• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant

1

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
HealthCoronavirus

COVID test makers set to make $4 billion in U.S. government work

By
Kristen V. Brown
Kristen V. Brown
,
Paul Murphy
Paul Murphy
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Kristen V. Brown
Kristen V. Brown
,
Paul Murphy
Paul Murphy
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
January 21, 2022, 9:50 AM ET
Add Fortune on Google for similar content.

President Joe Biden’s promise to provide one billion free rapid COVID-19 tests to Americans is set to be a boon for test makers, as the highly contagious Omicron variant has left pharmacies and clinics scrambling to find supplies.

The U.S. government has committed to spend at least $4.2 billion to develop, manufacture and produce rapid antigen tests since the start of the global pandemic in March 2020, according to a review of Bloomberg Government’s contracts database.

And that’s before fulfilling Biden’s latest free-test pledge. Supplying the first 500 million tests alone will cost the government $4 billion, a senior Biden administration official told reporters last week.

Abbott Laboratories, maker of the popular BinaxNOW over-the-counter test, is in line to receive more than half the government’s total outlay on rapid COVID screening, with some $2.2 billion in commitments. The test maker has been rushing to ramp up production amid the latest wave of the virus after initially shuttering one of its factories and scaling back production as U.S. cases waned before the Delta variant hit.

Abbott was not the only testing company to slow or stop production in the aftermath of guidance from the Centers for Disease Control and Prevention last spring that suggested vaccinated people no longer needed to take tests. The scaled-back manufacturing, along with skyrocketing case numbers, supply-chain issues and labor shortages, have conspired to constrain supplies.

The government began taking orders for free tests on Tuesday though it hasn’t finalized which manufacturers will supply them. Abbott is set to supply $306 million worth of tests to support Biden’s one billion test pledge. But it’s unclear how quickly the company will be able to deliver them.

iHealth Labs, a unit of the Chinese company Andon Health Co. Ltd., also inked a $1.3 billion deal to provide COVID-19 tests for Biden’s free at-home testing program. That test was among several that received authorization from the Food and Drug Administration just last month. The U.S. has still only authorized a small fraction of the tests that have been cleared in Europe.

Other test makers that have significant government contracts include Quidel Corp., which has been awarded at least $636 million for its antigen test kits, and OraSure Technologies Inc., which has so far signed $554.6 million worth of contracts to supply tests and conduct studies, according to the database.

In total, the U.S government has issued contracts to at least 60 test makers since the onset of the pandemic. Those contracts include more than $33 million alloted to Ellume. Last fall, Ellume recalled at-home tests distributed between April and August after reports of higher-than-expected numbers of false positive results, which are often the result of a test being contaminated with the virus at some point during production.

—With assistance from Courtney Rozen, Shira Stein and Allison Reed.

Never miss a story: Follow your favorite topics and authors to get a personalized email with the journalism that matters most to you.

About the Authors
By Kristen V. Brown
See full bioRight Arrow Button Icon
By Paul Murphy
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Health

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Health

Peter Rahal speaks on stage in front of a black and purple background.
RetailFood and drink
David Protein CEO says ‘diet trends are over’ because of GLP-1s: ‘What’s next is really hard to predict’
By Sasha RogelbergJune 28, 2026
3 hours ago
3 million Americans have dropped Obamacare health coverage over past year, after Republicans let federal subsidies expire
HealthHealth Insurance
3 million Americans have dropped Obamacare health coverage over past year, after Republicans let federal subsidies expire
By Ali Swenson and The Associated PressJune 27, 2026
19 hours ago
g
EuropeGermany
It’s so hot in Germany the Autobahn literally burst open at the seams and had to be closed down
By Kirsten Grieshaber, Sylvia Hui, John Leicester and The Associated PressJune 27, 2026
1 day ago
Best Beef Organ Supplements (2026): Expert Tested and Reviewed
HealthDietary Supplements
Best Beef Organ Supplements (2026): Expert Tested and Reviewed
By Emily PharesJune 26, 2026
2 days ago
Yes, Europe’s heat waves are deadlier than American gun violence
EnvironmentEurope
Yes, Europe’s heat waves are deadlier than American gun violence
By Catherina GioinoJune 26, 2026
2 days ago
Best Walking Pads of 2026: Walk While You Work
HealthDietary Supplements
Best Walking Pads of 2026: Walk While You Work
By Emily PharesJune 26, 2026
2 days ago

Most Popular

Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
1 day ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
3 days ago
The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
AI
The 33-year-old executive Satya Nadella is trusting to fix Microsoft’s Copilot AI assistant
By Sebastian HerreraJune 27, 2026
1 day ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
4 days ago
The end of Putin’s regime will spring from war spending chaos, former central bank advisor says, amid military mutiny threat and fuel-shortage brawls
Europe
The end of Putin’s regime will spring from war spending chaos, former central bank advisor says, amid military mutiny threat and fuel-shortage brawls
By Jason MaJune 27, 2026
21 hours ago
The contrarian view for Fed rate cuts: Payrolls will weaken, inflation will plunge, and Kevin Warsh was 'largely performative' in his hawkishness
Economy
The contrarian view for Fed rate cuts: Payrolls will weaken, inflation will plunge, and Kevin Warsh was 'largely performative' in his hawkishness
By Jason MaJune 27, 2026
17 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.