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Merkel Staff

Roche Holdings Increases Share Value After FDA Approves Its Coronavirus Test

13 March 2020

The U.S. Food and Drug Administration’s (FDA’s) approval of the Roche Holding AG’s COVID-19 test has led to the company’s stock sky-rocketing.

According to CNBC the healthcare company recently saw its stock rise by as much as 11% after it received the FDA’s approval.

The automated tests created by Roche Holdings are said to be able to determine whether or not a patient has the coronavirus in approximately three and a half hours.

Fortunately, a majority of hospitals from around the world already own and utilize equipment from the Roche Holding AG.

To date this test would be the most efficient one available and would allow for hospitals to test millions of patients a day to ensure more detailed reports and statistics regarding coronavirus numbers.

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