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May 16, 2022, 5:40 p.m. EDT

FDA authorizes Labcorp's direct-to-consumer test for RSV, the flu, and COVID-19

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By Jaimy Lee

The Food and Drug Administration on Monday authorized a test developed by Laboratory Corporation of America Holdings /zigman2/quotes/203174601/composite LH +0.45% 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 /zigman2/quotes/210599714/realtime SPX -0.27% is down 15.5%.

/zigman2/quotes/203174601/composite
US : U.S.: NYSE
$ 241.08
+1.08 +0.45%
Volume: 137,968
July 6, 2022 12:46p
P/E Ratio
11.06
Dividend Yield
1.20%
Market Cap
$22.36 billion
Rev. per Employee
$210,053
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/zigman2/quotes/210599714/realtime
US : S&P US
3,821.15
-10.24 -0.27%
Volume: 949.78M
July 6, 2022 12:47p
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