Labcorp Launches Global Trial Connect to Accelerate Clinical Trials

Rhea-AI Summary

Labcorp (NYSE: LH) has launched Labcorp Global Trial Connect, a suite of digital solutions to enhance the efficiency of clinical trials. Announced on June 17, 2024, these tools aim to accelerate trial processes at investigator sites by simplifying workflows, improving patient experiences, and aiding biopharma sponsors. Key features include site enablement resources to identify study opportunities and enhance diversity, supply readiness support to prevent delays, and workflow facilitation for better data integration and error reduction. Available to current Labcorp Central Laboratory clients, these solutions promise to speed up study initiation and maintain momentum.

Positive

• Launch of Labcorp Global Trial Connect could enhance trial efficiency, potentially speeding up market entry for therapies.
• Site enablement resources may improve patient recruitment and diversity in clinical trials.
• Supply readiness support aims to reduce trial delays and kit waste, improving startup efficiency.
• Workflow facilitation features might reduce errors and queries, improving data accuracy.
• 24/7 site support and on-demand tools could maintain study momentum, benefiting trial timelines.

Negative

• The new solutions are only available to current Labcorp Central Laboratory clients, limiting accessibility.
• High expectations for the new suite may not be met, potentially leading to investor disappointment.
• Implementation and integration of new systems could present short-term operational challenges.

Suite of digital and data solutions designed to improve clinical trial efficiency, reduce data delays and simplify investigator site workflows

BURLINGTON, N.C. , June 17, 2024 /PRNewswire/ -- Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, announced today the launch of Labcorp Global Trial Connect, a suite of central laboratory solutions aimed at increasing the speed of clinical trials where the heart of clinical research is conducted – investigator sites.

"The patient-investigator-biopharma sponsor relationship is at the foundation of a successful clinical trial. Global Trial Connect simplifies the investigator workflow, improves the patient experience and ultimately enables biopharma sponsors to bring therapies to market faster," said Jon DiVincenzo, EVP and President, Central Laboratories and International at Labcorp.  "As the world's leading central laboratory, Labcorp is dedicated to improving the pace of clinical trials focusing on the investigator site experience from study initiation to patient recruitment and data collection."

Labcorp Global Trial Connect, available to current Labcorp Central Laboratory clients, incorporates complementary digital and data solutions that help accelerate clinical study startup, maintain study momentum and increase study throughput. Capabilities include:

• Site enablement resources – to identify new study opportunities, enhance patient access and recruitment and improve diversity in clinical trials.
• Supply readiness support – to increase study startup efficiencies, reduce trial delays and reduce supply and kit waste.
• Site workflow facilitation – to help integrate sample collection and tracking data, provide visibility and actionable analytics to both sites and sponsors, and reduce errors, queries, holds and data revisions through eRequisition functionality.
• Study management and investigator support – to accelerate study startup and maintain study momentum with 24/7 site support and on-demand tools and trainings.

For more information, visit LabcorpGlobalTrialConnect.com.

About Labcorp
Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's more than 67,000 employees serve clients in approximately 100 countries, provided support for 84% of the new drugs and therapeutic products approved in 2023 by the FDA, and performed more than 600 million tests for patients around the world. Learn more about us at www.labcorp.com.

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SOURCE Labcorp

FAQ

What is Labcorp Global Trial Connect?

Labcorp Global Trial Connect is a suite of digital and data solutions designed to accelerate clinical trials by improving efficiency, reducing data delays, and simplifying workflows at investigator sites.

When was Labcorp Global Trial Connect launched?

Labcorp Global Trial Connect was launched on June 17, 2024.

What are the key features of Labcorp Global Trial Connect?

Key features include site enablement resources, supply readiness support, workflow facilitation, and 24/7 site support with on-demand tools and training.

Who can access Labcorp Global Trial Connect?

Labcorp Global Trial Connect is currently available to existing Labcorp Central Laboratory clients.

How might Labcorp Global Trial Connect benefit clinical trials?

The suite aims to improve patient recruitment, enhance data accuracy, reduce trial delays, and maintain study momentum, potentially speeding up the market entry of therapies.