1. Labcorp expands oncology portfolio with new test offerings for solid tumors. 2. New tests improve patient access and identify eligibility for targeted therapies. 3. Enhanced digital pathology platform supports clinical trials globally. 4. Labcorp presents research at ASCO 2025 Annual Meeting. 5. Company retains strong market position with over 700 million tests annually.
The expansion in oncology offerings enhances Labcorp's competitive edge, likely attracting more clients. Historical cases show similar strategies led to increased revenue and stock price growth.
The launch of advanced diagnostics will likely boost Labcorp's service demand, positively affecting financial performance. The oncology market is experiencing rapid growth, indicating strong potential.
These developments establish Labcorp’s position in a growing oncology market, likely yielding benefits over time. Past expansions have positioned companies for sustained growth.
Enhanced biopharma services support accelerated clinical trials and companion diagnostic development
BURLINGTON, N.C., May 30, 2025 /PRNewswire/ -- Labcorp (NYSE: LH), a global leader of innovative and comprehensive laboratory services, announced today the expansion of its precision oncology portfolio. The additions include new test offerings for solid tumor and hematologic malignancies and enhanced biopharma solutions designed to accelerate clinical trials and companion diagnostic development.
"Labcorp is committed to serving as the trusted partner for advanced testing at every stage of cancer care," said Shakti Ramkissoon, M.D., Ph.D., vice president and medical lead for oncology at Labcorp. "Our expanded portfolio and integrated solutions provide our partners with the tools and insights they need to accelerate development programs and drive meaningful improvements in patient outcomes."
To improve patient access to testing and identify those who may be eligible for targeted therapies, Labcorp is announcing:
To support global trial consistency and enhance collaboration with the company's biopharma customers, Labcorp is also announcing:
Labcorp will present new research at the 2025 ASCO® Annual Meeting, May 30 – June 3 in Chicago. To learn more, or to connect with Labcorp at ASCO, visit https://oncology.labcorp.com/2025-asco-annual-meeting.
For more information about Labcorp's Oncology solutions, contact us at https://oncology.labcorp.com/contact-us.
Labcorp (NYSE: LH) is a global leader of innovative and comprehensive laboratory services that helps doctors, hospitals, pharmaceutical companies, researchers and patients make clear and confident decisions. We provide insights and advance science to improve health and improve lives through our unparalleled diagnostics and drug development laboratory capabilities. The company's nearly 70,000 employees serve clients in approximately 100 countries, provided support for more than 75% of the new drugs and therapeutic products approved in 2024 by the FDA, and perform more than 700 million tests annually for patients around the world. Learn more about us at www.labcorp.com.
This press release contains forward-looking statements, including, but not limited to, statements with respect to the expected utility and benefits to patients and customers of the company's enhanced oncology offerings and anticipated future expansions to those offerings.
Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond the company's control. 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 the 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 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 under the heading "MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS".