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Labcorp is a leading global provider of innovative laboratory services and drug development solutions.
Labcorp is a global leader in laboratory services, providing innovative and comprehensive diagnostics to physicians, hospitals, pharmaceutical companies, and researchers. The company operates through two main segments: Diagnostics Laboratories (Dx), which performs a variety of routine and specialty tests, and Biopharma Laboratory Services (BLS), which supports early development research and clinical trials for new drugs. With over 67,000 employees, Labcorp serves clients in more than 100 countries and has been involved in 90% of new drug approvals by the FDA in 2023, reflecting its significant influence in the healthcare sector.
Labcorp combines its extensive diagnostic capabilities with technological innovations to enhance patient care and improve health outcomes. It has experienced substantial revenue growth, registering an 11.8% increase from 2022 to 2023. The company is committed to advancing its services further, particularly in core clinical areas such as oncology and autoimmune diseases. A recent spin-off of its clinical development services will allow Labcorp to sharpen its focus on specific market opportunities while maintaining a robust and scalable laboratory network.
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