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 (NYSE: LH) has appointed Dr. Deborah Ann Sesok-Pizzini as its new Chief Medical Officer of Labcorp Diagnostics, effective January 11, 2021, following Dr. Dot Adcock's retirement in April 2021. Dr. Sesok-Pizzini brings over 20 years of healthcare experience, having previously served in various leadership roles at The Children's Hospital of Philadelphia and as a professor at the University of Pennsylvania. Dr. Brian Caveney expressed enthusiasm about her contributions to the team.
Labcorp (NYSE: LH) will announce its fourth quarter and full year 2020 financial results on Feb. 11, 2021, prior to market opening. A conference call will follow at 9:00 a.m. ET to discuss the results. Last year, Labcorp reported revenues of $11.5 billion. The investor relations website will provide the earnings release and additional information. An audio replay of the call will be available until Feb. 25, 2021. The company advises stakeholders to consider forward-looking statements cautiously due to various market risks.
Labcorp (NYSE: LH) has secured a contract with the CDC to conduct genomic sequencing for SARS-CoV-2, supporting a comprehensive genomic survey across the U.S. The initiative aims to enhance national surveillance, identify new variants, and refine public health responses. Labcorp will process random de-identified samples that test positive for the virus, contributing to the CDC's goal of increasing genomic sequencing capacity. This collaboration is set to double the weekly genomic sample sequencing rate, as stated by Labcorp's Chief Scientific Officer, Dr. Marcia Eisenberg.
Labcorp (NYSE: LH) announced that Dr. Brian Caveney, chief medical officer, was recognized by Modern Healthcare as one of the 100 most influential people in healthcare for 2020. This accolade highlights Dr. Caveney's leadership during the COVID-19 pandemic, including the launch of the first commercial COVID-19 PCR test. He praised Labcorp's teams for their dedication and innovation in addressing the crisis. The full ranking is available in the December issue of Modern Healthcare. Labcorp reported $11.5 billion in revenue for FY2019, providing critical insights to improve health worldwide.
Labcorp (NYSE: LH) announced participation in a virtual fireside chat at the 39th Annual J.P. Morgan Healthcare Conference on January 12 at 8:20 a.m. (EST). The event will provide insights from the executive management team and will be available via live webcast on their website. With reported revenue of $11.5 billion in FY2019, Labcorp continues to leverage its diagnostics and drug development capabilities across over 100 countries, aiming to enhance healthcare decisions globally.
Labcorp (NYSE: LH) announced that its Pixel by Labcorp™ At-Home COVID-19 Collection Kit is now available through Walgreens Find Care®. This digital health platform assists users in accessing COVID-19 testing services easily. Patients can initiate testing by completing a survey, and kits are shipped for self-collection, with results available online. Labcorp aims to provide convenient health services and enhance access to testing amid the COVID-19 pandemic, which is crucial for informed health decisions.
LabCorp (NYSE: LH) has received FDA Emergency Use Authorization for the Pixel by LabCorp COVID-19 Test Home Collection Kit, marking it as the first over-the-counter kit without a prescription requirement. This enables broad distribution through retail channels, enhancing access to COVID-19 testing. The kit allows self-collection in a private setting, minimizing virus transmission, and results are securely delivered via the Pixel portal. LabCorp aims to empower users to make informed health decisions and reduce the spread of COVID-19.
LabCorp (NYSE: LH) will participate in a virtual fireside chat at the 3rd Annual Evercore ISI HealthCONx Conference on December 3 at 1:50 p.m. ET. The discussion will be streamed live on the company's website and will also be available for replay. LabCorp is an S&P 500 company dedicated to advancing health and patient care. In 2019, the company reported revenues of over $11.5 billion, providing extensive clinical laboratory and drug development services. For further information, visit www.LabCorp.com.
LabCorp (NYSE: LH), Circuit Clinical®, and Riverside Medical Group (RMG) announced a collaboration to enhance clinical trial access for RMG patients in New Jersey. The partnership will allow patients to participate in trials for new treatments within their own doctor's office. The initiative includes the opening of a dedicated research site operated by Circuit Clinical®, marking its first expansion beyond New York. This collaboration aims to expedite the enrollment of patients in clinical trials, particularly in areas like oncology and COVID-19.
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