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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
March 12, 2002
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(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 an advanced suite
of molecular assays developed to improve the management of patients
diagnosed with the hepatitis B and/or hepatitis C virus. The
introduction of these tests further strengthens LabCorp's leading
position in the molecular hepatitis testing market, and demonstrates
the company's commitment to providing its clients with only the most
advanced RNA/DNA tests and technology.
"Recently, there has been a dramatic improvement in therapy options for
patients suffering from hepatitis B and C," said Myla P. Lai-Goldman,
MD, LabCorp's Executive Vice President, Chief Scientific Officer and
Medical Director. "No longer does the diagnosis of these infections
precede a life of continuous therapeutic trial and error for the
patient. Advances in molecular medicine like LabCorp's suite of
hepatitis B and C tests, as well as improved therapeutics, result in
far better patient management and enhanced quality of life."
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) Exhibit
20 Press release of the Company dated March 12, 2002.
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
--------------------------------
Bradford T. Smith
Executive Vice President
and Secretary
Date: March 12, 2002
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 Shareholder Direct: 800-LAB-0401
Pamela Sherry www.labcorp.com
Investor@labcorp.com
LABCORP STRENGTHENS BREADTH OF MOLECULAR
HEPATITIS DIAGNOSTIC TESTING TOOLS WITH NEW ASSAYS
AND TECHNOLOGY
Burlington, NC, March 12, 2002 - Laboratory Corporation of America-
Registered Trademark Holdings (LabCorp-Registered Trademark-)
(NYSE:LH) today announced an advanced suite of molecular assays
developed to improve the management of patients diagnosed with the
hepatitis B and/or hepatitis C virus. The introduction of these tests further
strengthens LabCorp's leading position in the molecular hepatitis testing
market, and demonstrates the company's commitment to providing its
clients with only the most advanced RNA/DNA tests and technology.
"Recently, there has been a dramatic improvement in therapy options for
patients suffering from hepatitis B and C," said Myla P. Lai-Goldman,
MD, LabCorp's Executive Vice President, Chief Scientific Officer and
Medical Director. "No longer does the diagnosis of these infections
precede a life of continuous therapeutic trial and error for the patient.
Advances in molecular medicine like LabCorp's suite of hepatitis B and
C tests, as well as improved therapeutics, result in far better patient
management and enhanced quality of life."
Hepatitis C (HCV) QuantaSure-Trademark-
LabCorp's newly available Hepatitis C QuantaSure-Trademark- test is
one of the most sensitive viral load tests available today, capable of
detecting hepatitis C virus down to as few as 2 International Units (IU)
per milliliter (mL). Given the assay's capability to detect such low levels
of virus, physicians can be more confident about assessing viral clearance
in their patients, thereby improving treatment management.
HCV QuantaSure-Trademark- Plus
To complement the HCV QuantaSure-Trademark- test, LabCorp will
soon introduce the HCV QuantaSure-Trademark- Plus test which is the
product of next generation PCR technology known as "TaqMan-
Trademark- real time PCR." HCV QuantaSure-Trademark- Plus features
similar levels of sensitivity as the HCV QuantaSure-Trademark- test, but
will boast the broadest dynamic range currently available in quantitative
testing, 10 - 100 million IU/mL. With this type of dynamic range in a
single test, physicians can more closely assess likelihood of cure at the
end of treatment as well as more accurately measure treatment response
in patients with high viral levels. Furthermore, the HCV QuantaSure-
Trademark- Plus is highly automated, which will allow LabCorp to more
efficiently accommodate the growing need for testing.
Of the estimated 4 million Americans infected with hepatitis C, only
130,000 currently receive treatment. With better therapies as well as
improved diagnostics, physicians will be encouraged to identify and treat
more HCV infected patients. Technologies such as LabCorp's HCV
QuantaSure-Trademark- Plus will help improve HCV patient
management.
Hepatitis B (HBV) SuperQuant-Trademark-
To round out its menu of hepatitis diagnostic tools, LabCorp has also
recently converted its current client base to a new, more sensitive
hepatitis B DNA assay. LabCorp's HBV SuperQuant-Trademark- allows
for the measurement of HBV levels with viral loads below the detectable
limit of tests currently offered on the market. The polymerase chain
reaction (PCR) assay also has an extremely broad dynamic test range of
100 - 5 billion copies/mL.
The HBV SuperQuant-Trademark- test provides physicians with more
information than the combination of the two qualitative and quantitative
DNA tests currently on the market. The new test not only confirms the
presence of the virus but also assesses disease prognosis and is useful for
monitoring patients on therapy.
HBV GenoSure-Trademark-
LabCorp will also be introducing a fourth new product to this robust
menu, its Hepatitis B (HBV) GenoSure-Trademark- resistance test. This
new test is capable of detecting all of the currently known mutations that
contribute to HBV drug resistance, allowing physicians to more
accurately manage their patients' therapy options.
About LabCorp
The first national clinical laboratory to fully embrace genomic testing,
Laboratory Corporation of America-Registered Trademark- (LabCorp-
Registered Trademark-) has been a pioneer in commercializing new
diagnostic technologies. As a national laboratory with annual revenues
of $2.2 billion in 2001 and over 19,000 employees, the company offers
more than 4,000 clinical tests ranging from routine blood analyses to
sophisticated molecular diagnostics. Serving more than 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 ViroMed 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.
Each of the above forward-looking statements is subject to change
based on various important factors, including without limitation,
competitive actions in the marketplace and adverse actions of
governmental and other third-party payors. Further information on
potential factors that could affect LabCorp's financial results is
included in the Company's Form 10-K for the year ended December
31, 2000 and subsequent SEC filings, and will be included in the
Form 10-K for the year ended December 31, 2001, when filed.
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