CVS stores in some cities run out of COVID tests as cases spike: Bloomberg

At-home COVID-19 tests have sold out at some pharmacy locations of CVS Health (NYSE:CVS) as a summer spike in case numbers has fueled the demand, Bloomberg News reported, citing data as of Friday afternoon.

CVS (CVS) locations in Houston, Austin, and Reno, Nevada, were among the pharmacy outlets that reported stock-outs for all brands of at-home COVID-19 tests. However, the company said that at least one brand of test was available across 91% of its store network.

Becton, Dickinson (BDX), QuidelOrtho (QDEL), Abbott Laboratories (ABT), and Roche (OTCQX:RHHBY) (OTCQX:RHHBF) are among the largest manufacturers of at-home COVID-19 tests in the U.S.

The uptick in demand coincides with a rise in COVID-19 infections. According to data from the U.S. Centers for Disease Control and Prevention (CDC) for the week ending July 27, 16% of COVID tests have turned positive compared to 14% a week ago.

Meanwhile, CVS’ (CVS) rival Walgreens (WBA) said it has ample supplies of COVID tests, and the company’s website also indicated there were no stock-outs across its pharmacy network.

However, Walgreens (WBA) and several independent pharmacies in New York City said the demand has risen sharply in recent months.

Walgreens (WBA) spokesperson Molly Sheehan also confirmed that the purchases of at-home COVID tests have approached the highest level since the holiday season. Still, Abbott (ABT), the maker of Binax Covid tests, reported a ~61% YoY decline in COVID-19 testing sales with its Q2 2024 results last month.