Through groundbreaking technology and scientific expertise, Labcorp is revolutionizing diagnostics and drug development. For over five decades, the company has been at the forefront of scientific innovation, consistently pushing the boundaries of what's possible in healthcare. Labcorp's commitment to advancing science is evident in its early adoption and commercialization of new diagnostic technologies, including genomic testing using polymerase chain reaction (PCR) technology. The company operates one of the largest clinical laboratory networks globally, with extensive operations in over 100 countries. This vast network includes thousands of patient service centers and in-office phlebotomists, ensuring broad access to its comprehensive range of testing services. Labcorp processes hundreds of millions of tests annually, providing critical information that aids in diagnosis, treatment decisions, and healthcare management.
Labcorp's innovation extends significantly into the realm of drug development. Its Biopharma Laboratory Services segment offers a full suite of services to support pharmaceutical, biotechnology, and medical device companies throughout the entire development lifecycle, from early discovery to post-market surveillance. Notably, in 2023, this division played a role in supporting 84% of the new drugs and therapeutic products approved by the Food and Drug Administration (FDA). The company was also a major developer and processor of COVID-19 testing during the pandemic, including developing the first at-home collection COVID-19 test. Labcorp continues to invest in cutting-edge technologies and strategic acquisitions to enhance its capabilities, such as expanding its precision oncology portfolio and at-home testing options. This relentless pursuit of innovation allows Labcorp to provide insights that accelerate healthcare advancements and improve lives worldwide.
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