Quest Diagnostics shares are trading higher. The FDA reportedly finalized its rules that aim to bring lab-developed tests in line with how it oversees other diagnostics.
Portfolio Pulse from Benzinga Newsdesk
Quest Diagnostics shares are trading higher following the FDA's finalization of rules to regulate lab-developed tests similarly to other diagnostics. This regulatory change is seen as a positive development for the company.
April 29, 2024 | 7:12 pm
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Quest Diagnostics shares are trading higher due to the FDA's new rules on lab-developed tests, aligning them with the oversight of other diagnostics.
The FDA's finalization of rules to regulate lab-developed tests in a manner similar to other diagnostics is likely to have a positive impact on Quest Diagnostics. This regulatory change could streamline operations, potentially reduce compliance costs, and enhance the company's product offerings' marketability. As a result, investor sentiment is likely to be positive, driving up the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90