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Trump to unveil $750M deal with Abbot Labs for tests: Report

President Trump is set to announce the purchase of 150 million rapid coronavirus tests. Yahoo Finance's Julie Hyman breaks it down.

Video Transcript

JULIE HYMAN: Breaking news. Now, it's a headline from Politico that President Trump is going to unveil a $750 million deal with Abbott Labs for those new rapid tests that were announced. Remember, the FDA has just given an emergency use authorization to Abbott. They're $5 tests. They are rapid tests for antigens for the coronavirus. Those Abbott shares have already been up throughout the day on that FDA announcement. Right now, they're rising by 7.6% as we see this latest headline about the government potentially buying those tests.