FDA Gives Nod To First Nonprescription COVID-19 Test That Also Detects Flu, RSV

• The FDA has authorized the first nonprescription test to detect Covid-19, influenza, and respiratory syncytial virus (RSV).
• The test, called the Labcorp Seasonal Respiratory Virus RT-PCR DTC Test, was developed by Laboratory Corp of America Holdings (NYSE:LH).
• It can be sold directly to consumers online or at retail. 
• A person can self-collect a nasal swab sample at home and then send that sample to Labcorp for testing. 
• According to Wall Street Journal, the test kit costs $169 but comes at no upfront cost to those who meet clinical guidelines and have insurance, a Labcorp spokesperson said. 
• People without insurance would have to pay upfront when ordering a kit. A federal program meant to cover Covid-19 testing and treatment for those without an insurance ended in March after officials said it ran out of funds.
• Results are delivered through an online portal, with a follow-up from a healthcare provider if the outcome is positive or invalid. 
• Price Action: LH shares closed at $242.38 on Monday.
• Photo by Mufid Majnun on Unsplash