Labcorp Drug Development

Labcorp Drug Development (formerly known as Covance) is a contract research and drug development company. It offers laboratory testing services to the chemical and agrochemical industries. The company also provides toxicology, central laboratory, discovery, and Phase III clinical trial management services.

Employee Rating

3.9
TypeSubsidiary
Parent CompanyLabcorp
HQPrinceton, NJ, US
Founded1996
Websitedrugdevelopment.labcorp.com
Cybersecurity ratingBMore
Labcorp Drug Development was founded in 1996 and is headquartered in Princeton, NJ, US
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Key People/Management at Labcorp Drug Development

Paul Kirchgraber

Paul Kirchgraber

Chief Executive Officer
Herman Scholtz

Herman Scholtz

Vice President, Head of Early Clinical Services
Julian Demmon

Julian Demmon

Vice President, Clinical Development & Central Labs
Peter Sausen

Peter Sausen

Vice President, Strategic Development Solutions
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Labcorp Drug Development Office Locations

Labcorp Drug Development has offices in Princeton, Ann Arbor, Brentwood, Bristol and in 93 other locations
Princeton, NJ, US (HQ)
206 Carnegie Center Dr
Ann Arbor, MI, US
800 Technology Dr
Brentwood, TN, US
201 Summit View Dr #200
Bristol, TN, US
1241 Volunteer Pkwy #950
Cambridge, MA, US
300 Tech Square, 300 Technology Square #803
Chantilly, VA, US
3635 Concorde Pkwy #100
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Labcorp Drug Development Financials and Metrics

Summary Metrics

Founding Date

1996

Total Funding

$1.3 m
In total, Labcorp Drug Development had raised $1.3 m. Labcorp Drug Development is a subsidiary of Labcorp

Labcorp Drug Development Revenue

Labcorp Drug Development's revenue was reported to be $4.88 b in FY, 2020 which is a 6.5% increase from the previous period.
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Revenue

3.0b4.3b4.6b4.9b

Revenue growth, %

42%6%7%

EBIT

422.4m516.2m637.9m37.3m

EBIT margin, %

14%12%14%1%
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020

Revenue

1.1b1.1b1.1b1.1b1.1b1.2b1.1b1.1b1.2b

EBIT

108.0m123.4m131.3m138.0m141.7m175.0m150.8m112.7m209.7m

EBIT margin, %

10%12%12%13%13%15%13%10%17%
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Labcorp Drug Development Operating Metrics

Jul, 2020Nov, 2020

Patents

99

Services Provided

1313

Trademarks (US)

2224

Labcorp Drug Development Acquisitions / Subsidiaries

Company NameDateDeal Size
SciformixJune 11, 2018
Medaxial IncMay 19, 2014
Radiant Research IncJanuary 01, 2006
CJB Inc.
Covance (Argentina) S.A.
Covance Asia-Pacific Inc.
Covance (Asia) Pte. Ltd.
Covance Austria GmbH
Covance (Barbados) Holdings Ltd.
Covance (Barbados) Ltd.
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Labcorp Drug Development Cybersecurity Score

Cybersecurity ratingPremium dataset

B

86/100

SecurityScorecard logo

Labcorp Drug Development Online and Social Media Presence

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Labcorp Drug Development Company Culture

  • Overall Culture

    B+

    73/100

  • CEO Rating

    A-

    75/100

  • Compensation

    B

    73/100

  • Diversity

    C

    64/100

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Labcorp Drug Development News and Updates

Labcorp Implements Race-Free Equation for Kidney Disease Test

Labcorp (NYSE: LH), a leading global life sciences company, today announced a change to the calculation used for its estimated glomerular filtration rate (eGFR) test, a test that measures kidney function. The new equation removes the race-based coefficient found in prior equations and is recommende…

Ovia Health Collaborates With National Birth Equity Collaborative for Black History Month

Ovia Health, the only clinically-backed digital family health platform, is collaborating with the National Birth Equity Collaborative (NBEC), an organization committed to optimizing maternal and infant health, in celebration of Black History Month. This is the second year that Ovia and NBEC have wor…

Labcorp Completes Acquisition of Personal Genome Diagnostics

Labcorp (NYSE: LH), a leading global life sciences company, today announced that it has closed its acquisition of Personal Genome Diagnostics Inc. (PGDx), a leader in cancer genomics with a portfolio of comprehensive liquid biopsy and tissue-based products.

Labcorp Announces 2021 Fourth Quarter and Full-Year Results

Labcorp (NYSE: LH), a leading global life sciences company, today announced results for the fourth quarter and year ended Dec. 31, 2021, full-year 2022 guidance and longer-term outlook.

Labcorp Enters Comprehensive, Long-Term Laboratory Relationship With Ascension

Labcorp (NYSE: LH), a leading global life sciences company, today announced that it has entered into agreements to create a comprehensive strategic relationship with Ascension, one of the nation’s leading Catholic and non-profit health systems. Through the expansive strategic collaboration, Labcorp …

Labcorp Opens New Laboratory in South Bend, Expanding Services and Access in the Midwest

Labcorp (NYSE: LH), a leading global life sciences company, today announced the opening of a new diagnostics laboratory in South Bend, Indiana, allowing the company to enhance service levels and offerings to patients and physicians in South Bend and throughout the region.
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Labcorp Drug Development Blogs

NHS England’s Rare Disease Action Plan: Renewed Focus on Access to Innovative Drugs

In England, February 2022 has seen the lifting of all COVID-19 restrictions. As we cautiously enter a “new normal” after the disruption caused by the pandemic, there is renewed focus on previous healthcare priorities. The development and commercialization of innovative treatments for rare diseases h…

Cell & gene therapy answers: Preclinical oncology

Your source for answers on how to assess the preclinical efficacy of cell therapies. Watch the video > As the landscape of cell therapy continues to evolve, so are the tools to assess the efficacy of cell therapy in the preclinical space. To better understand Labcorp’s preclinical oncology role i…

Advancing inhalation toxicology capabilities to support chemical testing

Respiratory exposure to chemicals or agrochemicals poses potential risk to human health, especially to workers handling these products. Whether preparing a solution, dusting or spraying crops, or cleaning equipment, opportunities for inadvertent inhalation is a risk that can potentially lead to toxi…

Eight Instrument Considerations in Flow Cytometry

Whether it’s developing fit-for-purpose, customized flow assays, or optimizing the most appropriate off-the-shelf assay, the Labcorp Central Laboratory Services flow cytometry specialty testing team generates high-quality, clinically relevant and actionable data for your drug development programs. H…

Asembia specialty pharmacy discussions for 2022

Marking progress since Asembia 2021 At industry events, there are the discussions you hear inside of sessions, and there are also the discussions that take place outside of sessions. During the October 2021 Asembia event, we heard several common themes among attendees, clients, prospects and vendors…

Detecting measurable residual disease (MRD) in hematological malignancies using flow cytometry

A patient may be in complete remission during or after a cancer treatment, but a few cancer cells may persist in what is known as residual disease. To better inform prognoses, understand treatment decisions, predict a patient’s overall survival or understand the potential for disease relapse, it is …
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Labcorp Drug Development Frequently Asked Questions

  • When was Labcorp Drug Development founded?

    Labcorp Drug Development was founded in 1996.

  • Who are Labcorp Drug Development key executives?

    Labcorp Drug Development's key executives are Paul Kirchgraber, Herman Scholtz and Julian Demmon.

  • How many employees does Labcorp Drug Development have?

    Labcorp Drug Development has 11,189 employees.

  • What is Labcorp Drug Development revenue?

    Latest Labcorp Drug Development annual revenue is $4.9 b.

  • What is Labcorp Drug Development revenue per employee?

    Latest Labcorp Drug Development revenue per employee is $435.9 k.

  • Who are Labcorp Drug Development competitors?

    Competitors of Labcorp Drug Development include IQVIA, PPD and SNBL.

  • Where is Labcorp Drug Development headquarters?

    Labcorp Drug Development headquarters is located at 206 Carnegie Center Dr, Princeton.

  • Where are Labcorp Drug Development offices?

    Labcorp Drug Development has offices in Princeton, Ann Arbor, Brentwood, Bristol and in 93 other locations.

  • How many offices does Labcorp Drug Development have?

    Labcorp Drug Development has 104 offices.