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BD Launches New Test to Help Combat the Coronavirus Outbreak
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Becton, Dickinson and Company (BDX - Free Report) , also known as BD, recently collaborated with BioMedomics to launch a new point-of-care test that can detect antibodies in blood to confirm current or past exposure to coronavirus within 15 minutes. This test is another addition to the long line of diagnostic tools for the coronavirus, which can be utilized in community health settings such as urgent care clinics, thereby limiting the exposure between patients and healthcare workers.
It is important to note here that this new test, which has been developed and manufactured by BioMedomics, will be available through BD. Henry Schein, Inc. (HSIC - Free Report) will exclusively distribute this test to health care providers across the United States.
Notably, BD’s Lifesciences segment is likely to receive a boost with the introduction of this test.
Significance of BD’s New Test During COVID-19 Crisis
This innovative new test is simple and can be done in a laboratory or at the point of care without the requirement of any special equipment. The test identifies antibodies in the blood that the body produces in response to coronavirus infection. Typically, these antibodies are found in the middle to later stages of COVID-19 infection but might be still present after exposure. Therefore, the test is likely to help clinicians in confirming the people who have been exposed to the virus despite being asymptomatic.
Moreover, the test is likely to aid clinicians in detecting those who have developed antibodies, which might help in planning future strategies to combat COVID-19.
The test has not been reviewed by the FDA but it has been permitted for distribution and use under the public health emergency guidance issued by the federal agency on Mar 16, 2020. BD will commence distribution in April and will be capable of producing more than one million tests in the coming months and can scale up further if necessary.
Coronavirus Outbreak and Impact
Coronavirus, which was first detected in central China in December, has turned into a full-blown pandemic, and its panoptic impact has left most of the world rattled and shocked. In fact, more than 185,200 people across the United States have been infected with the novel coronavirus, with more than 3,800 losing their lives.
Amid this crisis, some key players have made significant progress with regard to testing in order to check the spread of the pandemic.
One of those key players, PerkinElmer, Inc. , recently announced that it has received Emergency Use Authorization (EUA) from the FDA for its New Coronavirus RT-PCR test. Clinical laboratories that are certified under Clinical Laboratory Improvement Amendments (CLIA) can start utilizing this test kit to detect SARS-CoV-2 (virus causing COVID-19) immediately.
Notably, this test is marketed as an in-vitro diagnostic (IVD) device on basis of fulfilling the requirements of European In Vitro Diagnostic Directive (IVDD). The test kit is now available in over 30 countries worldwide.
Market Prospects
Per a report published on Grand View Research, the global point of care diagnostics market is expected to reach $24.1 billion by 2027, witnessing a CAGR of 3.2%. Factors like continued advancement in the development of highly sensitive and specific miniatuarized biosensors, on the basis of microfluidic systems together with handheld devices, is likely to drive the market.
Price Performance
Over the past year, shares of this Zacks Rank #4 (Sell) company have lost 8.3% compared with the industry’s decline of 21.6%.
Cooper Companies has a projected long-term earnings growth rate of 10.8%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
Image: Bigstock
BD Launches New Test to Help Combat the Coronavirus Outbreak
Becton, Dickinson and Company (BDX - Free Report) , also known as BD, recently collaborated with BioMedomics to launch a new point-of-care test that can detect antibodies in blood to confirm current or past exposure to coronavirus within 15 minutes. This test is another addition to the long line of diagnostic tools for the coronavirus, which can be utilized in community health settings such as urgent care clinics, thereby limiting the exposure between patients and healthcare workers.
It is important to note here that this new test, which has been developed and manufactured by BioMedomics, will be available through BD. Henry Schein, Inc. (HSIC - Free Report) will exclusively distribute this test to health care providers across the United States.
Notably, BD’s Lifesciences segment is likely to receive a boost with the introduction of this test.
Significance of BD’s New Test During COVID-19 Crisis
This innovative new test is simple and can be done in a laboratory or at the point of care without the requirement of any special equipment. The test identifies antibodies in the blood that the body produces in response to coronavirus infection. Typically, these antibodies are found in the middle to later stages of COVID-19 infection but might be still present after exposure. Therefore, the test is likely to help clinicians in confirming the people who have been exposed to the virus despite being asymptomatic.
Moreover, the test is likely to aid clinicians in detecting those who have developed antibodies, which might help in planning future strategies to combat COVID-19.
The test has not been reviewed by the FDA but it has been permitted for distribution and use under the public health emergency guidance issued by the federal agency on Mar 16, 2020. BD will commence distribution in April and will be capable of producing more than one million tests in the coming months and can scale up further if necessary.
Coronavirus Outbreak and Impact
Coronavirus, which was first detected in central China in December, has turned into a full-blown pandemic, and its panoptic impact has left most of the world rattled and shocked. In fact, more than 185,200 people across the United States have been infected with the novel coronavirus, with more than 3,800 losing their lives.
Amid this crisis, some key players have made significant progress with regard to testing in order to check the spread of the pandemic.
One of those key players, PerkinElmer, Inc. , recently announced that it has received Emergency Use Authorization (EUA) from the FDA for its New Coronavirus RT-PCR test. Clinical laboratories that are certified under Clinical Laboratory Improvement Amendments (CLIA) can start utilizing this test kit to detect SARS-CoV-2 (virus causing COVID-19) immediately.
Notably, this test is marketed as an in-vitro diagnostic (IVD) device on basis of fulfilling the requirements of European In Vitro Diagnostic Directive (IVDD). The test kit is now available in over 30 countries worldwide.
Market Prospects
Per a report published on Grand View Research, the global point of care diagnostics market is expected to reach $24.1 billion by 2027, witnessing a CAGR of 3.2%. Factors like continued advancement in the development of highly sensitive and specific miniatuarized biosensors, on the basis of microfluidic systems together with handheld devices, is likely to drive the market.
Price Performance
Over the past year, shares of this Zacks Rank #4 (Sell) company have lost 8.3% compared with the industry’s decline of 21.6%.
A Key Pick
A better-ranked stock from the broader medical space is The Cooper Companies, Inc. (COO - Free Report) , which currently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cooper Companies has a projected long-term earnings growth rate of 10.8%.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>