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Labcorp (NYSE: LH) has completed the acquisition of select operating assets and intellectual property from Myriad Genetics' autoimmune unit, including the Vectra® rheumatoid arthritis assay. This strategic move enhances Labcorp's leadership in rheumatology. While specific transaction details remain undisclosed, this acquisition is expected to strengthen Labcorp’s diagnostics capabilities, potentially leading to improved patient outcomes and market positioning.
Positive
Acquisition of Vectra® test enhances Labcorp's rheumatology portfolio.
Strengthens scientific leadership and diagnostics capabilities in autoimmune diseases.
Negative
None.
BURLINGTON, N.C.--(BUSINESS WIRE)--
Labcorp (NYSE: LH), a leading global life sciences company, today announced that it has closed its acquisition of select operating assets and intellectual property (IP) from Myriad Genetics’ autoimmune business unit, including the Vectra® rheumatoid arthritis (RA) assay.
Earlier this year, Labcorpentered into a definitive agreement to acquire Myriad’s Vectra test, related IP and other RA assets, bolstering its scientific leadership in rheumatology. Specific terms of the transaction were not disclosed.
About Labcorp
Labcorp is a leading global life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. Through our unparalleled diagnostics and drug development capabilities, we provide insights and accelerate innovations to improve health and improve lives. With more than 70,000 employees, we serve clients in more than 100 countries. Labcorp (NYSE: LH) reported revenue of $14.0 billion in FY2020. Learn about Labcorp at Labcorp.com, or follow us on LinkedIn and Twitter @Labcorp.
What assets did Labcorp acquire from Myriad Genetics?
Labcorp acquired select operating assets and intellectual property from Myriad Genetics' autoimmune business, including the Vectra® rheumatoid arthritis assay.
How does the acquisition impact Labcorp's market position?
The acquisition is expected to strengthen Labcorp's leadership in rheumatology and enhance its diagnostic offerings.
What is the strategic importance of the Vectra® assay for Labcorp?
The Vectra® assay enhances Labcorp's capabilities in diagnosing and managing rheumatoid arthritis, potentially leading to better patient outcomes.
Did Labcorp disclose the terms of the Myriad acquisition?
No, specific terms of the transaction were not disclosed.
When was the acquisition officially closed?
The acquisition was officially closed as announced on September 13, 2021.
