Roche Holding News: RHHBY Stock Jumps 8% on Faster Coronavirus Test

Roche Holding (OTCMKTS:RHHBY) news for Friday includes an update on testing for the coronavirus from China.

Roche Holding News: RHHBY Stock Jumps 8% on Faster Coronavirus Test


A Roche Holding news release reveals that the company has Emergency Use Authorization from the U.S. Food and Drug Administration for its coronavirus test. This test works with RHHBY’s cobas 6800 and cobas 8800 systems.

The Roche Holding news release notes that its testing systems are available at many locations around the U.S. Due to this, the company says it should be able to perform millions of tests a month for the new coronavirus.

Roche Holding also points out that its machines are able to quickly provide results from tets. It takes about three and a half hours for a test to reach completion. The systems can put out roughly 96 results within a three-hour period.

Thomas Schinecker, Chief Executive Officer of Roche Diagnostics, said this about the RHHBY stock news.

“Over the last weeks, our emergency response teams have been working hard to bring this test to the patients. CE-mark certification and the FDA’s granting of EUA supports our commitment to give more patients access to reliable diagnostics which are crucial to combat this serious disease.”

Roche Holding isn’t the only company moving forward with coronavirus testing. OPKO Health (NASDAQ:OPK) also announced today that it is starting testing for the virus and is working with the New York State Department of Health.

RHHBY stock was up 7.68% as of Friday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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