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Get used to it. Testing is here to stay

Bloomberg

Here's the latest news from the global pandemic.

Covid testing is here to stay

In a year filled with economic pain for most businesses, laboratories and test manufacturers stood out as a clear exception. An almost insatiable demand for virus testing boosted their revenue and share prices.

As vaccines are rolled out, though, that picture is starting to change. One illustrative moment came late last week, when Laboratory Corp of America Holdings—one of the biggest U.S. processors of Covid-19 tests—said revenue for that business could drop by as much as 50% this year. But CEO Adam Schechter also suggested there could be opportunities ahead, saying "it's just too hard to know right now."

That's an industrywide sentiment. Testing needs are expected to ease as more people become vaccinated in the coming months. But because that depends greatly on factors like the pace of immunization, the durability of shots and the extent of more contagious variants, much is also uncertain.

A health worker collects a swab from a person at a Covid-19 test site set in New Delhi. 

Photographer: T. Narayan/Bloomberg

Advocates like Harvard epidemiologist Michael Mina, meanwhile, say now is the time to keep building out testing infrastructure. Mina is lobbying for the federal government to invest $20 billion in ramping up supply of low-cost, easy-to-manufacture rapid tests, so people can screen themselves frequently at home for Covid-19. On Wednesday, the Biden administration announced a $1.6 billion investment into expanding test supply and increasing testing at schools.

No matter how things pan out, there's an expectation that Covid testing is here to stay. When people present with telltale symptoms, it will probably be included in panels for a range of respiratory viruses. Testing could also play a long-term role in higher-risk situations like eating indoors, going on a cruise and attending large event venues. It's a window into how life might look on the other side of the pandemic.—Emma Court

Latest podcast

Fixing Vaccine Inequity

 Angelica LaVito reports how one Boston health system is also confronting another major problem in vaccine distribution: a long history of racial inequity in the U.S. healthcare system. Get the episode here

 

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Investors grow more willing to put capital toward public health issues.

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