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Alere (ALR) Receives FDA Approval for RSV Molecular Test

Alere Inc ALR recently announced 510(k) approval from the U.S. Food and Drug Administration (FDA) for its Alere i RSV test, a unified solution of rapid and accurate diagnosis of RSV diseases.

Notably, the news resulted in a modest 0.6% increase in Alere’s stock price. However, the company currently represents an unimpressive one year return of -23.86%, as compared with S&P 500’s return of 10.81% over the same time frame. We believe, the recent development will help Alere bounce back and rise against the unimpressive market sentiments.

Respiratory syncytial virus or RSV is a highly contagious and fatal virus that infects a person's lungs and breathing passage. The Alere i RSV test detects this virus utilizing iNAT (isothermal nucleic acid amplification technology) in the nasopharyngeal swab samples in 13 minutes or less.

The company is also set to apply for a...