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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934
December 6, 2001
- ------------------
(Date of earliest event reported)
LABORATORY CORPORATION OF AMERICA HOLDINGS
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(Exact name of registrant as specified in its charter)
DELAWARE 1-11353 13-3757370
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
358 SOUTH MAIN STREET, BURLINGTON, NORTH CAROLINA 27215
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(Address of principal executive offices)
336-229-1127
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(Registrant's telephone number, including area code)
ITEM 5. OTHER EVENTS
Laboratory Corporation of America -Registered Trademark-
Holdings (LabCorp -Registered Trademark-)(NYSE:LH) announced
that PreGen-26-Trademark- (a DNA-based colorectal cancer test)
is now available through its nationwide network to physicians
and their patients. The test is based on EXACT Sciences
Corporation's (NASDAQ:EXAS) proprietary genomics-based
technology.
PreGen-26 targets Hereditary Non-Polyposis Colorectal Cancer
(HNPCC) - an inherited predisposition to develop colorectal
cancer. People with this syndrome have an 80 percent lifetime
risk of developing the disease.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
20) Press release of the Company dated December 6,
2001.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange
Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly
authorized.
LABORATORY CORPORATION OF AMERICA HOLDINGS
------------------------------------------
(Registrant)
By:/s/ BRADFORD T. SMITH
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Bradford T. Smith
Executive Vice President,
and, Secretary
Date: December 6, 2001
Laboratory Corporation of America-Registered Trademark- Holdings
358 South Main Street
Burlington, NC 27215
Telephone: 336-584-5171
FOR IMMEDIATE RELEASE
Contact: 336-436-4855
Pamela Sherry
Investor@labcorp.com
Shareholder Direct: 800-LAB-0401
www.labcorp.com
LabCorp first to bring New Genomic-based, Non-Invasive Colorectal Cancer
Test to Market
Only lab applying EXACT Sciences' proprietary DNA-based
technology
Burlington, NC, December 6, 2001 - Laboratory Corporation of America-
Registered Trademark- Holdings (LabCorp-Registered Trademark-) (NYSE:
LH) today announced that PreGen-26-Trademark- - a DNA-based colorectal
cancer test - is now available through its nationwide network to physicians
and their patients. The test is based on EXACT Sciences Corporation's
(NASDAQ: EXAS) proprietary genomics-based technology.
PreGen-26 targets Hereditary Non-Polyposis Colorectal Cancer (HNPCC) -
an inherited predisposition to develop colorectal cancer. People with this
syndrome have an 80 percent lifetime risk of developing the disease.
"LabCorp's offering of PreGen-26 reaffirms our commitment to apply today's
knowledge of genetics to yield improved clinical information for physicians
and patients," said LabCorp Chairman and CEO Thomas P. Mac Mahon.
"We are extremely pleased to collaborate with EXACT Sciences in this
exclusive national partnership to make this test and future tests available."
Don Hardison, President and CEO of EXACT Sciences commented, "Our
partnership with LabCorp represents the execution of EXACT Sciences' long-
term strategic plan to provide industry leaders, like LabCorp, the tools to
successfully commercialize our technologies. We are looking forward to
additional ventures with LabCorp that will help us achieve our mission of
using genomics to eradicate the mortality associated with cancer."
PreGen-26 is not a predictive test for colorectal cancer - it is intended to
detect the presence of actual disease. The test is expected to become a part
of HNPCC patients' routine surveillance examinations, helping to detect
colorectal cancer earlier when treatment is most effective. In active
colorectal cancer, DNA from tumors is shed into the colon and carried out of
the body in stool. LabCorp will provide a non-invasive, patient-friendly
method for patients to collect whole stool samples in the privacy of their
home. The sample will then be analyzed by LabCorp using EXACT Sciences'
proprietary, genomics-based technology to isolate and analyze the DNA shed
from colorectal tumors. Following the analysis, LabCorp will send the test
results to the patient's physician for use in connection with future
monitoring and treatment.
Colorectal cancer is second only to lung cancer in the number of deaths it
causes annually among Americans. About 139,000 Americans will be
diagnosed with colorectal cancer each year and 57,000 people will die from it,
according to the American Cancer Society. The American Cancer Society
also estimates that 90 percent of people who are diagnosed with colorectal
cancer would survive if the disease were detected earlier.
About LabCorp
The first national clinical laboratory to fully embrace genomic testing,
Laboratory Corporation of America-Registered Trademark- Holdings
(LabCorp-Registered Trademark-) has been a pioneer in commercializing new
diagnostic technologies. As a national laboratory with annual revenues of
$1.9 billion in 2000 and over 18,000 employees, the company offers more
than 4,000 clinical tests ranging from routine blood analyses to sophisticated
molecular diagnostics. Serving over 200,000 clients nationwide, LabCorp
leverages its expertise in innovative clinical testing technology with its
Centers of Excellence. The Center for Molecular Biology and Pathology, in
Research Triangle Park, North Carolina, offers state-of-the-art molecular
gene-based testing in infectious disease, oncology and genetics. Its National
Genetics Institute in Los Angeles is an industry leader in developing novel,
highly sensitive polymerase chain reaction (PCR) methods for testing hepatitis
C and other blood borne infectious agents. LabCorp's Minneapolis-based
Viro-Med offers molecular microbial testing using real time PCR platforms,
while its Center for Esoteric Testing in Burlington, North Carolina, performs
the largest volume of specialty testing in the network. LabCorp's clients
include physicians, state and federal government, managed care organizations,
hospitals, clinics, pharmaceutical and Fortune 1000 companies, and other
clinical laboratories.
About EXACT Sciences Corporation
EXACT Sciences Corporation is an applied genomics company that has
developed proprietary technologies that may be used for the early detection of
several common cancers. EXACT Sciences has selected colorectal cancer as
the first application of its technologies. Colorectal cancer is the most deadly
cancer among non-smokers, and is curable if detected early. Despite the
availability of colorectal cancer screening and diagnostic tests for more than
20 years, the rate of early detection of colorectal cancer remains low.
EXACT Sciences believes its genomics-based technologies will enable early
detection of colorectal cancer so that more people can be effectively
treated. Founded in 1995, EXACT Sciences is based in Maynard, Mass.
Detailed information on EXACT Sciences can be found on the World Wide
Web at www.exactsciences.com.
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements are subject to
a variety of risks and uncertainties, many of which are beyond EXACT Sciences'
and LabCorp's control. These risks and uncertainties could cause actual results
to differ materially from those contemplated in these forward-looking
statements. Existing and prospective investors are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of
the date hereof. EXACT Sciences and LabCorp undertake no obligation to update
or revise the information contained in this press release, whether as a result
of new information, future events or circumstances or otherwise. For
additional information regarding the risks faced by EXACT Sciences, see
the disclosure contained in EXACT Sciences' public filings with the Securities
and Exchange Commission including, without limitation, its Form 10-K for the
year ended December 31, 2000 and subsequent Forms 10-Q; for the risks faced by
LabCorp, see the disclosure contained in LabCorp's public filings with the
Securities and Exchange Commission including, without limitation, its Form 10-K
for the year ended December 31, 2000 and subsequent Forms 10-Q.