Single Test Detects Multiple Respiratory
Infections Including COVID-19 and Flu to Inform Treatment
Options
At-Home Use Through Pixel by LabCorp™ Pending
FDA Authorization
LabCorp (NYSE: LH), a leading global life sciences company that
is deeply integrated in guiding patient care, today announced the
launch of the first testing method to simultaneously detect
COVID-19, influenza A / B, and respiratory syncytial virus (RSV).
The single-panel test, which detects multiple types of infections,
can help doctors diagnose patients and make decisions about
treatment options. The test is available to patients through
doctors, hospitals, and other authorized healthcare providers
nationwide. LabCorp has also submitted an application to the U.S.
Food and Drug Administration (FDA) to offer the combined test
through its Pixel by LabCorp™ at-home test collection kit, which
would offer added convenience and accessibility.
“The U.S. is facing the most challenging health crisis in a
century and is about to enter flu season, which has the potential
to put additional strain on our healthcare system and cost lives,”
said Dr. Brian Caveney, chief medical officer and president of
LabCorp Diagnostics. “Individuals infected with COVID-19, influenza
A / B, or RSV, often experience similar symptoms of cough, fever,
chest tightness, and body aches, providing a potential surge of
patients seeking testing. Leveraging our scientific and
technological expertise to simultaneously test for four major
respiratory viruses, including COVID-19, will provide doctors a
simple, efficient way to diagnose their patients.”
LabCorp’s COVID-19, influenza A / B, and RSV testing method is
part of the company’s continued commitment to meet the demand for
diagnostic testing as the country addresses the overlap of the
COVID-19 health crisis and flu season. Between October 1, 2019, and
April 4, 2020, the Centers for Disease Control and Prevention
estimated that there were 39 to 56 million flu illnesses, resulting
in 18 to 26 million medical visitsi. A significant flu and RSV
season this year could put an added strain on the healthcare
system, as people experience similar symptoms – fever, cough, and
aches, for example – with COVID-19 and respiratory viruses.
Pending authorization by the FDA, the Pixel by LabCorp at-home
test will be another convenient option for individuals to determine
if they have the flu, COVID-19, or RSV. Thousands of people have
used the company’s COVID-19 Pixel by LabCorp at-home test kit, with
95 percent of users being very satisfied or satisfied with their
experience. The Pixel by LabCorp at-home test uses a short swab
that is easily inserted into the individual’s lower nostril,
reducing the discomfort associated with much longer swabs.
In addition to its novel respiratory flu test, LabCorp offers a
suite of readily accessible prevention-to-detection solutions for
COVID-19 and flu that doctors, healthcare providers, individuals,
employers, and students can access. The company has performed over
13 million molecular tests since March, using several sample
collection methods, including simple nasal swabs and nasopharyngeal
swabs. For more information, individuals can speak to their doctor,
healthcare provider or visit LabCorp's COVID-19 website.
About LabCorp
LabCorp (NYSE: LH), an S&P 500 company, is a leading global
life sciences company that is deeply integrated in guiding patient
care, providing comprehensive clinical laboratory and end-to-end
drug development services. With a mission to improve health and
improve lives, LabCorp delivers world-class diagnostics solutions,
brings innovative medicines to patients faster, and uses technology
to improve the delivery of care. LabCorp reported revenue of more
than $11.5 billion in 2019. To learn more about LabCorp, visit
www.LabCorp.com, and to learn more about LabCorp’s drug development
business, Covance, visit www.Covance.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains forward-looking statements,
including but not limited to statements with respect to clinical
laboratory testing, the potential benefits of COVID-19 testing, our
responses to and the expected future impacts of the COVID-19
pandemic, the Company’s future operations, expansion of offerings
and capabilities, and the 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, whether our response to the
COVID-19 pandemic will prove effective, the impact of the COVID-19
pandemic on our business and financial condition, as well as on
general economic, business, and market conditions, 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, the Company’s satisfaction of
regulatory and other requirements, patient safety issues, changes
in testing guidelines or recommendations, federal, state, and local
governmental responses to the COVID-19 pandemic, adverse results in
material litigation matters, 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, and employee relations. 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.
###
i
https://www.cdc.gov/flu/about/burden/preliminary-in-season-estimates.htm
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200908005544/en/
LabCorp Contacts: Media: Pattie Kushner — 336-436-8263
Media@LabCorp.com
Investors: Clarissa Willett — 336-436-5076
Investor@LabCorp.com
Laboratory Corporation o... (NYSE:LH)
Historical Stock Chart
From Mar 2024 to Apr 2024
Laboratory Corporation o... (NYSE:LH)
Historical Stock Chart
From Apr 2023 to Apr 2024