The Food and Drug Administration on Monday authorized a test developed by Laboratory Corporation of America Holdings (NYS:LH) that allows people in the U.S. to self-test for respiratory syncytial virus (RSV), a type of common cold, as well as the flu and COVID-19. The test does not require a prescription. People swab at home and send the test by mail to a Labcorp lab. Results are then made available in an online portal. Teens and children are also authorized to test with the support of adults. The test kit costs $169 and may be covered by insurance, according to a spokesperson. It is expected to be available within the next three weeks. Labcorp's stock has tumbled 22.5% this year, while the broader S&P 500 (S&P:SPX) is down 15.5%.
May 16, 2022, 5:40 p.m. EDT