The retail tests give consumers another optionto get tested even as several states have convertedmass testing sites to mass-vaccination sites.Testing nationwide began decreasing last winteras state and local public health departments steered limited resources to vaccination, saidJennifer Nuzzo, a senior scholar at the Johns Hopkins Center for Health Security. Both tests deliver results in about 15 minutes and don’t require a lab. Abbott Laboratories’ BinaxNOW coronavirus self-test kits will be shipped to CVS Pharmacy, Walgreens and Walmart locations, and also will be sold online. These retail tests eliminate another barrier for people who want to test themselves without visiting a doctor or a telehealth provider. ![]() The two-test kit, which last monthreceived Food and Drug Administrationemergency-use authorization for serial screening, will cost $23.99, the company said.Īnother rapid test made by Australia-based Ellume will be sold at CVS stores in Rhode Island and Massachusetts for $38.99.It also can be purchased online or at mostCVS stores in other statesby the end of May. Those costs are expected to continue in the current quarter, but decline next year, CVS said.Įxcluding items, the company earned $1.97 per share in the third quarter, above estimates of $1.78, according to IBES data from Refinitiv.Abbott Laboratories’BinaxNOWcoronavirus self-test kits will be shipped toCVS Pharmacy, Walgreens and Walmart locations, and also will be soldonline. ![]() Find locations near you and schedule your appointment. "We are working very closely with the suppliers to make sure that we continue to buy inventory and get it into our stores," Chief Executive Karen Lynch said, adding that "we have a pretty good inventory."ĬVS reported a higher-than-expected medical benefit ratio of 85.8% due to COVID-19 treatment and testing costs. CVS Health is offering coronavirus testing (COVID-19) in Sacramento, CA, to qualifying patients. Rapid COVID-19 tests have been in short supply in the United States in recent months do to surging demand. "For retail, we expect that COVID-19 vaccine and testing volume, which is expected to generate over $3 billion of revenue in 2021, will decline significantly in 2022 to 30% to 40% of the volume we administered in 2021," Guertin said. Coronavirus: CVS To Open 44 Testing Sites Across Texas. However, that was offset by higher pharmacy sales, which have benefited from demand for COVID-19 vaccines and tests. Previous coverage: Coronavirus: Texas Sees Record 5K-Plus New Cases. ![]() ![]() The test delivers results in 15 minutes through a free app downloaded to a smartphone, without the need for a second test. "We believe that current analyst estimates for 2022 adjusted EPS of approximately $8.20 are within our anticipated initial guidance range," Chief Financial Officer Shawn Guertin told analysts on a conference call.ĬVS in August had hedged a bit on its long-term target for double digit earnings growth for 2022, pointing to uncertainty around medical costs and COVID-19 testing and vaccine demand.ĬVS's third-quarter profits were weighed down by higher medical costs in its Aetna insurance businesses due to the pandemic, CVS executives said on the call. The three testing options now available at CVS include: Ellume COVID-19 Home Test Kit 38.99 1: The first rapid, fully at-home test to receive Emergency Use Authorization by the FDA for at-home use without a prescription.
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