trump: how is labcorp doing? >> right now, mr. president, priority patients are those in hospitals and those in nursing homes. for everybody else across the country, we turn those around in two to three days on average. and we can do 180,000 of those tests per day adn we're still increasing capacity, and we can be doing pooling and other things. pres. trump: so for nursing homes, one-day, and something more than that for everyone else, but three days looks like it's a pretty good target? adam: on average, two to three days. pres. trump: that's very good. we'd be happy with those numbers. numbers we are happy with and we use a certain test around here that goes very quickly, and it's just been recently developed, so we've done an amazing job. everybody at this table has done an amazing job coming up with testing. steve, go ahead. steve: one issue that has come up, once you do have a vaccine, how do you properly distribute it? how do you get it out quickly? pres. trump: when we have the vaccine, we have the military all lined up in

and ceo of labcorps, adam shefter. thank you very much. we have taken bold actions to give americans access to plasma therapies. the fda made the treatment available to patients with life-threatening infections beginning in march. we provided $48 million to the mayo clinic to support their expanded access program for plasma. we're providing up to $270 million to the red cross and america's blood centers for the collection of up to 360,000 units of plasma. my administration is partnering with commercial labs, insurers and health care providers to encourage those who have had the virus to donate plasma. so if you've had the virus, if you donate, it would be a terrific thing. we really need donations of the plasma. to those that have had the virus, you've gotten through it and i guess that means you have something very special there, right, gail? so we would appreciate that. it would help a lot of people. we are grateful to labcorps for offering free antibody testing to identify people who can donate and labcorps has really been fantastic in

we are grateful to labcorp for offering free antibody testing to identify people who can donate and labcorpas really been fantastic in a lot of ways. as a result of these initiatives, we have already created nearly 50,000 patients with plasma, roughly 2 million americans have fully recovered from the virus. this afternoon, i am asking the citizens to go to the coronavirus.gov. it's coronavirus.gov, and volunteered to donate plasma as soon as you can. we have a lot of people that would heal, would get better. as soon as you can, please. in addition, once again, i am urging all you americans to protect the elderly. socially distance. wear a mask when you cannot avoid the crowded places. iit just seems like so many things are taking place in crowded places. we don't want that. and always wash your hands. wash your hands as often as you can. together, we will defeat the virus. we will defeat the invisible enemy. i want to thank the american red cross. i have been a fan for the red cross for a long time, as you know. we appreciate the great work that you do. thank you very much. and now, i would

labcorp has that same goal next month. abc7 news. >>> in the east bay, people have been flocking to a testing site, the drive-through location at cal state university in hayward has seen such a surge they've had to cut off the line every day this week so far. just look at the line there as we pan the camera. the hayward fire department said the site hit new levels on monday when workers tested nearly 500 people. the deputy chief explains that with the expansion of tracking and tracing, there is a spike in demand. >> they want to make sure, oh-oh! i was exposed. i want to quarantine. maybe i don't want to quarantine the whole time. i'll get tested. >> the testing will go from neighbor clog a.m. tomorrow until 4:00 in the afternoon. they're considering adding an evening shift after they get up from work. the site will be closed on friday before the long holiday weekend. >>> san quentin's coronavirus outbreak has spread to a second prison in the state. during a hearing today about the crisis state lawmaker said moving inmates

said the company is expanding faster and labcorp is testing 100,000 cases a day.es to 1 million tests per week. meanwhile, quest diagnostics, the largest laboratory company in the country, has warned it will be impossible to keep up for the demand for covid tests once the fall flu season does start up. also new data shows the number of people with coronavirus in the united states could be vastly underestimated. according to data from the cdc the new infection rate can be 2 to 13 times higher than what has been reported. the findings suggests that large numbers of people who did not have symptoms or medical care may have kept the virus circulating in their communities. and indicates, new york city, one of the hardest hit areas, is nowhere near achieving her immunity. experts believe 60% of people in an area would need to have been exposed to a virus to reach that point. and the florida department of health reported a record high number of hospitalizations from coronavirus yesterday, adding 518 admissions in just one day. there are nearly 370,000 confirmed cases of

joining us is the labcorp ceo.'s talk about now, adam what is the delay like on average for test results to come back >> hi, sara. thank you for having me back pleasure to be here. if you go back to march, we were able to run several thousand tests per week we're now able to run 165,000 tests per day. the demand for tests continues to increase. this week our average turn around time for patients in the hospital is about a day to a day and a half for people outside of hospitals, we're currently running on average of three to five days. >> how do we fix that? how do we get that to be a shorter time period? you know, the epidemiologists say that doesn't cut it. you can't quarantine for that many days until you find out when you tested positive >> sara, there is no doubt we have to continue to increase capacity and we're continuing to beat -- increase capacity every single week over week the first principle is build as much capacity as fast as can you to get the best turn around time as possible. irrespective of what t

now, labcorps has that same goal by next month. stephanie sierra, abc 7 news. >>> stanford hospital is starting a clinical trial to test a new drug that could treat coronavirus. researchers are hoping it will reduce symptoms and shorten the duration of covid-19. it would be a pill that you take if you contract coronavirus. the drug has been used to treat covid-19 in other countries, but has not been approved by the food and drug administration here. >> well, it does suggest that the drug seems to do a reduce the amount of virus that is shed, and it does seem to prevent symptoms in people who are already infected. >> the clinical trial will begin on monday. researchers are aiming to enroll 120 people who have been recently diagnosed with the disease but were not hospitalized. >>> new stricter mask guidelines went into effect today for diners in san francisco. according to the new order, customers must wear face coverings now any time that they are not eating or drinking. that includes waiting to be seated, reviewing the menu, orderi

now, labcorps has that same goal by next month. stephanie sierra, abc 7 news. >>> stanford hospital is starting a clinical trial to test a new drug that could treat coronavirus. researchers are hoping it will reduce symptoms and shorten the duration of covid-19. it would be a pill that you take if you contract coronavirus. the drug has been used to treat covid-19 in other countries, but has not been approved by the food and drug administration here. >> well, it does suggest that the drug seems to do a reduce the amount of virus that is shed, and it does seem to prevent symptoms in people who are already infected. >> the clinical trial will begin on monday. researchers are aiming to enroll 120 people who have been recently diagnosed with the disease but were not hospitalized. >>> new stricter mask guidelines went into effect today for diners in san francisco. according to the new order, customers must wear face coverings now any time that they are not eating or drinking. that includes waiting to be seated, reviewing the menu, orderi

the fda reissued an emergency use authorization for a labcorp test after approved it could detect the virus in asymptomatic people. not only that but the company contest pool samples of up to 5 swabs at a time saving on resources. the fda says this broad screening could be a game changer in reopening schools and businesses right now that test is only available through a prescription and only a labcorp test kid or a health provider can collect samples tonight, researchers at mit have come up with a way for health care workers to reuse a mask with a level of protection comparable to the n 95 respirator face coverings it's called the i'm asked and here's what it looks like it's a. >>silicon mass going to be used to reused without fear of contamination. and n 95 mask is considered the most effective face covering because in can catch up to 95% of particles but they're not made to be sterilized and reused however, a major shortage or earlier this year. force health care workers to use those masks. mit researchers say the eye mask silicone rubber can be sterilized after each use and the dua

against that i would look at labcorp.abcorp being up 4 is not a good sign, it means that they are making a fortune off testing and that the testing is going to continue to be tight i would like to see labcorp down because the federal government has decided to get in the testing business itself and not have a laissez-faire attitude with a couple companies dominating it. by the way, who gets quick testing? maybe people from the mets and phillies quick testing is the province of people who play pro sports and really rich people and that is just -- that's a sham. it's just terrible how many times are they going to test football players? do you think they wait ten days? do you think they wait ten days? unless they have the bye week. >> jim, the argument other countries have test and trace and we have test and wait. that's sort of the argument from a lot of skeptics right now. >> yeah. >> steve liesman has more on this fed lending extension steve? >> carl, yeah, you provided very much the context that i was going to provide whi

the other announcement was by labcorp. they are one of the big labs that takes in so many samples. they said they have increased their capability so they can bring down their average turnaround time to two to three days. much better than two weeks the other thing i want to message is keeping the eye on the reveal they saided to provide $25 billion ramped-up testing. it will be interesting to see with the negotiations with the white house whether they actually got those there. we have all of them hyper-focused on coronavirus, whether it's testing or the stimulus funding, trying to put together the proposal to finally give out those details to americans who are expecting money, hoping to have help financially as the unemployment numbers continue to maintain very high. so a lot of administration officials on the ground working. i do want to point oy what the. did here. he played golf with hall of famer brett favre, and then this video from today, it's the only public-ish activity we saw. he went outside of his country club to a small group of supporters and threw make america and keep

we are starting to see more delays, and some of the biggest testing companies, quest and labcorp warning about the turnaround times and you're hearing about people having to wait a long teem we are in a situation where the surges happen, the testing is, again, becoming a problem. >> frustrating meg, thank you very much for all of that. meg tirrell with all of the news. >>> coming up, bankruptcies could lead to a financial crisis that's what james bullard is warning. how concerned should investors be, and what areas of the economy are most at risk. >>> one chinese expert says the passing the the security law is a wake-up call to the u.s. and could be the end of the city. >>> take a look at the biggest s&p 500 winners. we're back in two here on "the exchange." s. >>> try to pay as much as yo >>> welcome back st. louis fed president james bullard said the spike in cases could lead to more bankruptcies, telling "financial times" we could get a wave of substantial bankruptcy, and that could feed into a financial crisis. joining me is steve audland. it's interesting that you both are together

labcorp. and quest are private companies. should there have been a significant ramping up?ink systems should have been prepared to deal with more tests. we are not at the level of testing we need in this country and anticipated hundreds of thousands of tests per day. we are still not at the level we need to be at and seeing capacity constraints because of it and test turnaround time and yes we should have ramped up the ability to process a lot of tests and get better information about the tests, who's getting tested? what groups perhaps aren't tested enough? and then a distinction of the number of tests done and the people tested. we don't have good information on that so there's information about testing to be improved twae as well as our capacity to test. >> 8% positivity right now nationally in the testing data we have available to us. but if some of that is old meaning that the people being added to that or the negative co column from ten days, two weeks ago is that useful? what does it tell you? >> test positivity is a useful indicator. to have eyes on the virus. so i

growing from two to three days on average since early june quest is not the only lab seeing this labcorp is seeing delays of up to four to six days now. bioreference laboratories saying they return results in three days or less quest really citing the uptick in demand in surging cases particularly across the south, southwest and west for this. albert girard who is heading the tests for this company, 15 to 20 million tests he says coming online by september or october, and pooling tests where you test 5 to 10 samples per test pro teams are getting easier access to testing, hassan whiteside of the portland trailblazers saying he waited 20 minutes for a test result. they say by bringing new testing capacity to central florida, launching a mobile testing site open to the public and bringing in point of care testing to support not only the nba but members of the community in orlando, our program will actually be additive to public testing. but john, there are a lot of questions about this to answer them we're going to talk to bioreference laboratory's chairman dr. cohn who joins us now dr. co

and you couple that with the, you know, note from quest diagnostics and labcorp they're having a hard time processing the tests quickly enough. it's taking longer. you have people waiting days to find out what's going on and they could be silent spreaders. where does that put us? >> all of this makes it so much harder to manage the disease because we're seeing the spreading of the disease, bigger outbreaks. a lot of is from asymptomatic people and this is why i think it is absolutely critical. look, this is not rocket science. we have the message here it's very clear. everyone should be wearing a mask. indoor gatherings are risky. you have to maintain social distance and then the government has do a better job of ramping up testing and tracing. if we do those things we can get a handle on these but we don't have the will to really prioritize those activities. >> yeah. seems like many people are throwing their hands up. thank you very much. >>> set backs for some sports leagues. we'll have that ahead. >>> we'll look at the u.s. futures, for all three major indices, pointing down. globa

same backlog that other states have because there's two main national testing companies, quest and labcorp, and they're swamped. they're swamped, brian. 10 days, 11 days, we've had people take 12 days. the test results are almost useless after that period of time. so you know what? two weeks ago this was working. it took two, three days tops. now they're swamped. we're just doing this instate. we've contracted a number of private labs. we have heroic work at university of colorado, colorado state university. colorado state university has worked with us to test over 13,000 workers in nursing homes and residents of nursing homes to help keep them safe. university of colorado has developed a 45-minute test that we're validating in realtime at our lab with a waiver from fda. so, look, unfortunately our nation is not rising to the occasion. that should not hold the states back. it certainly isn't holding colorado back from moving forward on testing. >> if you and i took a walk through the populated areas of denver tonight and, let's say, boulder tonight, an honest answer. what percentage of peo

support the protection of our vulnerable and also ease the burden on the major labs like quest and labcorps. >> one of the things labs say they have shortages still of swabs and chemical reagents. is there anything that the trump administration, the federal government can do to help with those supplies? i mean the defense production act, something like that? >> so we have a whole team that deals with this every single day, and if you ask a lab here or there, there may be talk about shortages or not getting what they want as a preference but right now because we used the defense production act and because we've mobilized the industry, the federal government procures and distributes swabs and transport media to every state in the quantities they need. so basically they place their order. we distribute them, and then the states distribute them to all the subcomponents. in terms of lab reagents, you know, it is tight. there are certain lab reagents that everybody wants and not everybody can get. so we match the allocation to every state to make sure they meet their state testing goals and remem

covid-19 testing companies labcorp and quest say the waiting time for results has doubled because of the surge. it's now up to four to six days before people getting results. what's the impact of that in terms of the spread of this virus and why the is the superpower unable to get testing done properly and contact tracing now impossible, apparently, because of the surge? what is going on here? >> well, what's going on here we were late to the party and when we showed up we didn't really know what to do. so, this is something that hits home to me because we use both of those labs, and it has -- it's now taking five to six days and people want to know, for example, i had a case today. the gentleman wanted to visit his parents who he hasn't seen in months. and it'sineffectual because by the time we get the results back he may be infected. it's not just the problem we have so many people wanting tests and getting infected, we were slow in coming up with re-agents to run these tests. full-court press has to be done for these lab tests to be accessible tomb. >> yeah. they got to be faster.

. >>> also testing giant labcorp is warning that the virus is spreading faster in the united states thanhe company can expand testing capacity. >>> and senate republicans slash over covid relief efforts. few in doubt that a package will pass by the end of the month.

i call their ceos, the big labs, the quest and the labcorps. they have pooling that was just certified last week. >> special unemployment benefits about to run out in days for millions of americans. republicans are about to unveil a $1 trillion relief package. so we'll take a closer look at what's in it and what happens next later this hour. >>> and the potential vaccine will enter phase iii clinical trials this week. they'll be the most advanced trials in the u.s. and will involve some 30,000 volunteers. with nearly 419,000 confirmed cases, florida is the second biggest epicenter in the u.s. just behind california. for 23 days this month the state has reported more than 9,000 new cases, and sunday was no exception. intensive care beds in the state are filling up, and despite that, officials are looking for ways to reopen. randi kay has details. >> reporter: here in the state of florida, another 9,259 new cases and 77 deaths, bringing the total number of deaths for floridians to more than 5,800 now. and florida now has the second highest number

this week labcorp announced turnaround times of two to three days. this is not only about numbers, it is about getting the right test at the right time to the right person with timely and actionable results so we'll continue to execute in accordance with the national plan. this was outlined in the testing blue print opening up america again and the addendum to the blueprint. it was operationalized in the federal requirements for each state's testing plan. our plan was further detailed in the administration's testing strategy report provided to congress on may 23rd. in short, we are one identifying newly emergent outbreaks early to facilitate swift community action. two, diagnosing covid-19 rapidly to accelerate receipt of those proven treatments. three, protecting the vulnerable. both the elderly and high risk racial ethnic and socioeconomic minorities. four, enabling identification and isolation of those who are infectious, coupled with contact tracing. five, advancing state testing plans to achieve overall national objectives, as well as state spec

scene is a complete disgrace so every test we send out to private lab partners nationally, quest labcorp, seven days, eight days, nine days, six if we're lucky. almost useless from an epidemiological or diagnostic perspective. fortunately our state lab has done yeoman's work we're running three shifts, 24 hours a day. so while some are still sent out of state and unfortunately, that takes a long time and we can't count on it and our country needs to get testing right, we are trying to build that testing capacity in colorado to process tests in that one to two-day turnarou turnaround, and we're able to do 2,000, 3,000 a day, even more with our private lab partners in state like uc health >> it's july 19th though you're still trying to get testing up and running and getting it quicker you just mentioned the federal problems that you had and the private lab issues do you think this -- you think you can realistically reopen schools without getting this testing situation under control? >> well, whether schools reopen in a particular area has more to do with whether there is a hot spot or outb

labcorp's ceo says the virus is spreading faster than testing capacity can be expanded. and quest says meeting test demand will be impossible during the flu season. right now, the congress is stalemated over whether to put money into the compromise legislation which has been in the house bill now for six weeks. >> andrea, you're absolutely right to spotlight testing because this has become, once again, a profound problem. we're hearing stories of people waiting hours and hours in line to get tested. i'm speaking to you from miami, florida, where many people that i know here have gone to get testing and have actually been turned away because there is insufficient supply or they themselves have gone home because they couldn't wait any longer. there is a point at which we will see the amount of testing available even limit the number of positive tests that we see. and so when the numbers plateau, we've got to ask why is that, is that because they're actually plateauing, is it because we're just not testing enough so we're not seeing an actual rise that's taking place? the t

what happened right now is that the big commercial labs, which are handling the bulk of the testing, labcorp, quest, those labs operate in a highly efficient fashion. they use their capital equipment, their big platforms that they use to do the pcr-based testing that we're doing to detect covid at 70% to 80% capacity. they're running at about 80% capacity. what i'm argue ing is that the government should subsidize these companies to use more capacity. run them all at 70 or 60 or 50% capacity. you have extra capacity built in and running all the machines just a little bit less. therefore, you have surge capacity if you have suddenly a big spike in demand for testing because you have a pandemic spreading or some kind of new pathogen. right now we don't have that excess capacity. there's other settings where the government pays companies to build reserve capacity. a new drug that is used to reconstitute white blood cells. it's a drug that you would want to have an excess supply of in the unlikely of a radiological attack because the radiation would impact the bone marrow and you would need that

two labs, quest and labcorp, already warning of coronavirus testing delays as demand surges.ce president mike pence returned to florida hours after the state hit a record in new cases -- >> wash your hands. practice good hygiene, wear a mask when it's indicated by local officials, or wear a mask when you can't social distance. >> reporter: news overnight that his visit to another hot spot, arizona, earlier this week was delayed a day after secret service agents preparing for the trip tested positive for covid-19. and this is the second time in about two weeks that secret service agents have tested positive for covid-19 while preparing for a trip with either the president or the vice president. we know at least two other agents tested positive for the virus ahead of the president's rally in tulsa last month. whit? >> all right, rachel scott for us in washington, thank you. >>> we want to turn to something we can all celebrate this fourth of july, baseball is back. the mlb's summer camp has officially begun as fans count down to opening day. t.j. holmes has more on that. t.j.,

and right, saying that the big ones -- remember we allowed all these companies to merge, there's labcorpnd there's quest, what a company that we only have two companies -- it's not just the government that has completely screwed it up, it's the private sector we have bio reference, too, you can see that goes up pretty much, but they're maxed out. we are back to the three to five day thing, we are back to trying -- except for in some areas like new york, new jersey, once again, the backlog is too great so you have a nonmasked, nonsocial distanced population that exploded and everybody needs testing and the test companies they're done there's no more -- they have no more capacity. so once again we have revealed ourself as one of the more stupid countries on earth and it's really something not to be proud of how the heck did we get to the point where there's two and a half companies that actually do testing? now, someone else could say, yeah, we havers this, this, this i'm right. it's what i do. >> making it plain right there, jim. we will take a break a lot of corporate news to get to this

today, novavax $1.6 billion largest grant yet from operation warped speed, regeneron getting funding, labcorp with the new home test, glaxo with the new partnership to develop a vaccine. even though fauci says the immunity may be finite, we're getting a lot of encouraging news on the medical front today. >> we are, and, listen, you know, i think we've tried to make the point or i certainly have, it's not just vaccines, it is also these anti-virals that are going to prove so important, particularly those that can be given very early in the onset of the virus if we do have the testing that we need and people can know when they're sick, even if they're asymptomatic and can take something that's available. that could change both the trajectory of the virus and the psychology around it and could change behaviors in a significant way. so maybe the market is more aware of this perhaps than we think in terms of the efforts being made by the likes of regeneron and others to get anti-virals out there or get them through phase two, phase three trials and into the marketplace. that could prove as importa

on a week where -- i know, labcorp this week, jim, said the caseload is outstripping its own capacitynd the wait in arizona is not three days it's up to 11 days which completely wipes out any usefulness of contract tracing. we will take a break obviously the markets -- the markets are watching something else entirely as the nasdaq today could break the record for the longest streak without back to back losses we're back in a minute tara, did you know geico is now offering an extra 15% credit on car and motorcycle policies? >>wow...ok! that's 15% on top of what geico could already save you. so what are you waiting for? idina menzel to sing your own theme song? ♪ tara, tara, look at her go with a fresh cup of joe. ♪ gettin' down to work early! ♪ following her dreams into taxidermy! oh, it's...tax attorney. ♪ i read that wrong, oh yeeaaaah! geico. save an extra 15 percent when you switch by october 7th. ♪ give it up for tara! >>> you can't look away from some of the airline results this week we got united, american, and we will talk to southwest's gary kelly in a few moments about the le

labcorp tests is able to identify genetic matter from the test so it is identifiable.it also allows the test to be used on pools of samples of up to five swabs at a time. right now the test is only available by prescription. >>> well the search continues for the vandals who targeted a school in san francisco in a suspected hate crime. last night students, parents and teachers gathered for a rally outside the kcb school on brotherhood way near san francisco state. they came to express their sadness and their anger over the graffiti scrawled on the walls sometime over the overnight hours. >> the community is in shock, our families, students, alumni, they were all in shock to see these hate messages on the wall. >> we are absolutely treating the investigation as a hate crime, it is outrageous, an attack on every single one of us here in san francisco. >> this is the only armenian school in northern california and the graffiti attack comes amid rising tensions between armenia and -- both of those countries are former soviet republics. >>> and a police officer is on adminis

labcorp is doing about 180,000 tests right now. swung a lot of that into the south because that is where the epidemic is. that's the only swing capacity we had trying to create a pool and move it around, that hasn't been done >> just on that point, if we have that swing capacity that is taken to where the outbreaks are, does that mean we have less testing in areas we think it is calm and under control and will have less notice if it sneaks back up? >> ares that exactly right the reason there is delays in the northeast for testing isn't because of a deluge of cases but because that capacity has been moved to other states. they are spreading their delays across whole countries they are not just going to have delays in florida. they'll try to move around capacity i think that's a real risk so that if we fall behind, they could lose control of it this is a risk looking at opening schools, you look at can you do testing you can't detect outbreaks in 24 hours. that is a risk in opening schools. if you want to detect an outbreak, you need

and as coronavirus cases continue to surge nationwide, the chief executive of labcorp says that the virus is spreading faster than the company can expand testing capacity, leading to slower turnaround time for test results. meanwhile, quest diagnostics, the largest laboratory company in the country has warned it would be impossible to keep up with demand for covid-19 tests once the fall flu season starts. >>> while yesterday's briefing was the first in months from the president, remarkably little news came out of it. nearly 4 million cases in this country and nearly 143,000 deaths so far that we know of. the president yesterday said, "we are in the process of developing a strategy." >> my god. what do you say about that? >> we are in the process. >> we are in the process. 143,000 dead. >> we are in the process of developing a strategy, with a pandemic where a strategy could have been in place months ago. basic science that a third grader could understand, and we're in the process. just saying. in reality, the biggest takeaway from the event was something entirely noncoronavirus related. t