Shanghai Fosun Pharmaceutical (Group) Co. Ltd. received emergency approval from China's National Medical Products Administration for its test to detect the novel coronavirus.

The Shanghai-based pharmaceutical company said its test kit detects gene targets of the virus and can complete an analysis of 96 samples in two hours.

Fosun's coronavirus nucleic acid detection kit conducts automated testing that lowers the risk of infections and cross-contamination.

Globally, COVID-19 has infected more than 492,000 people and caused over 22,200 deaths as of March 26, according to data from Johns Hopkins University's Center for Systems Science and Engineering.

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