QDEL - New Coronavirus Tests Have These Diagnostics Companies Recalibrating
Even before the COVID-19 outbreak was declared a pandemic, problems with testing plagued this country's response to the coronavirus.
During the early stages of the crisis, shortages of the sole federally approved diagnostic (which also had technical issues), tight rules restricting who qualified to be tested, and the lack of a centralized federal strategy all combined to mask the rapidly widening scale of the U.S. outbreak. It took almost two months before the Food and Drug Administration and the Centers for Disease Control were able to remedy some of those problems and private COVID-19 tests began to reach the American public.
From there, several companies helped lead the charge to make tests widely available, and their stocks skyrocketed as a result. Shares of OPKO Health (NASDAQ: OPK) and Quidel (NASDAQ: QDEL) benefited the most, up 217 % and 161% year to date, respectively. Shares of Hologic (NASDAQ: HOLX) , along with diagnostics leaders Quest Diagnostics (NYSE: DGX) and LabCorp (NYSE: LH) are also up in 2020, though more modestly.
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New Coronavirus Tests Have These Diagnostics Companies Recalibrating