Quest Diagnostics Inc logo

DGX - Quest Diagnostics Inc News Story

$120.44 -0.8  -0.7%

Last Trade - 8:35pm

Sector
Healthcare
Size
Large Cap
Market Cap £12.46bn
Enterprise Value £15.30bn
Revenue £5.76bn
Position in Universe 537th / 6400

BUZZ-Quest, LabCorp: COVID-19 reimbursement, updated FDA guidelines a positive - Mizuho

Wed 20th May, 2020 5:45pm
** Mizuho Securities says two recent developments regarding
COVID-19 antibody testing will prove positive for clinical labs
Quest Diagnostics  DGX.N  and Laboratory Corporation of America
Holdings  LH.N 
    ** Centers for Medicare & Medicaid Services late on Tuesday
announced two sets of reimbursement rates for COVID-19 tests,
which were in-line with what DGX mentioned on its recent
earnings call
    ** Brokerage assumes 2020 and 2021 reimbursement rates of
$31 and $20 per test respectively, for both DGX and LH
    ** U.S. FDA plans on naming COVID-19 serology tests from
companies not applying for emergency use approval; health
insurers seek to reimburse only those tests that meet FDA
standards - Mizuho, citing press reports
    ** This move will help DGX and LH gain market share, given
these companies are using higher-quality vendors for testing
that boasts +98.5% specificity - Mizuho
    ** DGX also reports collaboration with managed-care
companies Arkansas Health & Wellness and Arkansas Total Care,
which will facilitate distribution of ~1,000 Quest COVID-19 test
kits each week to Community Health Centers of Arkansas
 urn:newsml:reuters.com:*:nPn9dHbVJa
    ** DGX shares up ~4.6% at $115.32; LH rises 2.3% to$170.96
    

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.