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Wired News - LabCorp Collaborates with Unilabs to Expand Development and Reach of Precision Medicine Capabilities

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LONDON, UK / ACCESSWIRE / June 5, 2018 / If you want access to our free research report on Laboratory Corp. of America Holdings (NYSE: LH)("LabCorp"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LH as the Company's latest news hit the wire. On June 01, 2018, the Company announced that it has collaborated with Unilabs, a leading European provider of clinical laboratory testing and medical diagnostic imaging services, to provide expanded global development and delivery of companion diagnostics. Financial terms of the agreement remain undisclosed. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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This collaboration broadens the network of laboratories used by biopharmaceutical companies to support companion diagnostic development and commercialization.

Details of Collaboration

The purpose of the collaboration is to expand access to commercialization channels for companion diagnostics in North America and Europe and accelerate the adoption of companion diagnostics. The companies will use globally harmonized processes to simplify the technical, regulatory and clinical complexities associated with these critical assays. The first application of these processes will be in oncology, particularly immuno-oncology.

The collaboration will initially focus on the commercial availability of assays that have been developed and validated both analytically and clinically by LabCorp and Covance, LabCorp's drug development business.

Collaboration Enables the Companies to Capitalize on the Scientific and Operational Strengths of Companion Diagnostics

David P. King, Chairman and Chief Executive Officer of LabCorp, mentioned that Companion diagnostics are an essential component of precision medicine, enabling physicians to identify the patients who are most likely to benefit from targeted and novel therapies.

David added that with this collaboration, both the companies are capitalizing on the scientific and operational strengths of two leaders in companion diagnostics to benefit biopharmaceutical clients who need global solutions for precision medicine, with the ultimate goal of improving health and improving lives for patients around the world.

Collaboration Addresses the Need for Global Harmonization and Combined Capabilities

Jos Lamers, Chief Executive Officer of Unilabs, stated that the collaboration with LabCorp addresses the need for global harmonization and combined capabilities, including scientific expertise, operational excellence, and timely availability of high-quality companion diagnostic services.

Jos added that the combined ability to bridge the time gaps between development phase and drug approval, and to national reimbursement, by offering a centralized laboratory testing facility, gives the respective customers the advantage of early adoption of their drug.

According to Jos, the intimate knowledge of local testing standards, regulatory, and quality requirements, and navigating logistical challenges will ensure instant access to high-quality testing.

LabCorp's Latest Collaboration

On May 01, 2018, LabCorp and The Recovery Platform announced a new collaboration to expand access to medication-assisted opioid treatment on a national basis. The Recovery Platform is a unique monitoring tool designed to help primary care physicians address and manage opioid-use disorder patient recovery in a compliant and efficient manner. LabCorp is the exclusive national laboratory integrated within The Recovery Platform, allowing for seamless access to LabCorp's medication-assisted treatment monitoring services.

About Unilabs

Founded in 1987, Unilabs is one of Europe's leading suppliers of clinical laboratory testing and medical diagnostic imaging services to private and public healthcare providers, local governments, insurance companies, pharmaceutical companies, and the general public. Unilabs has more than 230 laboratories in 15 countries and 350 customer service locations, and processes more than 188 million diagnostic tests each year.

About Laboratory Corp. of America Holdings

LabCorp, an S&P 500 company, is a leading global life sciences company that is deeply integrated in guiding patient care, providing comprehensive clinical laboratory, and end-to-end drug development services. The Company was founded in 1978 and is headquartered in Burlington, North Carolina.

Stock Performance Snapshot

June 04, 2018 - At Monday's closing bell, Laboratory Corp. of America's stock slightly climbed 0.35%, ending the trading session at $183.05.

Volume traded for the day: 499.40 thousand shares.

Stock performance in the last month – up 7.90%; previous three-month period – up 5.21%; past twelve-month period – up 29.29%; and year-to-date - up 14.76%

After yesterday's close, Laboratory Corp. of America's market cap was at $18.65 billion.

Price to Earnings (P/E) ratio was at 25.47.

The stock is part of the Healthcare sector, categorized under the Medical Laboratories & Research industry. This sector was up 0.3% at the end of the session.

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