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First Rapid HIV Test Approved

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  • Description

    Douglas Michels, OraSure CEO, on Oraquick and how it hopes to lower HIV rates.

  • Duration 3:52
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It certainly was one stock -- skyrocketed today shares of orasure doubling searching double digits following the FDA's approval of or a quick.

Or -- -- its rapid at home HIV test and it's the first and only test of its kind.

We've got the CEO behind all the buzz we welcome back Doug Michaels he's Orasure Technologies CEO and president you were first year when you got a seventeen.

To nothing vote -- by the FDA this say this thing works now you've got all -- approval what was that moment like for.

Well it was huge actually I was up -- our and our summer home we were expecting approval to later.

This week but we're so delighted to receive the word on -- -- Tuesday and what does it truly mean you walked up here just of people though he gets affairs is licences game -- what do you mean by that.

Well it's truly -- game changer we believe hum unfortunately today there's still one point two million people.

Infected with HIV here in the United States up to twenty to 25% of those individuals are unaware of their infection and it's -- let.

That population.

Infected but unaware that's responsible for fifty to 75%.

Of the forward transmission so now we have a product that they can buy -- retail they can take home test in the comfort and privacy of their home and hopefully we can drive down.

Incidents and and help these people know their status and live a long and healthy life.

It is so unbelievably easy let's show people here you have the -- how much I need to get this right up about.

How much is this gonna cost him on the shelves CBS or wherever right eight -- rate.

Okay we -- disclose the actual suggested retail price ship will give a little bit more information about that as we get closer to launch.

We anticipate the product will be available on shelf as of October 1.

And it'll also be available online you don't have the price for doctors so that happened already music that we do and it's the it's the exact same tests that doctors have used for the last ten years what is that -- sell that for about seventeen dollars and fifty cents into the professional market OK so it'll be it'll be higher than that.

We've said publicly that will be less than sixty -- -- somewhere between.

Will be where will probably end up as a suggested retail pro -- -- bring it down loan or hurt more people will then get it okay so let's go let's look at this -- both cable or -- this is actually the package that that was validated in our clinical studies this is the actual test device.

To perform the test the consumer simply opens up the package -- instructions for use.

Once they pulled the test stick out of out of the package they simply swap their upper and lower -- Once they've collected the sample here on on the device they simply insert the device into this pile of -- were developed all the talk wanna get that's right so here it is okay but again let me take this out.

Take it and you simply swap your upper and lower gum -- ha yup.

After you've collected the sample there stick this put the stick in the -- here's the two.

And that's it.

Net now you relax twenty minutes later her class how people think panic stricken met at least they will now what is the accuracy of that's it.

It it it's a highly accurate test as as I mentioned the -- has been used for the last ten years in physicians' offices and clinics and hospitals.

All around the country and actually -- 35 countries around the world what I find interesting about your company is you're not just gonna leave it at that.

There is a call center now at -- developed just in case people to a test positive and they're sitting their alone in their home.

Terrified look at it is that the key to the call center it -- multiple functions so number one it's gonna help the consumer.

If they have any questions about how to perform the test or to interpret the results.

Number two -- -- -- a referral source so this is that this is a preliminary test if someone test positive it does need to be confirmed by a health care professional.

In the call center will be able to direct individuals by zip code.

To those local service providers while the ticker symbol is OSU Martha stock surged more than 10% today congratulations.

Thanks so much less true innovation absolutely doubt Michael's as the president and CEO or short David.

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