New Buyouts & Envigo Deal Aid LabCorp Amid Regulatory Woes
Zacks Investment Research | Mar 24, 2020 10:00PM ET
On Mar 24, we issued an updated research report on LabCorp (NYSE:LH) . The company has been grappling with multiple issues, of late. Economic uncertainties, including a challenging volume environment for testing laboratories and softness in utilization, are headwinds for LabCorp.
However, in recent quarters, the company, a provider of comprehensive clinical laboratory services and end-to-end drug development support, successfully registered a strong underlying performance as well as organic revenue growth across both Diagnostics and Drug Development businesses. This upside is aided by the solid execution of three fundamental strategies, which are delivering advanced diagnostics, bringing new medicines to patients faster and using technology to enhance patient care.
In the last reported quarter, the Diagnostics business grew organically in terms of both revenues and volumes despite additional price reductions due to the Protecting Access to Medicare Act (PAMA) and the loss of exclusivity in two of the company’s largest managed-care contracts. Within Diagnostics, the company recorded sturdy revenue per requisition and a robust implementation of its LaunchPad 2 initiatives.
Laboratory Corporation of America Holdings Price
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