Abbott Laboratories (ABT)

[DewDiligence]

ABT’s COVID-19 test approved by FDA:

https://finance.yahoo.com/news/abbott-receives-fda-emergency-authorization-220000633.html

As a leader in diagnostics testing, Abbott is working to do its part to combat this global pandemic. Across the U.S., more than 175 m2000 systems are used in hospital and reference laboratories. The systems have the ability to run high volumes of up to 470 tests in 24 hours, helping to meet the increasing demand for testing. Many of these instruments are used in university and community hospitals where patients come for care, resulting in testing that happens closer to the patient rather than sending it to an offsite lab.

Abbott is immediately distributing 150,000 tests and will continue ramping up production to the highest levels possible, with the goal of providing up to 1 million tests per week. Abbott is manufacturing these tests in the U.S.