The Trump administration has struck a $750 million deal with Abbott Laboratories (ABT) to buy 150 million of the company's new rapid-response COVID-19 antigen tests. The Food and Drug Administration on Wednesday granted emergency-use authorization ( ) to Abbott for the tests, and the company's stock has been trading sharply highe ( Thursday. President Donald Trump is expected to talk up the deal at his speech on Thursday night ( ) at the Republican National Convention.
-Victor Reklaitis; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
August 27, 2020 14:07 ET (18:07 GMT)
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