Quest Diagnostics said on Thursday it received emergency use authorization (EUA) for its self-collection COVID-19 test kit from the U.S. Food and Drug Administration, sending its shares up 3%.
The company expects to have more than half a million kits available by end of June and more as required later.
Several medical device makers and diagnostic companies have joined the race to expand COVID-19 testing capabilities for the widespread virus that has killed 355,880 people globally and hammered the world economy.
Quest plans to make the self-collection kits available for healthcare providers and employers for return-to-work testing programs.
The test requires people to swab the front part of the nostril at home or in a healthcare setting when deemed necessary. It is suitable for all, even children under adult supervision.
Specimens collected with the kit may be tested with the diagnostics company's SARS-CoV-2 RT-PCR test that received an EUA in March, the company said.
(Reporting by Trisha Roy in Bengaluru; Editing by Amy Caren Daniel and Shinjini Ganguli)
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