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.
The latest mega deals aimed at bringing Chinese innovation to the US have rekindled go-global hopes for a sector badly needing some cheer. But some investors say out-licensing may be the best route and that Chinese biotech must scale back its do-all mentality and focus on what it does best amid a new reality.