LabCorp
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Devices & Diagnostics, BioPharma
Labcorp Shells Out $146M to Buy Enzo Biochem’s Clinical Lab Business
Enzo BioChem’s sale of its clinical lab business to Labcorp is the culmination of a monthslong strategic review. Meanwhile, diagnostics and lab testing giant Labcorp is in the middle of its own corporate shakeup as it readies its clinical trials business for a spinoff as a standalone, publicly traded company.
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Devices & Diagnostics, BioPharma
LabCorp plans to break out its $6B drug development biz as a standalone company
Laboratory testing and clinical trial services giant LabCorp plans to spin off its drug development business as an independent, publicly traded company. It’s the latest in a string of corporate moves for the life sciences sector as companies look to streamline operations in order to focus on particular areas of growth.
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FDA authorizes Labcorp’s at-home test kit for Covid-19, flu
The Food and Drug Administration granted an emergency use authorization for an at-home Covid-19 and flu test kit by Labcorp. It uses a test that was developed by Roche and authorized last year.
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Employee Benefits, Health Tech
Labcorp buys fertility benefits company Ovia
The company purchased digital health company Ovia Health for an undisclosed amount. It makes apps for fertility tracking, pregnancy stages and parenting advice.
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CMS to pay less for Covid-19 test results that take longer than two days
Starting in January, Medicare will pay $75 for tests that take longer than two days to deliver results. It currently pays $100 for each high-throughput Covid-19 test.
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How Covid-19 is accelerating adoption of decentralized clinical trials
Late last month, Medable and LabCorp CRO Covance signed a deal to accelerate adoption of decentralized trials, a trend that has been helped along as Covid-19 has created challenges to conducting trials dependent on traditional brick-and-mortar sites.
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LabCorp first to get FDA green light for Covid-19 at-home testing kit
The agency reissued the emergency use authorization that it gave to LabCorp last month for its RT-PCR test to allow for collection of samples at home by patients, with a doctor’s order.
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Health IT, Startups, BioPharma
RDMD raises $14M for rare disease real-world evidence generation
The San Francisco-based startup is one of several that have been raising money over the past couple of weeks in areas like neurology, oncology and women’s health.
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FDA grants Hologic, LabCorp Covid-19 diagnostic EUAs, gives states greater leeway for testing
The EUAs follow the ones the agency gave last week to Roche and Thermo Fisher Scientific. The agency is also allowing states to take greater responsibility for authorizing tests for the SARS-CoV-2 virus.
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Trayt Health Seeks to Increase Access to Diagnoses and Treatments
CEO Malekeh Amini explains how Trayt Health can bridge the gap for patients seeking neurological care.
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How have these firms making Covid-19 news fared as stock markets have tanked?
While all these companies have been involved in developing testing, vaccines and drugs for SARS-CoV-2, fears related to the global coronavirus pandemic have taken their toll on them as well as firms in other sectors.
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AMCA data breach potentially hits an additional 7.7M LabCorp customers
AMCA has told LabCorp that it is in the process of sending notices to the approximately 200,000 of the company’s consumers whose credit card or bank account information may have been accessed and will offer them identity protection and credit monitoring services for 24 months.
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Global CRO market to grow to $57 billion by 2024, report forecasts
Growth in the CRO sector is expected to accompany growth of clinical trials, their complexity and regulatory requirements.
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LabCorp reportedly planning $8B buyout of CRO
Burlington, North Carolina-based LabCorp is rumored to be negotiating an $8 billion acquisition of Pharmaceutical Product Development (PPD), a global contract research organization operating in over 50 countries.
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After $371M merger, what comes next for LabCorp and Sequenom?
The two companies are perched on a risky, competitive genetic testing market valued in 2015 at $3 billion.