Trump administration makes $750 million deal to buy 150 million of Abbott’s new coronavirus tests

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The Trump administration has struck a $750 million deal with Abbott Laboratories 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 higher Thursday. President Donald Trump is expected to talk up the deal at his speech on Thursday night at the Republican National Convention.
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