LabCorp at-home coronavirus test gets FDA emergency authorization

Self-administered test kit being sold for $119

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The Food and Drug Administration gave emergency authorization Tuesday to the first at-home novel coronavirus test kit.

Life science company LabCorp's stock rose on the news Tuesday.

The self-administered test kit, which does not require a clinician, is currently being offered only to health care workers and first responders who may have been exposed to the virus or have virus symptoms.

TickerSecurityLastChangeChange %
LHLABORATORY CORP OF AMERICA201.96-5.53-2.67%

LabCorp is selling it for $119 on its website, and consumers must first fill out a survey to determine if they are eligible to buy it.

LabCorp says it intends to make the kit available to the broader public "in the coming weeks."

WHERE CAN YOU GET A CORONAVIRUS TEST?

"We worked with LabCorp to ensure the data demonstrated from at-home patient sample collection is as safe and accurate as sample collection at a doctor’s office, hospital or other testing site," said FDA Commissioner Stephen Hahn.

Users collect a sample using a nasal swab and ship the sample to a LabCorp testing lab, and results can be accessed online.

"Our at-home collection kits are designed to make it easier and safer to test healthcare workers and first responders during this important time," Adam Schechter, president and CEO of LabCorp, said in a statement.

CORONAVIRUS SPARKS FLOOD OF HEALTH CONCERNS ABOUT DISINFECTANTS, CLEANERS

LabCorp is one of several science and medical companies working closely with the Trump administration to create and distribute COVID-19 tests as the country faces a shortage.

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The Department of Health and Human Services Office of the Inspector General interviewed 323 hospitals across 46 States in March and issued a report on April 6 that found most U.S. hospitals are experiencing testing shortages and extended wait times for test results.

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