JUST IN: President Trump is set to announce a $750 million deal with Abbott to purchase 150 million rapid Covid-19 tests.
Trump plans to use his speech at the Republican National Convention to announce the deal, the official said.
"Under President Trump's leadership, the U.S. is leading the world in testing," White House communications director Alyssa Farah said in a statement to NBC News. "This is a major development that will help our country to remain open, get Americans back to work, and kids back to school. The Trump Administration is proud to partner with Abbott labs to make this purchase possible to help the American people.
The Food and Drug Administration granted emergency use approval late Wednesday to Abbott for its new coronavirus antigen test, which is the first Covid-19 test that it says costs about $5 and delivers results in minutes on a testing card without lab equipment, similar to a pregnancy test.Representatives of the White House and Abbott Labs did not immediately return CNBC's request for comment.
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