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'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.
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.
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