Quest Diagnostics Incorporated (NYSE: DGX) has signed a contract with CDC to give genomic sequencing to recognize new mutations in and patterns of transmission of SARS-CoV-2. The diagnostic and research firm has joined hands with the CDC to provide its assistance in researching on a massive scale.
The firm is planning to conduct this genomic survey of SARS-CoV-2 using the sample gathered from the labs of Quest across the US. The firm will execute the sequencing process in its innovative diagnostics laboratory in San Juan Capistrano, Calif. Viruses can mutate over time.
Currently, it has been revealed that the new variant of the SARS-CoV-2 virus has been discovered in the UK, US, and South Africa. The main aim of the CDC is to get information using the sophisticated techniques of DGX. The new survey in coordination with Quest Diagnostic would provide valuable information to the public which helps them in their fight against COVID-19.
Shares of Quest Diagnostics Incorporated (NYSE: DGX) went down 0.46% during the last trading session of Friday. The firm’s share has fluctuated between the 52-weeks low and high range of $73.02 and $131.81, respectively. Its share has moved up 70.35% from its 52-weeks low and moved down to -5.63% from its 52-weeks high. This firm market capitalization has remained high, reaching $16.84 billion at the time of writing.
This collaboration is the beginning of the new era of coordination between Quest Diagnostics and the CDC. Earlier, the firm has joined forces with CDC to help in various health initiatives. Quest Diagnostic has continued its struggle to help the public lead healthier lives and became a leader in the fight against novel coronavirus.
Under the terms of the contract, Quest Diagnostics will sequence the viral genomes of random de-identified samples. The firm will then offer the CDC complete viral sequences. These data will be used in conjunction with the results of other information supplied to the CDC by national, state, academic, and commercial laboratories to help meet the CDC survey's aims. The financial terms of the deal have not been revealed yet.