We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
LabCorp (LH) Partners With Forge Biologics for Gene Therapies
Read MoreHide Full Article
Laboratory Corporation of America Holdings, Inc. (LH - Free Report) recently inked a gene therapy development and manufacturing collaboration with Forge Biologics. By collaborating, LabCorp and Forge Biologics can shorten clinical development timeframes, loosen restrictions on analytical development and manage any potential regulatory issues that may arise in connection with manufacturing and development activities.
The latest move will bolster LabCorp’s Cell and Gene Therapy business.
About Forge Biologics
Forge Biologics is a hybrid gene therapy contract manufacturing and clinical-stage pharmaceuticals development firm. Forge Biologics is one of the biggest AAV producers in the world with its 20 cGMP suites. The leadership team at Forge Biologics has a combined 200 years of experience in gene therapy, providing the specialized skill sets needed to plan, develop, build, and manage gene therapy manufacturing from the early clinical stage through commercial sizes.
More on Collaboration
With expertise in preclinical pharmacology, safety and toxicology, extensive clinical trials and commercialization services, LabCorp is one of a market leader in drug development solutions for advanced medicines. The partnership combines LabCorp's strong scientific knowledge and expertise in drug research with Forge Biologic's comprehensive AAV manufacturing services to offer a more seamless CRO-CDMO experience in support of the development of genetic medicines.
To meet clients' goal of hastening the development of these game-changing therapies so that patients in need can access them, companies will be able to effectively and consistently address the specific needs of complicated gene therapy development.
Strategic Implications
This strategic partnership will provide greater accessibility to services for adeno-associated virus (AAV) mediated gene therapy programmes by providing manufacturing capabilities, drug development services and coordinated scientific expertise to gene therapy clients across the industry.
Image Source: Zacks Investment Research
To cater to patient requirements and provide effective healthcare, LabCorp is dedicated to finding solutions to problems that are essential. The company can advance significantly in assisting patients in gaining access to cutting-edge, potentially life-saving medication thanks to this strategic cooperation with Forge Biologics.
Industry Prospects
Per a report by Grand View Research, the global gene therapy market was valued at $7.54 billion in 2022 and is expected to witness a CAGR of 19.1% by 2030. The market's growth can be attributed to factors such as expanding the area of advanced therapies along with gene delivery technologies and developing competition among key players focused on the commercialization of their therapies.
Recent Developments
In June 2023, LabCorp introduced a liquid biopsy test, Labcorp Plasma Focus. The test enables oncologists to evaluate circulating cell-free DNA (cfDNA) released by tumor cells and better manage the care of their patients through a personalized, targeted therapy plan.
In May, LabCorp and BML announced the expansion of clinical laboratory testing capabilities in Japan. Post-completion, the new facility is expected to provide Labcorp and BML pharmaceutical and biotechnology clients with enhanced access to central laboratory testing and drug development capabilities. This allows a greater focus on serving unique healthcare needs affecting people in the region and leveraging technology to expand testing capabilities.
Price Performance
In the past year, LH’s shares have declined 13.3% against the industry’s rise of 20.5%.
Zacks Rank and Key Picks
LabCorp currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Health Equity, Inc. (HQY - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
Hologic, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 5.1% for fiscal 2024. HOLX’s earnings surpassed estimates in all the trailing four quarters, the average being 27.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 12.7% compared with the industry’s 9.9% rise in the past year.
HealthEquity, sporting a Zacks Rank #1, has an estimated long-term growth rate of 22%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 9.1%.
HealthEquity has gained 2.3% against the industry’s 14.6% decline in the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.5%. BSX’s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 1.9%.
Boston Scientific has gained 42.2% against the industry’s 21% decline in the past year.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Shutterstock
LabCorp (LH) Partners With Forge Biologics for Gene Therapies
Laboratory Corporation of America Holdings, Inc. (LH - Free Report) recently inked a gene therapy development and manufacturing collaboration with Forge Biologics. By collaborating, LabCorp and Forge Biologics can shorten clinical development timeframes, loosen restrictions on analytical development and manage any potential regulatory issues that may arise in connection with manufacturing and development activities.
The latest move will bolster LabCorp’s Cell and Gene Therapy business.
About Forge Biologics
Forge Biologics is a hybrid gene therapy contract manufacturing and clinical-stage pharmaceuticals development firm. Forge Biologics is one of the biggest AAV producers in the world with its 20 cGMP suites. The leadership team at Forge Biologics has a combined 200 years of experience in gene therapy, providing the specialized skill sets needed to plan, develop, build, and manage gene therapy manufacturing from the early clinical stage through commercial sizes.
More on Collaboration
With expertise in preclinical pharmacology, safety and toxicology, extensive clinical trials and commercialization services, LabCorp is one of a market leader in drug development solutions for advanced medicines. The partnership combines LabCorp's strong scientific knowledge and expertise in drug research with Forge Biologic's comprehensive AAV manufacturing services to offer a more seamless CRO-CDMO experience in support of the development of genetic medicines.
To meet clients' goal of hastening the development of these game-changing therapies so that patients in need can access them, companies will be able to effectively and consistently address the specific needs of complicated gene therapy development.
Strategic Implications
This strategic partnership will provide greater accessibility to services for adeno-associated virus (AAV) mediated gene therapy programmes by providing manufacturing capabilities, drug development services and coordinated scientific expertise to gene therapy clients across the industry.
To cater to patient requirements and provide effective healthcare, LabCorp is dedicated to finding solutions to problems that are essential. The company can advance significantly in assisting patients in gaining access to cutting-edge, potentially life-saving medication thanks to this strategic cooperation with Forge Biologics.
Industry Prospects
Per a report by Grand View Research, the global gene therapy market was valued at $7.54 billion in 2022 and is expected to witness a CAGR of 19.1% by 2030. The market's growth can be attributed to factors such as expanding the area of advanced therapies along with gene delivery technologies and developing competition among key players focused on the commercialization of their therapies.
Recent Developments
In June 2023, LabCorp introduced a liquid biopsy test, Labcorp Plasma Focus. The test enables oncologists to evaluate circulating cell-free DNA (cfDNA) released by tumor cells and better manage the care of their patients through a personalized, targeted therapy plan.
In May, LabCorp and BML announced the expansion of clinical laboratory testing capabilities in Japan. Post-completion, the new facility is expected to provide Labcorp and BML pharmaceutical and biotechnology clients with enhanced access to central laboratory testing and drug development capabilities. This allows a greater focus on serving unique healthcare needs affecting people in the region and leveraging technology to expand testing capabilities.
Price Performance
In the past year, LH’s shares have declined 13.3% against the industry’s rise of 20.5%.
Zacks Rank and Key Picks
LabCorp currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Health Equity, Inc. (HQY - Free Report) and Boston Scientific Corporation (BSX - Free Report) .
Hologic, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 5.1% for fiscal 2024. HOLX’s earnings surpassed estimates in all the trailing four quarters, the average being 27.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 12.7% compared with the industry’s 9.9% rise in the past year.
HealthEquity, sporting a Zacks Rank #1, has an estimated long-term growth rate of 22%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 9.1%.
HealthEquity has gained 2.3% against the industry’s 14.6% decline in the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.5%. BSX’s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 1.9%.
Boston Scientific has gained 42.2% against the industry’s 21% decline in the past year.