cobas 6800/8800 system. Thermo Fisher Scientific (NYSE:TMO) has 1.5 million tests available to ship, and Hologic (NSDQ:HOLX) expects to ship tens of thousands of tests this month. Abbott (NYSE:ABT) will immediately ship 150,000 of its RealTime SARS-CoV-2 EUA tests to existing U.S customers.
Medical experts told The Wall Street Journal that the emergency use authorization should ease the shortage of tests, but at the potential cost of the tests being less reliable.