Coronavirus testing not needed for every American: LabCorp CEO
LabCorp is one of several medical companies working closely with the Trump administration
Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here.
Coronavirus testing is not needed for every American, LabCorp president and CEO Adam Schechter said Tuesday.
"I do not believe that all Americans need to be tested right now," Schechter told "Mornings with Maria." "I believe anybody that's ill or has been around somebody that's ill should be tested. ... I don't think that everybody needs to be tested because most of the testing is just at one moment in time."
NOVAVAX STARTS PHASE 1 CORONAVIRUS VACCINE TRIAL AFTER $388M FROM BILL GATES-BACKED GROUP
LabCorp has conducted over 2.2 million PCR tests for coronavirus and plans to scale up to 150,000 tests a day by mid-June, Schechter said. The company has also conducted about 750,000 serology tests, which identify whether a patient has had the disease by checking for antibodies in the blood.
"I believe we have the testing as we move forward that we need," he said. "It's not just testing that's going to be important. Until we have a vaccine, we're going to continue to have social distancing in the workplace."
Adam Schechter, president and CEO of LabCorp, speaks about the coronavirus in the Rose Garden of the White House, April 27, 2020, in Washington, as President Trump and Stephen Rusckowski, CEO of Quest Diagnostics. listen. (AP Photo/Alex Brandon)
Researchers are not likely to develop a vaccine by the end of 2020, Schechter said. His company is working with pharmaceutical and biotech companies on coronavirus treatments and vaccines.
WHERE AMERICANS ARE SPENDING AND SAVING MONEY IN CORONAVIRUS PANDEMIC
"That would be very aggressive and unprecedented," he said. "I believe it will probably take longer than, that but I am encouraged by the fact that people are building manufacturing sites while they also study the vaccine."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| LH | LABORATORY CORP. OF AMERICA HOLDINGS | 203.32 | -2.41 | -1.17% |
The FDA gave emergency authorization to LabCorp's at-home novel coronavirus test kit, the first of its kind, in April.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The self-administered test kit, which does not require a clinician, was first offered only to health care workers and first responders who may have been exposed to the virus or have virus symptoms.
LabCorp is one of several science and medical companies working closely with the Trump administration to create and distribute COVID-19 tests.