‘Rapid’ coronavirus test from Abbott Labs approved by the FDA

Pence: Coronavirus testing now available in all 50 states

Vice President Mike Pence commends state governors and businesses for their leadership and willingness to help recover the economy and contain coronavirus.

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Abbott Laboratories which has developed a coronavirus test which the company says can provide results quickly — in as little as five minutes for positive results and negative results in under 15 minutes — was approved Friday by Food and Drug Administration.

Given the green light under the agency's “emergency use authorization,” the approval comes less than 24 hours after  Vice President Mike Pence announced its potential availability.

"This would be the kind of test where you could go to your doctor, you could get the test done there at your doctor, and have the results in no more than 15 minutes,” Pence said.

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ABT ABBOTT LABORATORIES 74.56 -1.25 -1.65%

These tests could take the burden off hospitals and some of the "drive-thru" testing centers as it is a “point-of-care” diagnostic tests which can be used in temporary screening locations, doctor’s office labs and nursing homes to detect the coronavirus strain COVID-19.

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Last week, Abbott Laboratories said it had already shipped 150,000 rapid tests for coronavirus and that it would be scaling up production at its U.S. manufacturing locations to reach capacity for 1 million tests per week by the end of March.

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