Labcorp to Expand Bioanalytical Services With Integrated Laboratory in Singapore
May 19 2021 - 5:54PM
Business Wire
New Laboratory Grows Asia-Pacific
Operations
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
“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
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