LabCorp CEO Adam Schechter told CNBC on Tuesday that the coronavirus is spreading faster in the U.S. than the company can expand testing capacity, leading to slower turnaround time for results. “We need all states to ensure we’re doing everything we can to better control the virus. If we can do that, then we’ll be able to have the tests that we need,” Schechter said on “Closing Bell.” LabCorp is currently processing about 165,000 tests for Covid-19 per day, translating to more than 1 million per week, he said. In late March during the early stages of the pandemic, LabCorp was running about 20,000 tests per day. “We’re continuing to increase capacity every single week over week,” he said. “The problem is that the number of tests being asked to be performed each week is growing faster than the capacity that we can build.”
Source: LabCorp CEO: Coronavirus is spreading faster than testing expansion
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