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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Quidel Corporation    QDEL

QUIDEL CORPORATION

(QDEL)
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Nevada's ban on Quidel and Becton Dickinson COVID-19 tests violates law -HHS official

10/09/2020 | 02:43pm EST

Oct 9 (Reuters) - Nevada's recent ban on the use of Quidel Corp's Sofia and Becton Dickinson and Co's Veritor point-of-care antigen tests for COVID-19 in long-term care facilities violates federal law, a U.S. government official said on Friday.

Nevada's public health department last week issued a directive http://dpbh.nv.gov/uploadedFiles/dpbhnvgov/content/Resources/Directive%20to%20Discontinue%20Use%20of%20Antigen%20POC_10.02.2020_ADA_Compliant.pdf requiring skilled nursing facilities in the state to immediately discontinue use of all COVID-19 point-of-care antigen tests until their accuracy can be better evaluated. The directive specifically cited the Quidel and Becton tests.

Point-of-care tests are administered on site and do not need to be shipped to a lab for results.

An official of the U.S. Department of Health and Human Services (HHS) on Friday said the directive was a violation of federal law and put lives at risk, adding that any accuracy problems with the tests are offset by the public health benefits of the rapid results they provide. HHS issued a letter on Thursday ordering Nevada to retract the directive.

"The letter from Nevada officials can only be interpreted as reflecting a fundamental lack of basic knowledge about testing and interpreting results," Admiral Brett Giroir, assistant secretary for health at the Department of Health and Human Services, said in a press briefing.

Nevada officials did not immediately respond to requests for comment.

The letter sent to Nevada said the ban violated a federal law that preempts a state or local prohibition on the use of COVID-19 tests authorized by the Food and Drug Administration to individuals at "congregate facilities."

Giroir declined to comment on how HHS would compel Nevada to comply if Nevada refused to retract the directive.

He said Nevada's directive does not apply to BinaxNOW rapid antigen tests produced by Abbott Laboratories. The Trump administration in August said it would purchase and deploy 150 million Abbott rapid tests around the country to assist in school reopenings and other essential tasks.

"This week we distributed about 6.3 million of additional BinaxNOW tests. Just under 5 million went to states, with the prioritization we requested for K-12 openings but also other infrastructure," Giroir said during the Friday press call.

Becton Dickinson defended its test. The company "has full confidence in our Veritor Plus system, and based on the information in the directive, we believe the test is performing as intended in Nevada," Dave Hickey, president of integrated diagnostic solutions at Becton Dickinson, said in a statement. (Reporting by Carl O'Donnell in New York and Manojna Maddipatla in Bengaluru; Editing by Leslie Adler)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ABBOTT LABORATORIES -1.12% 106.41 Delayed Quote.22.51%
ADMIRAL GROUP PLC -0.78% 2801 Delayed Quote.22.26%
BECTON, DICKINSON AND COMPANY -0.79% 227.47 Delayed Quote.-16.36%
QUIDEL CORPORATION 3.62% 180.76 Delayed Quote.140.92%
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Financials (USD)
Sales 2020 1 657 M - -
Net income 2020 773 M - -
Net cash 2020 150 M - -
P/E ratio 2020 10,2x
Yield 2020 -
Capitalization 7 604 M 7 604 M -
EV / Sales 2020 4,50x
EV / Sales 2021 1,75x
Nbr of Employees 1 250
Free-Float 88,2%
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Number of Analysts 5
Average target price 302,00 $
Last Close Price 180,76 $
Spread / Highest target 105%
Spread / Average Target 67,1%
Spread / Lowest Target -3,19%
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Douglas C. Bryant President, Chief Executive Officer & Director
Kenneth F. Buechler Chairman
Robert Joseph Bujarski Chief Operating Officer
Randall J. Steward Chief Financial Officer
Werner Kroll Senior Vice President-Research & Development
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