FDA authorizes Abbott’s fast $5 COVID-19 test

The test returns results in 15 minutes. | Abbott Laboratories

A COVID-19 test that takes 15 minutes and can be run without lab equipment was just granted emergency use authorization by the Food and Drug Administration. It will cost $5, and runs on a simple card that uses the same technology as a pregnancy test.

The test, called BinaxNOW, is produced by the health care company Abbott. The company is also launching an app that syncs up with the tests, and gives people who test negative for the virus a “digital health pass” that they can display on their phone. CEO Robert Ford said in a statement that the combination of the test and the app offer a “comprehensive testing solution.”

The company said in a press release that it plans to produce 50 million tests per month by October.

“Due to its simpler…

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