May 05, 2020
BURLINGTON, N.C.–(BUSINESS WIRE)–LabCorp (NYSE: LH), a leading global life sciences company that is deeply integrated in guiding patient care, today announced that its COVID-19 Immunoglobulin G (IgG) antibody test is now available for individuals through LabCorp.com. With the addition of this latest offering, individuals have the ability to receive the COVID-19 IgG antibody test from their doctor, in person or through a telemedicine program, and now directly using LabCorp.com.
LabCorp does not require upfront out-of-pocket costs for the IgG antibody test. If the individual uses LabCorp.com to get the test, there is a non-reimbursable fee of $10 paid to PWNHealth to cover the independent physician service costs. If the test is ordered through the individual’s doctor or healthcare provider, the $10 PWNHealth fee does not apply.
“We are working as quickly as possible to develop and implement new solutions to combat COVID-19,” said Adam Schechter, president and CEO of LabCorp. “We continue to bring our deep research and scientific expertise to the market, and are now making it more convenient for people to access our tests through our wide network of physicians, hospitals and healthcare providers, and now through LabCorp.com.”
LabCorp.com is a convenient option that uses an independent physician service, PWNHealth, to determine if an individual is eligible for the test following the completion of a short health questionnaire. Individuals who meet PWNHealth’s criteria can go to one of LabCorp’s thousands of patient service centers. Test results will be available through their LabCorp PatientTM account and individuals can consult with an independent licensed healthcare provider from PWNHealth.
The COVID-19 IgG antibody blood test detects the presence of antibodies to the virus and can help determine if an individual may have been exposed to the virus. While antibody tests are helpful to understand if an individual has developed antibodies and a potential immune response, antibody testing should not be used as the sole basis to diagnose or exclude infection.
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 diagnostics solutions, brings innovative medicines to patients faster, and uses technology to improve the delivery of care. LabCorp reported revenue of more than $11.5 billion in 2019. To learn more about LabCorp, visit www.LabCorp.com, and to learn more about LabCorp’s Covance Drug Development business, visit www.Covance.com.
This test has not been FDA cleared or approved. This test has been authorized by the FDA under an emergency use authorization for use by authorized laboratories. This test has been authorized only for the detection of IgG antibodies against SARS-CoV-2, and not for any other viruses or pathogens. This test is only authorized for the duration of the declaration that circumstances exist justifying the authorization of emergency use of in vitro diagnostics for detection and/or diagnosis of COVID-19 under Section 564(b)(1) of the Act, 21 U.S.C. § 360bbb-3(b)(1), unless the authorization is terminated or revoked sooner.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to statements with respect to clinical laboratory testing, the potential benefits of COVID-19 serological testing, our responses to and the expected future impacts of the COVID-19 pandemic, and the opportunities for future growth. Each of the forward-looking statements is subject to change based on various important factors, many of which are beyond the Company’s control, including without limitation, whether our response to the COVID-19 pandemic will prove effective, the impact of the COVID-19 pandemic on our business and financial condition, as well as on general economic, business, and market conditions, competitive actions and other unforeseen changes and general uncertainties in the marketplace, changes in government regulations, including healthcare reform, customer purchasing decisions, including changes in payer regulations or policies, other adverse actions of governmental and third-party payers, the Company’s satisfaction of regulatory and other requirements, patient safety issues, changes in testing guidelines or recommendations, federal, state, and local governmental responses to the COVID-19 pandemic, adverse results in material litigation matters, failure to maintain or develop customer relationships, our ability to develop or acquire new products and adapt to technological changes, failure in information technology, systems or data security, and employee relations. These factors, in some cases, have affected and in the future (together with other factors) could affect the Company’s ability to implement the Company’s business strategy and actual results could differ materially from those suggested by these forward-looking statements. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements. The Company has no obligation to provide any updates to these forward-looking statements even if its expectations change. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. Further information on potential factors, risks and uncertainties that could affect operating and financial results is included in the Company’s most recent Annual Report on Form 10-K and subsequent Forms 10-Q, including in each case under the heading RISK FACTORS, and in the Company’s other filings with the SEC.
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Investors: Clarissa Willett — 336-436-5076