Labcorp Adds High Sensitivity Antigen Test to Screen for Active COVID-19 Infection

Antigen Test Is the Latest Offering by Labcorp to Fight COVID-19 at Every Stage, from Diagnostic Testing to Clinical Trials and Vaccination Services

BURLINGTON, N.C.--(BUSINESS WIRE)--Labcorp (NYSE: LH), a leading global life sciences company, today announced the availability of a new laboratory-based antigen test that will help doctors determine if an individual is actively infected with COVID-19.

Developed by DiaSorin, the antigen test is available to patients through a doctor’s order and allows for testing to determine if individuals are still infected with and could spread COVID-19. The test is performed by a doctor or other healthcare provider using a nasal or nasopharyngeal swab to collect a sample and is then picked up and processed by Labcorp. Results are available on average within 24-48 hours from time of pick up.

“This new high-sensitivity antigen test is another example of Labcorp’s commitment to providing people with the information they need to make important health decisions,” said Dr. Brian Caveney, chief medical officer and president, Labcorp Diagnostics. “PCR tests are still considered the gold standard in diagnosing COVID-19, as they are able to detect the smallest traces of the virus. However, an antigen test is an additional tool to help individuals know if they could still be carrying the virus or if they are safe to resume work and life activities.”

According to the Centers for Disease Control and Prevention (CDC), antigen tests can be used in a variety of testing strategies to respond to the COVID-19 pandemic and are helpful in determining whether a person diagnosed with COVID-19 remains infectious.

Labcorp continues to recommend that individuals follow health guidelines, including wearing a mask in public, socially distancing, frequently washing hands and avoiding large groups, and receiving a COVID-19 vaccine as availability increases and the CDC guidance expands to more eligible groups. For more information about Labcorp’s COVID-19 response and testing options, visit Labcorp’s COVID-19 microsite.

The DiaSorin LIAISON® SARS-CoV-2 Ag antigen test has been made available to the U.S. market following notification to the U.S. Food and Drug Administration (FDA) on October 26, 2020 pursuant to the FDA’s Policy for Diagnostic Tests for Coronavirus Disease-2019 during the Public Health Emergency (Revised) and published May 11, 2020.

About Labcorp

Labcorp is a leading global life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. Through our unparalleled diagnostics and drug development capabilities, we provide insights and accelerate innovations to improve health and improve lives. With over 75,000 employees, we serve clients in more than 100 countries. Labcorp (NYSE: LH) reported revenue of $14 billion in FY2020. Learn about Labcorp at www.Labcorp.com, or follow us on LinkedIn and Twitter @Labcorp.

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 and the potential benefits of a COVID-19 test home collection kit and 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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