Covance seeks an Economic Revitalization Area designation at its Indianapolis, IN-based site, at which the company looks to expand its sample storage capacity and add space “dedicated to innovation" as part of an $11.8m construction project.
LabCorp’s collaboration with Mission Bio will use single cell-sequencing technology to understand the genetics of rare cell populations, which could be key to making clinical trials successful, says CEO.
LabCorp sees significant opportunity to grow its Covance Drug Development business in the face of a potentially challenging 2019 and is on track to deliver costs savings as part of its LaunchPad initiatives.
Just two months after Covance shareholders signed off on LabCorp acquiring the company, and all seems to be going according to plan, though financial expectations for the rest of the year were slightly lowered by the diagnostics company.
The integration of Covance and LabCorp is beginning with the announcement that LabCorp will operate under two distinct segments: LabCorp Diagnostics and Covance Drug Development, LabCorp CEO Dave King said in a conference call last week.