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) and ConcertAI, a leader in AI and real-world data solutions, have announced a collaboration aimed at optimizing precision oncology research. This partnership seeks to improve clinical trial design, enhance patient recruitment, and ensure equitable access to trials. By leveraging ConcertAI’s software and Labcorp’s expertise, they aim to utilize real-world data and AI for more effective oncology trials. The collaboration focuses on diversity in patient recruitment and aims to generate actionable insights for quicker trial execution.
Labcorp (NYSE: LH) is expanding its COVID-19 PCR testing services by offering observed self-collection in over 500 patient service centers (PSCs) nationwide, with plans to increase to over 1,000 sites by mid-December. The service is aimed at asymptomatic individuals, allowing them to collect samples under a phlebotomist's supervision. Testing costs $119, and results are available within 1-2 days. Labcorp has conducted nearly 54 million COVID-19 PCR tests since the pandemic began, playing a crucial role in public health efforts.
Labcorp (NYSE: LH) announced a definitive agreement to acquire Toxikon, a contract research organization specializing in nonclinical testing services. This acquisition is set to enhance Labcorp's nonclinical development portfolio and create a stronger market presence in the Boston area. Toxikon, with annual revenues of approximately $40 million, offers advanced testing and consulting services. The deal is expected to close in Q4 2021, pending regulatory approvals. This strategic move aims to bolster Labcorp’s capabilities in drug and medical device development.
Labcorp (NYSE: LH) will participate in a virtual fireside chat at the Credit Suisse 30th Annual Healthcare Conference on November 9 at 1:00 p.m. ET. A live webcast will be available on Labcorp's Investor Relations website and will be archived for replay. Labcorp is a leading global life sciences company, providing crucial information for healthcare decisions with a revenue of $14 billion in FY2020 and employing over 70,000 individuals worldwide.
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.