Quest Diagnostics (DGX) To Launch Coronavirus Test Service
Zacks Investment Research | Mar 09, 2020 09:19PM ET
Quest Diagnostics (NYSE:DGX) announced plans to launch a coronavirus (COVID-19) test service once it is prepared to receive specimens for testing from Mar 9, 2020. Through the latest service, the company will cater to the testing requirements of patients in the United States by providing access to the test.
Notably, the test facilitates the presumptive detection of nucleic acid in respiratory samples of patients who meet the clinical criteria of the Centers for Disease Control and Prevention (“CDC”) for COVID-19 testing.
With the latest test service launch, Quest Diagnostics aims to strengthen its position in the global Diagnostic Information Services segment.
Regulatory Status of the Test
Quest Diagnostics will provide the service as a laboratory-developed test. However, the FDA’s review under emergency use authorization (“EUA”) is still pending. The company will submit the same for the FDA’s review within 15 days of clinical testing, as mandated by the guidance.
Significance of the Test Service
Per Quest Diagnostics, the test service is expected to employ respiratory specimens collected in suitable health care settings, such as hospitals and physician offices.
However, the company has notified that it is not collecting any sample at its patient service centers and phlebotomy sites. Patients, who are suspected as well as confirmed to have COVID-19, should consult a physician for advices about the process to provide specimens for testing by the company.
Notably, the company’s direct peer LabCorp (NYSE:LH) also announced the availability of LabCorp 2019 Novel Coronavirus (COVID-19), NAA test, which detects the presence of the underlying virus causing the COVID-19. The test will be used for patients that meet the current evaluation guidance of infection with the same. Currently, LabCorp is pursuing an EUA for the NAA test.
Industry Prospects
Per a report by Zacks Investment Research
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