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|LabCorp Expands Drug Development Solutions with Acquisition of Sciformix|
Sciformix extends Covance’s pharmacovigilance capabilities for post-approval safety solutions
“This acquisition strengthens our position in the later phases of drug
and device development, particularly for post-marketing
pharmacovigilance and market access solutions,” said
Sciformix’s offerings include post-marketing safety and risk management,
clinical development support services, regulatory affairs and
operations, technology services, and real-world evidence solutions. The
majority of Sciformix’s 1,100 employees are based in
“The development process does not end once a drug or device is
Terms of the transaction have not been disclosed.
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 diagnostic solutions, brings innovative medicines to patients faster and uses technology to improve the delivery of care. LabCorp reported net revenues of over $10 billion in 2017. To learn more about LabCorp, visit www.LabCorp.com, and to learn more about Covance Drug Development, visit www.Covance.com.
This press release contains forward-looking statements about the
Company’s future operations. Each of the forward-looking statements is
subject to change based on various important factors, including without
limitation, competitive actions in the marketplace, and adverse actions
of governmental and other third-party payers. Actual results could
differ materially from those suggested by these forward-looking
statements. The Company has no obligation to provide any updates to
these forward-looking statements even if its expectations change.
Further information on potential factors that could affect operating and
financial results is included in the Company’s Form 10-K for the year
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