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. provides laboratory services spanning diagnostics and drug development laboratory capabilities for doctors, hospitals, pharmaceutical companies, researchers and patients. News about LH commonly covers earnings releases and guidance, dividend declarations, specialty and companion diagnostics, oncology testing, drug-screening products, and collaborations that expand access to advanced laboratory services.
Company updates also address Labcorp's Diagnostics Laboratories and Biopharma Laboratory Services activities, including FDA-cleared or FDA-approved tests, pediatric diagnostics development, real-world data platforms, digital pathology and AI-enabled laboratory operations. Recurring announcements connect Labcorp's national diagnostic infrastructure with health systems, biopharmaceutical customers and technology partners.
Labcorp (NYSE: LH) announced that Dr. Marcia Eisenberg, Chief Scientific Officer, was recognized as one of Fierce Healthcare’s “2021 Women of Influence.” This accolade highlights her significant impact on healthcare innovation, particularly during the COVID-19 pandemic. Under her leadership, Labcorp has conducted over 50 million molecular tests and collaborated with the FDA for Emergency Use Authorization of their COVID-19 testing solutions. Dr. Eisenberg is also noted for mentoring female scientists and advancing healthcare quality globally.
Labcorp (LH) reported Q3 2021 revenue of $4.06 billion, up 4.3% year-over-year, while diluted EPS declined to $6.05 from $7.17 last year. Adjusted EPS also fell to $6.82 from $8.41. The company raised its full-year revenue guidance to a range of 13.0% to 14.0% growth, adjusting EPS guidance to $26.00 to $28.00. Free cash flow for Q3 stood at $650 million, down from $709 million in the same period last year. Labcorp's Base Business grew 14.6%, driven by acquisitions and organic growth, despite a decline in COVID-19 testing.
Pillar Biosciences has partnered with Labcorp (NYSE: LH) to deliver genomic testing for cancer patients. The collaboration involves the oncoReveal™ Essential Myeloproliferative Neoplasm (MPN) panel, utilizing next-generation sequencing (NGS) technology. This test aims to enhance diagnosis and monitoring for blood and bone marrow diseases. Executives from both companies highlighted the significance of this alliance in expanding access to precision medicine and supporting informed treatment decisions.
Labcorp (NYSE: LH) announced receiving Emergency Use Authorization (EUA) from the U.S. FDA for a combined home collection kit that simultaneously detects COVID-19 and influenza A/B in individuals aged 2 and over. The kit will be available at no upfront cost to eligible individuals who meet specific clinical guidelines. With this new kit, users can conveniently test at home, aiding in informed treatment decisions. Results are typically available within 1-2 days. Labcorp aims to enhance testing access and efficiency with this innovative solution.
Labcorp (NYSE: LH) will release its financial results for Q3 2021 before the market opens on October 28, 2021. The company will host a conference call at 9 a.m. ET to discuss the results, accessible via phone or webcast through the Labcorp Investor Relations website. An audio replay will be available from 1 p.m. ET on October 28 to 11:30 p.m. ET on November 11, 2021. Labcorp, a global leader in life sciences, reported $14 billion in revenue for FY2020.
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.
Labcorp (NYSE: LH) announced its executive management team will participate in a virtual fireside chat at the Morgan Stanley 19th Annual Global Healthcare Conference on September 13 at 3:30 p.m. ET. A live webcast will be accessible via the investor relations page on www.Labcorp.com and will be archived for replay. Labcorp is a global life sciences leader, providing vital diagnostic and drug development information, with over 70,000 employees and serving clients in over 100 countries. The company reported $14 billion in revenue for FY2020.
Labcorp (NYSE: LH) has announced an increase in the minimum hourly wage for its U.S.-based, non-union employees to $15, effective September 2021. This decision aims to enhance workforce retention and attract diverse talent, critical for the company's innovation and customer service. Labcorp has received multiple accolades for its employee support initiatives, including awards for health and well-being, gender equality, and being recognized among the world's best employers. In FY2020, Labcorp reported revenues of $14 billion.
Labcorp (NYSE: LH) has partnered with Community Clinical Oncology Research Network (CCORN) to tackle disparities in precision medicine for cancer patients. The collaboration includes a patient registry, PREFER, aimed at enrolling up to 2,500 patients with advanced solid-tumor cancer starting September 1, 2021. This registry will collect clinical data to inform future cancer trials, enhancing diversity in oncology research. The joint effort also involves creating a biobank for real-world evidence, crucial for improving patient recruitment and understanding disparities in cancer treatment.
Labcorp (NYSE: LH) has acquired Ovia Health, a digital health platform that assists millions of women with family planning, pregnancy, and parenting. This strategic move aims to enhance Labcorp’s role in women’s health by integrating Ovia's resources to provide personalized care experiences. The acquisition allows Labcorp to leverage Ovia’s digital solutions and health content, promoting better communication between patients and healthcare providers. Ovia Health reported about $20 million in annual revenues and has supported over 15 million family journeys.