This is Why the World Needs More Coronavirus Testing Kits Now

July 06, 2020 - Baystreet.ca


When it comes to the coronavirus, the world isn’t out of the woods – not by a long shot.

After all, with more than 11 million confirmed cases now on the books, with more than 500,000 unfortunate deaths, the coronavirus is still a massive threat.

Across the U.S., there’s a fresh round of new cases that could force the economy to close up shop again. Coronavirus hospitalizations are exploding in Alaska, Arkansas, Kentucky, Mississippi, North Carolina, Oregon, South Carolina, and Utah, too. In Phoenix, Mayor Kate Gallego says, “We opened too much too early and so our hospitals are really struggling.”

Even experts at Johns Hopkins University are warning of another severe breakout, especially with recent riots and protests, state reopening, and a good number of people failing to socially distance themselves. Worse, tests are in short supply with Quest Diagnostics and LabCorp both saying their capacity is under strain with new outbreaks.

In fact, according to Quest, as quoted by ABC News, “Demand for COVID-19 molecular diagnostic testing reaches unprecedented levels, extending turnaround times." As the situation worsens, the world will need millions of test kits creating opportunity for companies such as Datametrex AI Limited (TSXV:DM)(OTC:DTMXF), Laboratory Corp. of America Holdings (NYSE:LH), Abbott Laboratories (NYSE:ABT), Quest Diagnostics Inc. (NYSE:DGX), and Chembio Diagnostics Inc. (NASDAQ:CEMI).

Datametrex AI Limited (TSXV:DM)(OTC:DTMXF)BREAKING NEWS: Datametrex AI Limited announced a purchase order of 20,000 COVID-19 test kits from a Canadian based mining company with operations worldwide. This PO is for one of their Latin American mine operations. The total gross sales amount is approximately $850,000 CDN, excluding shipping and courier fees. The Company has secured all requested testing kits, swabs, tubes, and the PCR machines. All of the items will be delivered directly to the mining company at their operating site in Latin America in mid-July. The Company anticipates little or no upfront costs associated with the sale of these kits.

"Datametrex is assisting with the implementing of test kits as it is a fundamental response to the pandemic, and those mining companies that have been able to test more comprehensively have had greater success," says Marshall Gunter, CEO of the Company. "The reasoning is simple: An individual who tests positive can be isolated until they recover, and their contacts may be traced and similarly tested and isolated, effectively reducing the rate of transmission."

Under the terms of the PO, Datametrex will provide the Purchaser with 20,000 units of the COVID-19 qPCR Detection Kits manufactured by 1drop Inc., 20,000 Universal Transport Medium (UTM®), Sterile Swabs with 16x100mm and Skirted Tubes. The Company also sold two (2) Real-Time Polymerase Chain Reaction Detection System machines along with software to ensure optimal assay performance of the samples.

Some Latin American countries are seeing shocking unemployment figures as the pandemic has caused hunger to rise in the region. The fallout from the pandemic is being felt hardest in Latin America, and has seen an almost three-fold rise in the number of people requiring government assistance, and among urban communities in low and middle-income countries, which are being dragged into destitution by job losses, especially in the mining sector. Millions of people are out of work in Brazil, Chile and Colombia, which have all attempted to re-open sectors of their economies but were hit with fast-spreading infections.

Other related developments from around the markets include:

Laboratory Corp. of America Holdings (NYSE:LH) announced that Covance, its drug development business, has deployed the Xcellerate® COVID-19 solution as part of its award-winning Xcellerate platform. Covance has developed a comprehensive approach to reinitiate ongoing research and start up new studies, with a focus on patient safety and study delivery. Designed in conjunction with Covance’s COVID-19 Operational Recovery Team, the Xcellerate® COVID-19 solution offers integrated data collection, actionable views of critical study data, COVID-19 targeted risk management and recovery assessment. Global clinical research has been disrupted by the COVID-19 pandemic. Specific impacts include studies being halted or paused and enrollment being delayed. Many clinical research sites around the world have restricted all but essential visits except for patient safety, with study monitoring conducted remotely where possible. As healthcare conditions improve globally, research sites are positioned to resume studies.

Abbott Laboratories (NYSE:ABT) announced that the U.S. Food and Drug Administration (FDA) has approved the company's next-generation Gallant™ implantable cardioverter defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices. The devices bring new benefits to patients with heart rhythm disorders, including a patient-preferred design without compromising battery longevity and MRI compatibility. In addition, the new devices offer Bluetooth technology and a new patient smartphone app for improved remote monitoring, allowing for increased patient/physician engagement and streamlined communications. It is estimated that as many as 6.1 million people in the United States battle cardiac arrhythmias, or abnormal heart rhythms,1 and ICDs are used to help reduce the risks of life-threatening arrhythmias. For patients with heart failure or in situations when the heart's chambers beat out of sync, CRT-Ds can be used to restore the heart's natural pattern of beating.

Quest Diagnostics Inc. (NYSE:DGX) marks its 10-year anniversary as a CEO Cancer Gold Standard™ employer this year, signifying its commitment to implementing employee health strategies that will reduce cancer risk among its workforce. The CEO Cancer Gold Standard is the employer-led health and wellness accreditation program of the CEO Roundtable on Cancer, a nonprofit organization whose corporate members collaborate on initiatives to eliminate cancer as a personal disease and public health problem. "Our goal at Quest Diagnostics is to create a healthier world, and that begins with the physical and mental health of our 47,000 employees," said Steve Rusckowski, Chairman, CEO and President. "Employee health strategy that fosters healthy behavior, regular screening and personalized treatment can go a long way in lowering risks and improving outcomes from cancer and many other diseases. As we mark 10 years as a Gold Standard employer, we remain committed to doing our part to promote a cancer-free world."

Chembio Diagnostics Inc. (NASDAQ:CEMI) announced today that it will issue, after the U.S. financial markets close on Monday, July 6, 2020, press releases with respect to its current plans for COVID-19 product development and regulatory approvals and its preliminary estimates of revenue results for the quarter ended June 30, 2020. Chembio will host a conference call on Tuesday, July 7, 2020, at 8:00 am (Eastern time)to discuss the information described in those press releases and related business and financial matters.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media and Datametrex AI Limited, Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Datametrex AI Limited. We own ZERO shares of Datametrex AI Limited. Please click here for full disclaimer.

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