Trump set to announce purchase of 150M rapid coronavirus tests

Trump will announce that the administration has struck a $750 million deal to acquire 150 million tests from Abbott Laboratories, which the individuals said are set to be deployed in nursing homes, schools and other areas with populations at high risk.

Abbott received an emergency authorization from the FDA on Wednesday for the rapid test, which costs $5 and can produce results in 15 minutes without the use of any lab equipment. Abbott has said that it will be able to produce about 50 million tests per month by October.

The move would represent a significant expansion of the nation’s coronavirus testing, which has experienced frequent bottlenecks in recent months that prevented rapid turnaround of test results. The United States has tested about 22 million people in the last month.