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In the beginning, offering at-home tests looked like a growing company. Abbott, for instance, started offering lab-based fast tests early in 2020but its sales took off in the 4th quarter of 2020, when the FDA authorized Abbott's Binax, Now test for at-home use. The company offered $1. 4 billion worth of quick tests that quarter, and CEO Robert Ford told investors on a Jan.
10, 2021, the US Centers for Disease Control and Avoidance (CDC) upgraded its standards to state that immunized individuals no longer required to get checked after being exposed to covid. Demand for tests plunged. This Is Cool slumped. By July, the company had actually shut down one of the factories where it had actually produced at-home tests, laid off thousands of employees, and directed its remaining employees to damage 8.
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(Abbott stated in a statement that it did destroy test components, however they were going to end anyway.)Thanks to the delta and omicron waves, need for at-home tests has actually surged again. In July, the CDC reversed itself and once again recommended that immunized individuals get tested after direct exposure to covid, even if they don't reveal signs.
Like Abbott, other makes have actually also been whipsawed by rapid swings in need for at-home tests. Across the market, increasing production will take weeks or months, as test makers race to employ more employees, order raw materials, and agreement out product packaging, manufacturing, and other functions. The US federal government's plan to buy 500 million at-home tests guarantees to smooth out some of the unpredictability in need: No matter what the CDC states and no matter how the infection mutates, makers understand they can offer countless tests to the federal government, at least for the next couple of months.
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To assist speed up production