COVID-19 test providers reap profits as consumers pay through the nose
CBSN
Makers of COVID-19 testing tools are raking in billions while many consumers pay through the nose to find out if they are infected.
Over-the-counter rapid tests have been pricey since they first became available in the U.S., with major retailers like Kroger and Walmart recently hiking the price tag for kits even as manufacturers ramp up production to meet a surge in demand driven by the Omicron variant.
That's in part because of the expiration last month of a deal struck by the White House with select retailers to sell test kits at-cost for 100 days, prompting distributors to hike prices on Abbott's BInaxNow test to roughly $12 a test. Quidel's QuickVue rapid test and others retail for roughly the same pice.
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