Test Makers, Retailers Are Raking in Money from Direct-to-Consumer COVID-19 Diagnostics
There is no disguising the fact that COVID-19 testing has proven to be a windfall for laboratories and the diagnostics industry. And even though the massive testing revenues of the past year are not sustainable, there is still lots and lots of money to be made in COVID-19 in the next few years. Of course, the market has and will continue to evolve with direct-to-consumer offering perhaps the most favorable opportunities, at least in the near term. The most recent next big thing in the DTC space is do-it-yourself (DIY) at-home COVID-19 testing using over-the-counter (OTC) test kits that do not require a prescription. Three of the nation’s biggest retailers—CVS, Walgreens and Walmart—have gotten the early jump in the race to lead this emerging market. CVS Stakes Out Its Claim for OTC COVID-19 Testing CVS Health Corp. was one of the first companies out of the gate when it began selling OTC COVID-19 tests in mid-April. Initially available to residents of Rhode Island and Massachusetts for in-store purchase, CVS says that tests will be available in all CVS stores nationwide by the end of May. The CVS catalog currently includes three tests: Ellume COVID-19 Home Test (costing $30 per test); […]

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