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 frequently in the news as a global provider of innovative and comprehensive laboratory services. Company announcements highlight activities across diagnostics, oncology, neurology, consumer testing and biopharma laboratory services, giving investors and healthcare professionals insight into how Labcorp is evolving its business and scientific capabilities.
Recent press releases have covered topics such as quarterly financial results, updated full-year guidance and cash dividends on Labcorp’s common stock. These items show how the company communicates its financial performance, capital allocation decisions and participation in investor conferences and healthcare industry events.
Labcorp’s news flow also emphasizes developments in specialty testing. The company has reported on the expansion of its Plasma Detect molecular residual disease portfolio for monitoring recurrence risk in certain breast, lung and colon cancers, and on clinical studies featuring its MRD technology in journals such as Nature Medicine and Clinical Cancer Research. In neurology, Labcorp has announced plans to offer the Elecsys pTau181 blood test, cleared by the U.S. Food and Drug Administration to aid in the initial assessment for Alzheimer’s disease and other causes of cognitive decline.
Other news items describe collaborations and transactions, including agreements to acquire select outreach laboratory assets from health systems, the sale of select early development medical device testing assets to NAMSA, and partnerships that expand access to at-home testing through Labcorp OnDemand. Governance updates, such as board appointments and executive retirements, are also disclosed through company news.
This page aggregates these types of updates, allowing readers to follow Labcorp’s announcements on clinical testing innovations, oncology and neurology offerings, consumer-focused services, strategic partnerships, financial results and corporate governance.
BD (Becton, Dickinson and Company) has entered into a collaboration with Labcorp to develop flow cytometry-based companion diagnostics (CDx) aimed at improving cancer treatment outcomes. This strategic partnership combines BD's expertise in flow cytometry with Labcorp's strengths in diagnostics and drug development, creating a comprehensive solution for the pharmaceutical industry. The collaboration will facilitate the development and commercialization of CDx, enhancing patient access to personalized therapies.
Labcorp (NYSE: LH) reported Q2 revenue of $3.7 billion, a 3.7% decline from last year, with diluted EPS at $3.87 compared to $4.76. Adjusted EPS also fell to $4.96 from $6.13. The company announced plans to spin off its Clinical Development business, targeting completion in H2 2023. Free cash flow improved to $429 million from $390 million in the previous year. Full-year adjusted EPS guidance was raised to $19.00 - $21.25. Significant investments in innovative diagnostics were made, addressing various health conditions.
Labcorp (NYSE: LH) announced its Board of Directors has authorized a tax-free spin-off of its Clinical Development business, creating two independent, publicly traded companies. This strategic move is designed to enhance operational focus and capitalize on market opportunities. The Clinical Development business will position itself as a leading Contract Research Organization (CRO), while Labcorp will continue as a global laboratory leader. The spin-off aims to provide each entity with targeted growth strategies and more focused capital structures. Completion is anticipated in the second half of 2023, pending regulatory approvals.
Labcorp has launched a unique Clinical Decision Support (CDS) interpretative report for its Stinging Insect Component-Specific IgE Test. This test aims to enhance patient management regarding venom allergies, impacting nearly 10 million Americans. The report, developed with input from leading experts, offers specific allergen identification and treatment suggestions, aiming to improve the efficacy of venom immunotherapy. Labcorp remains the only reference laboratory offering such testing, supporting healthcare providers in diagnosing and managing insect venom allergies effectively.
Labcorp has announced an expansion of its automated clinical trial kit production line in Mechelen, Belgium. This expansion will allow the company to fulfill clinical trial kits for over 70 countries in Europe, the Middle East, and Africa (EMEA), up from 27 countries in 2021. The facility aims to enhance delivery times and flexibility for clinical trial testing. Labcorp's European Operations Center has produced over 1.1 million trial kits since opening in March 2021, supporting various medical studies, including oncology and autoimmune conditions.
Labcorp (NYSE: LH) is set to release its financial results for Q2 2022 on July 28, 2022, before market opening. A conference call will follow at 9 a.m. EDT to discuss these results, with a real-time webcast available on the Labcorp Investor Relations website. An audio replay of the call will be accessible from 2 p.m. EDT on July 28 until 11:30 p.m. EDT on August 11. Labcorp, a global life sciences leader, reported $16 billion in revenue in FY2021, providing vital information for healthcare decisions.
Labcorp (NYSE: LH) announced a cash dividend of $0.72 per share, payable on September 9, 2022, to stockholders of record by the close of business on August 18, 2022. The company reported a revenue of $16 billion in FY2021 and operates globally, providing critical life sciences information to facilitate decision-making in healthcare. With over 75,000 employees, Labcorp serves clients in over 100 countries, underscoring its extensive reach and impact in the diagnostics and drug development sectors.
Labcorp (NYSE: LH) has launched a new Neurofilament Light Chain (NfL) blood test, marking the first widely accessible diagnostic tool for detecting neurodegeneration and neuronal injury. This test can help identify conditions such as multiple sclerosis, Alzheimer’s, Parkinson’s, and brain injuries, like concussions. The blood test aims to facilitate faster diagnoses and improve treatment decisions, benefiting millions of patients suffering from neurodegenerative diseases. It is now available at hospitals, physicians’ offices, or Labcorp’s nearly 2,000 service centers.
Labcorp (NYSE: LH) has announced a strategic partnership with MD Anderson Cancer Center Foundation Spain to enhance oncology clinical trials. This collaboration aims to accelerate cancer therapy development by prioritizing early phase trials at MD Anderson's facilities in Spain. With over 1,000 oncology studies globally, Labcorp continues to be a leader in drug development, emphasizing the importance of Phase I trials in the therapy approval process. This partnership positions MD Anderson as a reference center in Europe for innovative cancer treatments.
Labcorp (NYSE: LH) announced it will begin testing for monkeypox using the CDC's orthopoxvirus test, enhancing access to testing during the ongoing outbreak. Labcorp is the first national laboratory to offer this PCR test and aims to increase testing capacity to 10,000 tests per week, doubling the current capacity. Initially performed in North Carolina, testing can expand nationwide if necessary. The public will need to consult healthcare providers for sample collection and testing initiation. This initiative underscores Labcorp's commitment to public health.
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