Labcorp Set to Expand Presence and Operations in Japan with New Facility

BURLINGTON- Labcorp (NYSE: HL) will increase its international presence in Japan by expanding CB Trial Laboratory, the central laboratory co-managed by Labcorp Drug Development and BML, one of Japan’s leading providers of clinical laboratory testing services, the Burlington, Carolina-based company announced. North last month.

“The lab expansion provides additional capacity and capabilities and opens the door to enriched services, more resources and better outcomes for our customers and patients,” said Dr. Kensuke Kondo, President of the Japanese company. BML, in a press release. statement.

BML and Labcorp will begin construction of a new lab in Kawagoe City, Saitama.

The facility, when constructed, will expand “capacity and services for pharmaceutical and biotech customers,” the statement said, and “strengthen Labcorp Drug Development’s central laboratory service offerings in Japan and pave the way for accelerated continues companion diagnostic capabilities”.

It will be located near an existing BML lab and will be five times larger than the previous space, according to the release.

Labcorp expanded its presence in Research Triangle Park in 2019.

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Grow in Japan

“Labcorp Drug Development remains committed to growing its operations and services in Japan through continued expansion and partnerships,” said Honggang Bi, senior vice president and head of Asia Pacific for Labcorp Drug Development, in the communicated. “Expanding our work with BML and increasing our lab footprint means we will be able to offer faster turnaround times, superior in-country sample management and comprehensive laboratory tests for global clinical trials in Japan. This will benefit patients, customers and healthcare providers by providing them with the information needed to make key decisions.

In addition, the new facility will provide organizations with additional capabilities “such as genomics, microbiology and companion diagnostics, in addition to expanded offerings in current laboratory capabilities including flow cytometry, immunology, pathology anatomical and histology,” the statement noted.

It is expected to be completed in early 2025.

Completion of the expanded lab is scheduled for early 2025. The companies renewed their partnershipwhich has existed since 2010, in 2020.

Labcorp’s most recent quarterly results beat expectations.

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