July 12, 2023
(press release)
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New kit production facility and expanded immunology and immunotoxicology lab underpin plans to enhance patient outcomes across the Asia-Pacific (APAC) region and increase drug development pipeline BURLINGTON, N.C., July 12, 2023 — Labcorp (NYSE: LH), a leading global life sciences company, today announced the opening of a new kit production facility, as well as the completed expansion of its immunology and immunotoxicology lab in China as part of its global growth and investment strategy. These new and expanded operations will help harness China’s drug development capabilities to advance a pipeline of innovative therapies. In Suzhou, Labcorp’s new kit production facility eliminates the need for overseas shipments, reducing transportation costs for sponsors and shortening lead times. Adding industry-leading kit production capabilities in China also enhances business continuity options with an expanded supplier network in China and production redundancy. The new site will adhere to the same global quality standards that are used at facilities across Europe and the United States and the extraordinary benefits it present are scalable to support future growth. “As we continue to grow our business globally, we recognize the importance of investing capital back into our business,” said Jon DiVincenzo, executive vice president and president, Central Laboratories and International, Labcorp. "These investments improve experiences for our sponsors, sites, investigators and so many other partners. We are confident in our ability to serve patient needs in China, the Asia-Pacific and across the globe by leveraging our expanding capabilities, our experience and talented teams.” Labcorp completed the expansion of its Shanghai immunology and immunotoxicology laboratory in May 2023. The upgraded facility, which spans 2,000 square feet, incorporates powerful upgrades to lab equipment and instrumentation. These improvements were designed to speed up drug development for clients globally, offering an array of services including flow cytometry analysis, in-vitro cell-based assays, immunoassay for biomarkers , digital polymerase chain reaction (PCR) assays and additional capabilities for cell and gene therapy. “Advancing our capabilities in order to develop life-changing therapies more efficiently and effectively is a priority at Labcorp,” said Brian Caveney, executive vice president and president, Early Development Research Laboratories and chief medical and scientific officer of Labcorp. “These initiatives will allow Labcorp to tap into the significant talent in China that is spearheading some of the latest advancements in drug development.” These expansions compliment recent projects outside of APAC, including a new anatomic pathology and companion diagnostic center of excellence in Los Angeles, California. Over the past four years, Labcorp has made significant investments across our four largest global sites, supporting growing international demand and showcasing the company’s ability to collaborate effectively with local partners and municipalities globally. To learn more about Labcorp in China, visit here, or follow “徕博科Labcorp” on Wechat channel. 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 80,000 employees, we serve clients in more than 100 countries. Labcorp (NYSE: LH) reported revenue of $14.9 billion in FY2022. Learn more about us at www.Labcorp.com or follow us on LinkedIn and Twitter @Labcorp .
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