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.
Labcorp (NYSE: LH) partners with the U.S. Department of Health and Human Services (HHS) to promote monoclonal antibody COVID-19 therapies. Patients testing positive via Labcorp's PCR tests will receive information on these treatments. As of May 7, Labcorp has conducted over 41 million COVID-19 PCR tests. Monoclonal antibody treatments, which have emergency use authorization from the FDA, can reduce severe symptoms if administered soon after positive diagnosis. HHS is committed to ensuring eligible patients are aware of available treatments to mitigate severe COVID-19 risks.
Labcorp (NYSE: LH) has announced an agreement to acquire select assets and intellectual property from Myriad Genetics' autoimmune unit, including the Vectra® rheumatoid arthritis assay. This acquisition aims to enhance Labcorp's diagnostics capabilities for rheumatoid arthritis, a condition expected to affect 26% of U.S. adults by 2040. The Vectra test, which analyzes biomarkers to measure disease activity, has been widely used, with over one million tests completed since 2010. The deal is expected to close by the end of Q3, subject to regulatory approvals.
Labcorp (NYSE: LH) reported a robust first-quarter performance for 2021, with revenue surging 47.4% to $4.16 billion, primarily driven by a 32.9% increase in COVID-19 testing. Adjusted EPS rose to $8.79 from $2.37 year-over-year. Operating income improved significantly to $1.06 billion, representing 25.4% of revenue. The company raised its full-year adjusted EPS guidance to $20.00-$24.00, showcasing confidence in ongoing growth, particularly in diagnostics and drug development ventures.
Labcorp (NYSE: LH) has launched the Pixel by Labcorp® COVID-19 PCR Test Home Collection Kit for small businesses, facilitating COVID-19 testing for companies with up to 120 employees. The initiative allows bulk purchasing to save on shipping costs and provides necessary testing for safe operations as businesses reopen. The kits can be self-administered and results are available within 1-2 days. Although the test is authorized under emergency use by the FDA, it reflects Labcorp's commitment to expand access to testing and support community health.
Labcorp (NYSE: LH) has announced its Annual Meeting of Shareholders, set to be webcast live on May 12 at 9:00 a.m. ET via www.Labcorp.com. An archived replay will be available for one year. Labcorp is a prominent global life sciences company that provides crucial information to aid healthcare professionals and patients in decision-making. With over 70,000 employees and a reported revenue of $14 billion in FY2020, Labcorp continues to innovate in diagnostics and drug development.
Labcorp (NYSE: LH) is set to announce its first quarter 2021 financial results before market opening on April 29, 2021. The company will host a conference call at 9:00 a.m. ET to discuss the results, which will be available on the Labcorp Investor Relations website. An audio replay will be accessible until May 13, 2021. Labcorp, a prominent global life sciences firm, reported $14 billion in revenue for FY2020, emphasizing its capability in diagnostics and drug development. The release includes forward-looking statements about COVID-19's impact on business operations.
Labcorp (NYSE: LH) announced the appointment of Kathryn Wengel, previously Executive Vice President at Johnson & Johnson, to its Board of Directors, expanding the board from 9 to 10 members. Wengel brings over 30 years of experience in managing healthcare organizations and global supply chains, which Labcorp anticipates will enhance its operational capabilities. Labcorp's Chairman and CEO, Adam Schechter, emphasized the importance of diverse perspectives in the boardroom, aiming to strengthen the company’s mission in healthcare.
Labcorp (NYSE: LH) has announced its ongoing efforts to enhance its business strategy and capital allocation to unlock shareholder value. The company is making significant advancements in diagnostics and drug development, particularly in areas like oncology and COVID-19. To facilitate this review, Labcorp's Board of Directors has engaged Goldman Sachs & Co. LLC as a financial advisor. The company emphasizes its commitment to improving patient health and its role in combating COVID-19.
Labcorp (NYSE: LH) announces that Dr. Marcia Eisenberg, chief scientific officer, has been honored as a 2021 Luminary by the Healthcare Businesswomen’s Association (HBA). Dr. Eisenberg's recognition celebrates over 30 years of contributions to healthcare innovation and her support for women in STEM. She has played a pivotal role in the commercialization of PCR testing and COVID-19 diagnostics. The honor will be conferred during the virtual Woman of the Year event on May 6. Labcorp reported $14.0 billion in revenue for FY2020.
Labcorp (NYSE: LH) announced that its executive management team will participate in a virtual fireside chat at KeyBanc Capital Markets' Life Sciences and MedTech Investor Forum on March 24 at 2:00 p.m. ET. A live webcast of the presentation will be available on the company's website and archived for later viewing.
Labcorp is a global life sciences leader, providing essential diagnostic and drug development services. The company reported revenue of $14 billion in FY2020 and serves clients in over 100 countries.
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