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News items for the in vitro diagnostics industry for the week of May 18, 2020.
Driven by increased demand for SARS-CoV-2 assays and a return of routine testing, the rise suggests that the industry could be moving toward a recovery.
The company said that it expects to use the funds for general corporate purposes including the repayment of existing senior notes due 2021.
A number of labs have said that not only are they able to fulfill all current PCR test requests, but that they are operating at below capacity for these tests.
Replacing nasopharyngeal swabs with saliva samples or nasal swabs could increase throughput and convenience, as well as relieve reagent and equipment shortages.
Last month, Quest Diagnostics received Emergency Use Authorization from the US Food and Drug Administration for its SARS-CoV-2 rRT PCR test.
Total revenues fell to $1.82 billion from $1.89 billion in Q1 2019 as the company saw test volumes drop significantly in the face of the COVID-19 pandemic.
Blueprint Genetics, recently acquired by Quest Diagnostics in January, will base the 600-gene panel on its whole-exome sequencing capability.
With clinical labs suffering large drops in volumes as patients stay away from draw centers, remote sampling could provide a way to offer routine testing.