Abbott Labs' New Coronavirus Diagnostic Will Reshape the Testing Market

Abbott Laboratories (NYSE:ABT) produces a handful of different diagnostic tests for the coronavirus, but that hasn't stopped it from working to innovate and create new ones. Late in August, Abbott announced its new BinaxNOW COVID-19 Antigen Card diagnostic, which promises to deliver results in 15 minutes for as little as $5 per test. Complete with a smartphone app that lets consumers show off their test results in real time, Abbott's new assay has already gotten the green light from regulatory authorities, so it's ready for sale.