Labcorp Holdings Inc Stock Price, News & Analysis

Labcorp (NYSE: LH) announced that its executive management team will participate in a virtual fireside chat at the 40th Annual J.P. Morgan Healthcare Conference on Tuesday, Jan. 11, at 4:30 p.m. ET. A live webcast will be available on the company's website, providing insights into its operations and strategies. Labcorp is a global life sciences leader, generating $14 billion in revenue in FY2020 and employing over 70,000 staff across more than 100 countries, focusing on diagnostics and drug development.

Labcorp (NYSE: LH) announced a definitive agreement to acquire Personal Genome Diagnostics Inc. (PGDx), a leader in cancer genomics, for $450 million in cash and up to $125 million based on future performance milestones. This acquisition will enhance Labcorp's oncology portfolio and improve access to precision diagnostics globally, supporting better patient outcomes in cancer care. PGDx's innovative liquid biopsy capabilities align with Labcorp's strategic priorities, with projected revenues from PGDx expected to almost double from $22 million in 2021 to $40 million in 2022.

Labcorp (NYSE: LH) has announced a new capital allocation plan, which includes initiatives to enhance shareholder returns. The Board of Directors approved the initiation of a quarterly cash dividend, targeting a payout ratio of 15-20% of adjusted earnings, and authorized a $2.5 billion share repurchase program. Additionally, Labcorp aims to achieve $350 million in savings through process improvements over three years. These actions reflect Labcorp’s commitment to investing in growth areas and innovation.

Labcorp (NYSE: LH) has successfully closed its acquisition of Toxikon Corporation, enhancing its nonclinical development portfolio. This strategic move aims to strengthen Labcorp's presence in the pharmaceutical and biotechnology sectors, especially in Boston, Massachusetts. The acquisition was first announced on November 18, although specific financial details remain undisclosed. Labcorp continues to grow its capabilities in providing essential insights for healthcare advancements, backed by a revenue of $14 billion in FY 2020.

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.