U.K. Paid $20 Million for New Coronavirus Tests. They Didn’t Work. [The New York Times]
GlaxoSmithKline PLC (GSK)
US:NYSE Investor Relations:
gsk.com/en-gb/investors
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Source: The New York Times
LONDON — The two Chinese companies were offering a risky proposition: two million home test kits said to detect antibodies for the coronavirus for at least $20 million, take it or leave it.The asking price was high, the technology was unproven and the money had to be paid upfront. And the buyer would be required to pick up the crate loads of test kits from a facility in China.Yet British officials took the deal, according to a senior civil servant involved. Under growing public criticism for their slow and unsteady response to the coronavirus crisis, British officials confidently began promising tests would be available at pharmacies in as little as two weeks.“As simple as a pregnancy test,” Prime Minister Boris Johnson gushed on March 19 at anews conferenceThere was one problem, however. The tests did not work.Found to be insufficiently accurate by a laboratory at Oxford University, half a million of the tests are now gathering dust in storage. Another 1.5 million bought at a similar
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