Welcome to our dedicated page for Labcorp Holdings news (Ticker: LH), a resource for investors and traders seeking the latest updates and insights on Labcorp Holdings stock.
Labcorp Holdings Inc. (NYSE: LH) is a global leader in innovative and comprehensive laboratory services, headquartered in Burlington, NC. With over 35 years of experience, Labcorp performs more than one million tests on approximately 400,000 samples daily, serving more than 220,000 clients worldwide, including physician offices, hospitals, managed care organizations, and biotechnology and pharmaceutical companies.
Labcorp operates a sophisticated laboratory network, consisting of roughly 2,000 patient-service centers. The company offers a broad range of 5,000 clinical lab tests ranging from routine blood and urine screens to complex oncology and genomic testing. Additionally, Labcorp is known for its scientific expertise in esoteric testing, genomics, and clinical and anatomic pathology.
Recently, Labcorp has been active in expanding its operations and capabilities. For instance, it was selected as the winning bidder to acquire assets of Invitae, a leading medical genetics company, for $239 million. This acquisition is expected to bolster Labcorp's genetic specialty testing capabilities, particularly in oncology and rare diseases.
Labcorp continues to innovate, having launched the first trimester preeclampsia screening test in the U.S., which helps determine the risk of developing preeclampsia before 34 weeks of pregnancy. The company's commitment to advancing maternal and fetal health is also evident in its comprehensive preeclampsia screening offerings across all trimesters of pregnancy.
Moreover, Labcorp announced enhancements to its precision oncology portfolio, including the launch of Labcorp Tissue Complete and OmniSeq INSIGHT for ctDNA. These offerings are designed to support biopharmaceutical companies in advancing cancer research and patient care globally.
Financially, Labcorp reported first-quarter revenue of $3.18 billion in 2024, a 4.6% increase from the previous year. The company's adjusted operating income for the quarter was $452.8 million, or 14.3% of revenue. Labcorp's ongoing financial stability is demonstrated by its strong cash balance and total debt management.
Labcorp has a significant impact in the healthcare industry, supporting 84% of the new drugs and therapeutic products approved by the FDA in 2023. With over 67,000 employees serving clients in approximately 100 countries, Labcorp is dedicated to providing insights and advancing science to improve health and lives globally. To learn more about Labcorp, visit www.labcorp.com.
Molecular Loop Biosciences has announced that Labcorp (NYSE: LH) will utilize its SARS-CoV-2 Research Sequencing Panel to sequence thousands of coronavirus genomes weekly from patient samples. This initiative supports the CDC's efforts to monitor and track SARS-CoV-2 variants across the U.S. The sequencing panel streamlines the process of converting RNA samples into sequencer-ready libraries, enhancing scalability and data quality with redundant probe tiling technology. Molecular Loop aims to simplify genomic technology use in labs and enhance accessibility to genetic testing.
Labcorp (NYSE: LH) and OmniSeq are launching OmniSeq INSIGHT℠, a comprehensive genomic and immune profiling test designed to enhance precision oncology. This tissue-based test utilizes next-generation sequencing (NGS) technology to provide clinicians with evidence-based treatment recommendations tailored to individual patients, including potential clinical trial options. Available to U.S. clinicians via Labcorp and globally through biopharmaceutical companies, OmniSeq INSIGHT aims to improve patient outcomes by integrating cutting-edge diagnostic tools into care pathways.
Labcorp (NYSE: LH) has expanded the availability of its Pixel by Labcorp COVID-19 PCR Test Home Collection Kit to 6,000 Walgreens locations across the U.S. This initiative enhances testing access, particularly in underserved areas. Customers can purchase the kit at pharmacies or order via DoorDash and Instacart, allowing for convenient home testing. The kit is authorized for emergency use by the FDA. Labcorp aims to support community health amid the ongoing pandemic, with test results provided online and follow-up consultations available for positive cases.
Labcorp (NYSE: LH) announced the launch of its combined oncology platform at the virtual ASCO Annual Meeting from June 4-8, 2021. This platform integrates diagnostic testing and drug development services to enhance treatment options for cancer patients. Key offerings include OmniSeq® INSIGHT, a pan-cancer sequencing test, and IntelliGEN® Myeloid testing for myeloid malignancies. Labcorp aims to improve patient outcomes through precision medicine and better access to clinical trials, with insights being shared during a presentation by Dr. Robert Phillips.
Labcorp's new study reveals that nearly 87% of COVID-19 patients maintained antibodies for at least 10 months. Analyzing specimens from 39,086 individuals, the study highlights the body's sustained immune response, particularly for the SARS-CoV-2 spike protein. Notably, the positivity rate for spike antibodies remained stable, while nucleocapsid antibodies declined but stayed above 60% after 10 months. The research underscores Labcorp's role in understanding COVID-19 and may influence future vaccination strategies.
Labcorp (NYSE: LH) announced an expansion of its drug development services in the Asia-Pacific region by adding bioanalytical services in Singapore. This new laboratory will enhance the company's capabilities in bioanalytical studies, supporting both small and large molecular entities. Key offerings include Good Laboratory Practice-compliant bioanalysis and faster data turnaround for early-phase trials. Construction is already underway, with an expected opening in late 2021. Labcorp aims to strengthen its position in a critical market, providing vital services to clients in the region.
Labcorp (NYSE: LH) will have its executive management team participate in a virtual fireside chat at the UBS Global Healthcare Virtual Conference on May 24 at 3:00 p.m. ET. A live webcast of the event will be accessible via the Investor Relations section on www.Labcorp.com and will also be archived for future viewing.
Labcorp is a leading life sciences company, reporting $14.0 billion in revenue in FY2020 and employing over 70,000 people globally, providing essential information to aid health decision-making.
Labcorp (NYSE: LH) has announced that the FDA granted Emergency Use Authorization (EUA) for its Pixel by Labcorp COVID-19 PCR Test Home Collection Kit for children aged 2-17, expanding access for younger populations. The kit allows children 2-13 to collect samples with adult assistance, while those 14-17 can self-collect. Starting in late May, guardians can order kits via www.pixel.labcorp.com. The test kit is offered with zero upfront costs when clinical guidelines are met, although it's not FDA-approved but authorized for emergency use.
Labcorp (NYSE: LH) announced the pricing of a $1,000,000,000 offering of senior notes, divided into two tranches: $500,000,000 of 1.550% Senior Notes due 2026 and $500,000,000 of 2.700% Senior Notes due 2031. The Notes, which will bear interest from May 26, 2021, are set to close on the same date, contingent on customary conditions. Proceeds will be used to redeem outstanding Senior Notes maturing in 2022. The offering is led by BofA Securities, KeyBanc Capital Markets, and Wells Fargo Securities.
Labcorp (NYSE: LH) announced plans to offer senior notes in two tranches, which will rank equally with existing unsecured debt. The funds raised will be used to redeem outstanding senior notes due in February and August 2022. The offering will be managed by BofA Securities, KeyBanc Capital Markets, and Wells Fargo Securities, under an effective shelf registration statement filed with the SEC. Labcorp emphasizes that this announcement is not an offer to sell the notes and includes caution regarding forward-looking statements about the offering's success.
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