LabCorp Launches First Combined Test for Covid-19, Flu and RSV in Time for Flu Season
Single Test Detects Multiple Respiratory Infections Including COVID-19 and Flu to Inform Treatment Options
At-Home Use Through Pixel by LabCorp™ Pending FDA Authorization
LabCorp (NYSE:LH), a leading global life sciences company that is deeply integrated in guiding patient care, today announced the launch of the first testing method to simultaneously detect COVID-19, influenza A / B, and respiratory syncytial virus (RSV). The single-panel test, which detects multiple types of infections, can help doctors diagnose patients and make decisions about treatment options. The test is available to patients through doctors, hospitals, and other authorized healthcare providers nationwide. LabCorp has also submitted an application to the U.S. Food and Drug Administration (FDA) to offer the combined test through its Pixel by LabCorp™ at-home test collection kit, which would offer added convenience and accessibility.
"The U.S. is facing the most challenging health crisis in a century and is about to enter flu season, which has the potential to put additional strain on our healthcare system and cost lives," said Dr. Brian Caveney, chief medical officer and president of LabCorp Diagnostics. "Individuals infected with COVID-19, influenza A / B, or RSV, often experience similar symptoms of cough, fever, chest tightness, and body aches, providing a potential surge of patients seeking testing. Leveraging our scientific and technological expertise to simultaneously test for four major respiratory viruses, including COVID-19, will provide doctors a simple, efficient way to diagnose their patients."
LabCorp's COVID-19, influenza A / B, and RSV testing method is part of the company's continued commitment to meet the demand for diagnostic testing as the country addresses the overlap of the COVID-19 health crisis and flu season. Between October 1, 2019, and April 4, 2020, the Centers for Disease Control and Prevention estimated that there were 39 to 56 million flu illnesses, resulting in 18 to 26 million medical visitsi. A significant flu and RSV season this year could put an added strain on the healthcare system, as people experience similar symptoms – fever, cough, and aches, for example – with COVID-19 and respiratory viruses.
Pending authorization by the FDA, the Pixel by LabCorp at-home test will be another convenient option for individuals to determine if they have the flu, COVID-19, or RSV. Thousands of people have used the company's COVID-19 Pixel by LabCorp at-home test kit, with 95 percent of users being very satisfied or satisfied with their experience. The Pixel by LabCorp at-home test uses a short swab that is easily inserted into the individual's lower nostril, reducing the discomfort associated with much longer swabs.
In addition to its novel respiratory flu test, LabCorp offers a suite of readily accessible prevention-to-detection solutions for COVID-19 and flu that doctors, healthcare providers, individuals, employers, and students can access. The company has performed over 13 million molecular tests since March, using several sample collection methods, including simple nasal swabs and nasopharyngeal swabs. For more information, individuals can speak to their doctor, healthcare provider or visit LabCorp's COVID-19 website.
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 drug development business, Covance, visit www.Covance.com.
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 testing, our responses to and the expected future impacts of the COVID-19 pandemic, the Company's future operations, expansion of offerings and capabilities, 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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