Yahoo Finance’s On the Move panel discuss Becton Dickinson’s 15-minute COVID-19 test being cleared in Europe.
JULIE HYMAN: Becton Dickinson developed a 15-minute COVID test that just got approval in Europe. And there's been two questions about accuracy of these rapid tests. Where does this one stand on that front? And how significant is this approval?
- So what I would compare it to is we heard earlier this week about a rapid test from Abbott, that 15-minute antigen test. And Becton Dickinson's test is similar. And it is already available here. This news is that it's now available in Europe, which is sort of a new player there.
So what these tests do is they add to the availability of testing capacity in the country. When we're looking at the PCR test that we've become so familiar with, those nasal swabs that feel very painful to have, those were the ones that have been largely used to confirm coronavirus patients. And so these are sort of a step back and can be more widely used.
We know that the burden on labs from these PCR tests is so great that if every single person got one of them, it would be-- it has continued to burden this system. And so what these antigen tests do is allow on-the-spot sort of positive confirmation. But negative ones-- going back to the point that not all these are so accurate, negative ones do still need to be confirmed by a PCR test if there's suspicion that the person does have COVID. So that kind of lays out, I think, to your question about, you know, what we're looking at when it comes to the significance of having more tests like this. And the FDA has been vocal about saying that a broad variety of tests is really needed, including this, to help with the response.