China’s Mass COVID Testing: Players And Profits Behind The Policy
New Billionaires Created
Even at $2.40 per test, tens of millions of tests provided add up quickly to deplete China’s medical insurance pool. Now the government wants localities to step and pay.
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Biden Pledges A Billion COVID-19 Tests, Announces Plan Requiring Private Insurers To Pay For At-Home Diagnostics
The Biden administration announced on 13 January that it’s purchasing an additional 500 million COVID-19 tests to be distributed free to any American wanting one, bringing the total to 1 billion tests procured.
After criticism it was being too lax in overseeing COVID-19 antibody tests coming to market, the US agency issued an updated guidance earlier this month tightening regulations. As a result, it has now pulled more than two dozen tests that don’t meet its standards – and more are expected to follow.
Several Chinese biotech developments during the Lunar New Year break have put investors on high alert, namely the continued share price slide of Chinese biotech bellwether WuXi Apptec, Lianbio ceasing operations and I-Mab divesting its China business to become a fully US-focused company.