LabCorp (NYSE:LH) is set to acquire toxicology testing company MEDTOX Scientific (NASDAQ:MTOX) for $241 million as the laboratory testing and diagnostics firm builds out its specialty testing offerings. The definitive merger agreement calls for LabCorp to acquire MEDTOX for $27 per share in cash. That represents a 37 percent premium over MEDTOX’s $19.70 closing price […]
The University of Minnesota has licensed a test for lupus to Laboratory Corporation of America Holdings (NYSE:LH). Developed by Emily Baechler Gillespie, an assistant professor of medicine at the university's medical school, the test can help doctors proactively treat symptoms of lupus, a painful autoimmune disease.
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.