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Labcorp to Expand Bioanalytical Services With Integrated Laboratory in Singapore

New Laboratory Grows Asia-Pacific Operations

BURLINGTON, N.C.--(BUSINESS WIRE)--May 19, 2021-- Labcorp (NYSE: LH), a leading global life sciences company, today announced the expansion of its drug development offering in the Asia-Pacific region with the addition of bioanalytical services in Singapore.

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Photo courtesy of Labcorp

Photo courtesy of Labcorp

“Singapore is a crucial region for strengthening Labcorp’s extensive global presence, offering our clients—both in-region and international—a complementary site to support their bioanalytical studies,” said Stephane Sidobre, vice president and head of Labcorp’s Global Bioanalytical Services. “We are thrilled to expand services in this area and enhance the options available to those we serve. The new laboratory will provide expedited turnaround time for our clients and enhance Covance by Labcorp’s ability to deliver for the Asia-Pacific region.”

The new bioanalytical laboratory in Singapore will support the development of both small and large molecular entities while providing a complete range of regulated and non-regulated bioanalytical services. Bioanalytics is a quantitative measure of drugs and metabolites in biological samples such as blood, serum, tissue and plasma. The laboratory will offer Good Laboratory Practice and Good Clinical Practice-compliant bioanalysis, liquid chromatography-mass spectometry and immunochemistry platforms, as well as discovery and clinical biomarker analytical services. In addition, it will allow faster data turnaround for early phase trials in Asia-Pacific markets.

Construction and reconfiguration of the bioanalytical laboratory has commenced, and its opening is expected in late 2021.

About Labcorp
Labcorp is a leading global life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. Through our unparalleled diagnostics and drug development capabilities, we provide insights and accelerate innovations to improve health and improve lives. With more than 70,000 employees, we serve clients in more than 100 countries. Labcorp (NYSE: LH) reported revenue of $14 billion in FY2020. Learn about Covance by Labcorp at www.Covance.com, and Labcorp at www.Labcorp.com, or follow us on LinkedIn and Twitter @Labcorp.

Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements with respect to the Company’s future operations, expansion of offerings and capabilities, and opportunities for future growth.

Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond the company’s control, including without limitation, the impact of the COVID-19 pandemic and its impact on our business and financial condition and on general economic, business, and market conditions, our ability (or inability) to execute on our plans to respond to the COVID-19 pandemic, competitive actions and other unforeseen changes and general uncertainties in the marketplace, changes in government regulations, including healthcare reform, customer purchasing decisions, including changes in payer regulations or policies, other adverse actions of governmental and third-party payers, changes in testing guidelines or recommendations, federal, state, and local government responses to the COVID-19 pandemic, the effect of public opinion on the company’s reputation, adverse results in material litigation matters, the impact of changes in tax laws and regulations, failure to maintain or develop customer relationships, our ability to develop or acquire new products and adapt to technological changes, failure in information technology, systems or data security, adverse weather conditions, the number of revenue days in a financial period, employee relations, personnel costs, and the effect of exchange rate fluctuations. These factors, in some cases, have affected and in the future (together with other factors) could affect the company’s ability to implement the company’s business strategy and actual results could differ materially from those suggested by these forward-looking statements. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.

The company has no obligation to provide any updates to these forward-looking statements even if its expectations change. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in the company’s most recent Annual Report on Form 10-K and subsequent Forms 10-Q, including in each case under the heading RISK FACTORS, and in the company’s other filings with the SEC. The information in this press release should be read in conjunction with a review of the company’s filings with the SEC including the information in the company’s most recent Annual Report on Form 10-K, and subsequent Forms 10-Q, under the heading MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

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Labcorp Contacts:
Media: Christopher Allman-Bradshaw – 336-436-8263
Media@Labcorp.com

Investors: Chas Cook – 336-436-5076
Investor@Labcorp.com

Source: Labcorp